ssv.network

ssv.network Data

ssv.network Overview

ssv.network (SSV) is a unique protocol that decentralizes and secures the operation of Ethereum validators by distributing an encrypted validator private key across different non-trusting nodes. Conceived by Ethereum Foundation researchers and later developed by Blox Staking, this protocol ensures that network performance isn't affected even if a portion of nodes goes offline. The native token of the ssv.network, $SSV, is used as a payment method within the network. Stakers use these tokens to pay fees to the operators they choose to manage their validators and to the DAO for network access. The payment structure facilitates a competitive 'free market' environment amongst staking providers and incentivizes stakers to maintain a minimum balance of $SSV as collateral, ensuring network solvency. It enhances security and reliability for stakers and promotes transparency and competition among operators.