<span style="font-weight: 400;">The testnet recently saw the launch of a brand-new protocol that enables Ethereum validators and stakers to "re-stake" their assets onto other upcoming networks. The EigenLayer protocol's mainnet launch is not expected until Q3, and testing will be phased in three stages to integrate various ecosystem participants. Utilising Ethereum's Goerli testing network is the first step. Blockchain Capital, a crypto venture firm, Coinbase Ventures, Polychain Capital, Electric Capital, and Finality Capital Partner led the project's $50 million Series A funding round.</span>
<h2><span style="font-weight: 400;">EigenLayer seeks to develop a Blockchain marketplace where Ethereum nodes can profit</span></h2>
[embed]https://twitter.com/eigenlayer/status/1644075234176409605[/embed]

<span style="font-weight: 400;"><a href="https://docs.eigenlayer.xyz/overview/whitepaper" target="_blank" rel="nofollow noopener">EigenLayer</a> aspires to develop into a decentralised marketplace where <a href="https://www.cryptoknowmics.com/news/all-of-eth-nodes-fall-under-us-jurisdiction-claims-sec-lawsuit/" target="_blank" rel="noopener">Ethereum node</a> operators and validators can sell additional services and collect fees. They are able to reclaim the assets they received in exchange for staking Ether on Lido (stETH) and RocketPool (rETH) platforms. The assets can be used again to validate and protect other networks, like side chains or blockchains that aren't EVM.</span>
<h3><span style="font-weight: 400;">EigenLayer to support validators and stakers as ETH merges</span></h3>
<span style="font-weight: 400;">The protocol aims to address issues with financial incentives for validators. EigenLayer organiser Sreeram Kannan said that working with the moving and yet again marking of ETH onto different organisations would boost validators and stakers with unexpected yields and permit more modest organisations to safely develop.</span>

Eigenlayer, A Ethereum Restaking Protocol, Is Now Live On Testnet

The EigenLayer protocol's mainnet launch is not expected until Q3, and testing will be phased in three stages to integrate various ecosystem participants.

Sonakshi is into the crypto world ever since she heard about it and is pursuing her interest through Cryptoknowmics. She is a sensational poet, technical writer and content strategist.

Eigenlayer, A Ethereum Restaking Protocol, Is Now Live On Testnet

Top Picks