What is SSV Network? SSV Network (SSV) is a Blockchain layer-2 solution that distributes Ethereum validators by dividing them into different nodes. cryptocoin.com In this article, we have answered the questions of investors such as what is SSV Network, what it offers, what is SSV coin, what is it for, how to get it. Now let’s examine this protocol together, which makes the validators on the Ethereum network work more decentralized.
What is SSV Network?
SSV Network is a decentralized staking infrastructure that enables the decentralized operation of an Ethereum validator. It is a simple and open source protocol that provides access to decentralized ETH staking for everyone. This protocol also offers high scalability and serves as a completely decentralized and open ETH staking network. Accordingly, it aims to solve these problems by analyzing the problems that Ethereum has in the Proof-of-Stake mechanism. In this regard, the platform can be defined as a layer-2 solution.
SSV Network does its basic use case with Secret Shared Validator technology. This is a secure and robust way to split a validator key for ETH staking between untrusted nodes or operators. SSV technology encrypts an authentication key and then splits it among untrusted nodes. The protocol provides decentralized control and operation of an Ethereum validator. Thus, it brings decentralization, fault tolerance and optimum security for staking to Ethereum.
What does the protocol offer?
SSV Network consists of three main user groups: Stakers, DAO members, and node operators. Stakers are people who stake ETH. Operators include users responsible for managing validators. Finally, DAO members are tasked with ensuring decentralization by participating in the management of the network. However, the Blockchain network consists of two layers. The first is the execution layer, which runs the network validators, and the other is the smart contract layer. All this supports the more decentralized and scalable operation of Ethereum.
What is SSV coin? What does it do?
SSV coin is the native cryptocurrency of the SSV Network platform. With this ERC-20 token, users have the opportunity to participate in the governance of the SSV network. Accordingly, participation in the DAO is possible with SSV coin ownership. By participating in the DAO, token holders gain voting rights in decisions that affect the platform. However, the SSV coin can also be used to reward node operators and pay gas fees on the network.
What is SSV Network? How to get SSV coins?
Cryptocurrency is currently listed on Binance, MEXC, BingX and Tapbit exchanges. Investors interested in SSV coin should be a member of one of these exchanges. After that, they can place a buy order for the token by depositing an asset in their wallet according to SSV parities.
