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SSV DAO opens the “SSV 2.0” plot, bringing BAPP to Ethereum



The SSV DAO, the decentralized autonomous organization behind the decentralized staking protocol SSV Network.

SSV 2.0 is the most sought after the SSV network project, according to a press release shared with CoinDesk, and will bring applications based on Ethereum (BAPP).

“Based” applications, especially “based on rollups,” is a new type of technology that attracts the attention of Ethereum developers because it allows better interoperability while improving the security of networks at the top of the Ethereum.

Rollup based on specifically can be seen as a solution to many layer-2 networks in the Ethereum today, which has led to many fragmentation throughout the space. By seizing the “based” technology, protocols or applications can “base” their security operations and implementation from Ethereum’s layer-1 set.

Currently, Layer-2 networks use “sequencers” to order transactions and post those who return to Ethereum. The issue in the following today is that they will remain a centralized substance and can be a single point of frustration. By using validators from Layer-1 to do implementation and security, networks can avoid the collapse of the use of centralized successively.

Moreover, Ethereum developers Sumang -according to rollups Allow better network interoperability. Members of the Ethereum Ecosystem gathered In the past few weeks to find ways to solve this issue, and based on rollups has been seen as a major success for that.

Now the SSV network will also discuss these issues by bringing applications based on technology to Ethereum. According to the SSV team, BAPPS gets “security directly from L1 instead of using different tokens such as the current restoration models, making it more aligned with Ethereum and not exposing Ethereum or its validators to cascading risks. “

As part of this, the DAO suggests that the SSV network will be in a BAPP. “Changing the SSV network from an infrastructure powered by DVT to a multidimensional network for the based economy will need an evolution of SSV tokenomics,” the team shared. (The DVT, or distributed validator technology, refers to a type of tech that gives an Ethereum validator to run on multiple nodes at the same time.)

“This announcement marks a transforming -leap for Bootstrapping Ethereum Security, which addresses the growing demand for layer 1 (L1) -anchored interoperable solution -as seen with the base of the term -based and based on Validator promises – amid increased ecosystem fragmentation, “the SSV team told the press at The Press Release.

Read more: SSV DAO starts a $ 50m fund to push Ethereum’s decentralization plan



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