The Ethereum re-staking protocol, EigenLayer, was deployed on the Ethereum mainnet in Stage-1 on the previous day, officially launching on the Ethereum mainnet. The crypto researcher Francesco wrote an article explaining EigenLayer’s protocol features, future plans, governance, and vision.
Features of the EigenLayer protocol:
1) Customized decentralization: stakers can choose to join and ensure other decentralized services, thereby allowing other protocols to introduce requirements to promote decentralization;
2) Customized slashing: slashing is a mechanism to adjust staker incentives, and each service will have different slashing conditions based on its contract rules;
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3) Operator delegation: stakers can choose to delegate EigenLayer operations to operators based on trust, rewards, and service preferences, but delegation increases trust assumptions and dependencies on third parties, which may bring centralization risks;
4) Heavy staking points: this point can be used as a reputation score;
5) Open market: validators can choose whether to join or withdraw from each module built on EigenLayer.
In the next phase, EigenLayer will introduce operators who will be responsible for executing verification tasks for AVS built on the EigenLayer protocol. In the third phase, EigenLayer will promote the launch of multiple AVS, which can increase use cases, including decentralized sorters, oracles, and Rollup cross-chain bridges. Early heavy staking can ensure user positions, skip withdrawal queues, maximize staking opportunities, and provide a better service experience.
EigenLayer is expected to become an important infrastructure component for solving fragmented trust issues, and new projects must start from scratch to secure their protocols. The problem they are solving is that modules that cannot be deployed on the EVM cannot rely on Ethereum’s security. By choosing EigenLayer, builders can verify new modules built on Ethereum, including consensus protocols, data availability layers, virtual machines, oracles, cross-chain bridges, and trusted execution environments.
Reference: https://twitter.com/francescoweb3/status/1669285779359793154
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