EigenLayer Bolsters Ethereum Data-Service Security, Advances in Token Distribution
Summary:
EigenLayer has fortified its data-availability service, EigenDA, adding an enhanced security feature on the Ethereum mainnet to guard against Sybil and DDoS attacks. This new measure utilizes ECDSA authentication. The current free tier offers considerable throughput, with the ability for partners to request higher levels. A new update for permissionless payments is planned for release by the end of the year. In parallel, the Eigen Foundation has initiated the second phase of EIGEN stake drops. Despite their tokens being temporarily locked, active owners can still participate in staking activities.
In an effort to combat Sybil and DDoS attacks, EigenLayer has enhanced the security of its data-availability service, EigenDA, on the Ethereum mainnet. It was confirmed in EigenDA's X post that this new authentication measure uses an IP address or an Ethereum address Elliptic Curve Digital Signature Algorithm (ECDSA). ECDSA is a cryptographic system that verifies identities of users, devices, or systems using principles of public-key cryptography and elliptic curve cryptography.
This security feature focuses on safeguarding the services provided by EigenLayer and maintaining their availability to all customers. The existing free tier provides ample throughput up to 768KB every 10-minute window, which outpaces the needs of Ethereum's busiest rollups. For example, Base, a well-known rollup, requires less than 2 blobs every 10 minutes, making EigenDA's free tier highly adequate.
EigenDA also provides partners with the opportunity to request for elevated throughput levels beyond their free tier, yielding a flexible solution for high-demand scenarios. By engaging with EigenDA via a partner registration page, partners can work alongside EigenDA to fine-tune their data needs. This collaboration nurtures support for a broad spectrum of applications and innovations requiring high-throughput capabilities.
EigenDA can generate synthetic loads of 0.6 MB/sec, and peak throughput can reach 10 MB/sec on the mainnet. EigenLayer is also in the process of integrating permissionless payments for blob throughput on EigenDA, a feature set to be introduced by year-end. This will empower users to secure bandwidth at fixed rates, aiding high throughput needs.
The Eigen Foundation has commenced the second phase of its EIGEN stake drop, signaling a key moment in their token distribution strategy. This stage concludes Season 1 and contributes to the overall awarding of 113 million EIGEN tokens. This equals 6.7% of the total supply slated for stake drops. These claimed tokens will be frozen until the close of Q3 2024, preventing any transfers. Yet, users can participate in staking and delegation activities with EigenDA operators via the EigenLayer web portal.
Having launched on the Ethereum mainnet in April 2024, EigenLayer has already secured more than $12 billion in deposits. By employing a larger trust network, the platform fosters new proof-of-stake projects without the need for separate security solutions.
Published At
6/23/2024 11:16:48 AM
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