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Blockdaemon Blog
Blockdaemon Ethereum Newsletter || October 2024
Oct 11, 2024
By:
Freddy
Zwanzger
&
This month’s newsletter explains why Distributed Validators offer added resilience for ETH staking, a restaking roundup, a Singapore event recap from an ETH perspective, and the benefits of Liquid Staking for institutions.
Distributed Validators for Added Resilience
Distributed Validators (DVs) add greater resilience to Ethereum staking by distributing the validator key across different servers. This offers several key advantages for institutional Ethereum staking:
Redundancy
Resilience
Operational Security
Infrastructure Efficiency
To achieve maximum resilience with DVs, institutions can configure clusters with diverse clients, geographic locations, and potentially even operators - but the added complexity can be a trade-off.
Blockdaemon has extensively tested Obol’s technology at scale. To learn more about the optimal setup for your staking endeavor, book a call with the team.
EigenLayer is iterating fast, also in reaction to its upcoming restaking rivals like Symbiotic. One example is the support of ERC-20s and wrapped BTC as collateral, as well as possible reward tokens. ETH rewards are now auto-compounding and easier to claim.
Perhaps even more important is that the token will be used to subsidize AVS rewards to bootstrap the economic flows, while slashing penalties will only be introduced months down the line. We’re here to help you navigate restaking!
Image source: Reassesing Restaking Risks
Singapore Event Recap with ETH Eyes
It was my first time in amazing Singapore, and the first time at non-Ethereum conferences. Token2049 was surprisingly big in size and with a lot of commercially minded individuals, while I found Solana Breakpoint relatively small and mainly developer focused with an emphasis on gaming.
Ethereum was hardly visible at the former, but interestingly mentioned in almost every talk at Breakpoint! Whether it is Execution Extensions (=L2s), restaking, or MEV, the conference featured many aspects of Ethereum which are coming to Solana as well. The pro/con debate format goes the other way: to Ethereum’s Devcon week in Bangkok via DevConflict. See you there?
Another event was the NORS launch event in NYC a few days ago. NORS was featured in last month’s newsletter, as the new node operator best practice standard created by and with the Liquid Collective. We plan to discuss in a future webinar why liquid staking is still relevant after the Pectra fork, which will change the max effective balance on Ethereum. Stay tuned or learn more by contacting us.
