Strategic cooperation between Ankr, a multi-chain infrastructure provider for Web 3, DeFi, and the digital economy, and ssv.network, a prominent distributed validator technology infrastructure protocol, has been announced.
Because of this collaboration, Ankr will use ssv.network’s cutting-edge distributed validator technology to boost its own risk management and validator efficiency. It will also encourage trustless decentralization between nodes. For those who have Ankr derivatives that are liquid staked, the integration of this technology will strengthen their financial security.
To ensure a smooth and fast integration into the protocol’s distributed network of node operators, Ankr will work with ssv.network over the coming months to grow its operator and validator base. The network will undergo more stress testing, stability checks, and testing with potential staking and delegation incentives.
As the liquid staking economy expands, the developers behind both protocols will continue to work together to improve the present staking and node-running experience.
ssv.network Lead Alon Muroch stated:
“We are excited to have Ankr as part of the SSV ecosystem. Ankr were one of the first ETH liquid staking pools in the space, their team has incredible tech foresight and the ability to execute fast. The same applies for their decision to become early adopters of DVT and build a next gen staking pool on top of ssv.network. This is going to take staking to the next level.”
This landmark achievement coincides with growing consumer demand for liquid staking options. The present value of the staking market in the cryptocurrency economy is $9 billion, and after the Ethereum merging, that number is expected to more than double to $20 billion. By 2025, it might be worth as much as $40 billion if the current trend continues and proof of stake takes over as the dominant protocol.
Filipe Gonçalves, Chief of DeFi at Ankr, said:
“Ankr’s partnership with SSV.Network provides everything that our users desire from liquid staking – the highest levels of security and decentralization with stable and attractive yields. As the demand for staking increases, we will scale alongside it with the ability to provide staking rewards to any number of new users.”
Innovating liquid staking as a way to release capital in the cryptocurrency markets, Ankr is ahead of the curve, and ssv.network provides the technology to give stakeholder and node operators an enhanced experience. Merging ssv.network’s Distributed Validator Technology model with Ankr’s liquid staking infrastructure will build the next generation of liquid staking protocols. Together, Ankr and ssv.network can define the future of liquid staking by bringing forth greater decentralization, security, and accessibility for stakers and node operators on a worldwide scale.
SSV technology is absolutely new in the blockchain environment. SSV stands for Secret Shared Validator, while this technology is sometimes classified as Distributed Validator Technology (DVT). It allows any validator node to distribute its keys amongst four distinct operators to guarantee a fail-safe scheme for node functioning. With DVT, you can reduce the chances of being hacked or having your service go down while simultaneously encouraging client diversification, decentralization, and fault tolerance.
Ankr’s liquid staking infrastructure will support the decentralized functioning of an Ethereum validator made possible by SSV. This includes the delegation of funds to trustworthy nodes, the introduction of liquid staking tokens to free up user capital, and cross-chain connections to bridge liquid staking tokens to other blockchains for optimum earning prospects.
Pairing Ankr’s flexible infrastructure with distributed validator technology seeks to create the most accessible route for node operators of all sizes while lowering financial, technical, and risk obstacles.
Ankr’s expanding community of third-party node operators will be bolstered by the planned introduction of ssv.network, increasing the financial security of anybody holding liquid staked derivatives from Ankr.