Distributed validator technology (DVT) was a major topic of discussion today at the #StakingGathering event. DVT is the middleware tech that enables Eth validator responsibilities to be split up across multiple node operators.
You may already know that a single node can operate multiple validators but did you know through DVT, a single validator can be split up across multiple nodes? This is great for enhancing the decentralization and therefore security of Ethereum as a proof-of-stake network.
Companies like @ssv_network and @ObolNetwork are building decentralized staking infrastructure to improve the resilience of validator operations because this kind of middleware isn’t natively supported by Ethereum’s PoS protocol atm.
Right now, most staking businesses are full stack products, meaning they handle all the components needed to onboard and offboard both their users and node operators.
Eventually, over time, we could see the likes of @LidoFinance and @Rocket_Pool use DVT or DVT infra providers to make validator operations more secure and resilient.
By splitting up the responsibilities of a validator across multiple nodes, the impact of any one of those nodes going offline or being buggy is offloaded by the other nodes that can step in to keep the validator up and running.
Some staking businesses have built their own in house tech that supports secure multi party computation. @ssv_network (formerly Blox Staking) is working on an open and decentralized DVT middleware network for Ethereum that has been running on public testnet for over a year.
It’s getting close to mainnet launch but the timing for this is still unclear. @ObolNetwork is a competitor to SSV. they are a more nascent team, whose tech has only been tested on closed devnets. Obol team plans to launch their 1st public testnet this summer.
The use of DVT is still in its early stages on Ethereum and has a long way to go in terms of development and adoption but it’s only a matter of time before this becomes the norm for serious staking businesses and applications that want to max validator resiliency.
The jury is still out on which DVT solution wins out. (Hopefully multiple). Perhaps in house DVT solutions become the norm, or staking infra providers like SSV and Opal do, or even perhaps down the road protocol level support thru a hard fork for some kind of DVT support.
That was one of the main takeaways for me from Day 1 of @ethStaker’s Staking Gathering. Of course, there were interesting discussions too about client diversity and staked ETH derivative solutions but I’m already making these threads too long as is 😅
Coming at you with another 🧵 for Day 3 of @EFDevconnect. Today, I attended the #LightClientsSummit and learned about the Portal Network. Before going into Portal and why it matters for Ethereum, here’s some context about light clients in general.
Light clients are nodes that can quickly sync to the Ethereum network to look up data or send a tx. They don’t require heavy computing power to run and are designed to operate directly from web browsers, mobile devices, and/or tablets.
In contrast, regular full nodes on Ethereum are costly to run and can take days to sync, which is why many users today rely on projects like @infura_io to interact with the network.
Some high-level thoughts from the Formal Verification Hangout today. Tldr, it was a great event and this is a topic I believe will become increasingly more important to Ethereum’s future as the world’s super computer.
For everyone who’s never heard of formal verification (FV), it’s basically the process of mathematically checking the behavior of a system.
So, you take a program, translate it into formal constraints with conditions that can then be mathematically solved to prove or disprove the correctness of your program.
A few updates on Merge testing from the CL call today:
This past Monday, devs did a 3rd shadow fork of the Goerli testnet. From it, devs discovered a bug impacting Geth nodes, which is the main EL client.
The bug only impacts a subset of Geth nodes and doesn’t impact network finalization. EL devs are focussed rn on figuring out what causes the bug and how to fix it.
gm,
it's been 105 days since the activation of EIP-1559, Ethereum's fee market upgrade.
let's take a look at how the network has been faring since 👇
Since activation, #EIP1559 has saved users a total of $844 million in transaction fees through base fee refunds. Shout-out to @Amberdataio for helping me get this data. 🙌
The average cost of sending a transaction on #Ethereum has continued to climb, tripling in dollar terms, and doubling in native units since the activation of #EIP1559.
These trends are changing, and evidence is mounting to suggest that #Ethereum has finally caught up to #Bitcoin across a number of key metrics, even as other smart contract blockchains such as #Cardano and #Solana shows promising signs of real adoption and value.