SSV Network, a decentralized infrastructure enabling an Ethereum validator’s distributed operation, has announced a partnership with Lido Finance. The collaboration between SSV Network and Lido Finance intends to broaden Lido’s node-operator set and increase decentralization with the launch of the Community Staking Module. The platform took to its official X account to offer insights into this endeavor.
The Community Staking Module of @LidoFinance has recently launched on the Holesky testnet, and is already attracting many participants!
Did you know that you can easily run CSM validators on SSV with no hardware required, all while remaining fully Ethereum-aligned? 🤖 pic.twitter.com/N1KJFiB2hd
— SSV Network (@ssv_network) July 25, 2024
SSV Network and Lido Finance Join Forces to Unveil Community Staking Module
The platform noted that this development denotes a huge move in its efforts to enhance inclusivity and decentralization across the Ethereum ecosystem. CSM operates as a decentralized autonomous organization and the Holesky testnet has launched it recently. The project is already grasping the attention of several participants. The Lido Finance’s initiative targets introducing permissionless operators.
They will reportedly offer significant decentralization and expansion. The respective development enables the accessibility of the node operation participation to a broader audience. This eliminates the barriers along with promoting a relatively decentralized network. A substantially appealing feature of CSM takes into account accessibility and simplicity. The execution of the validators of CSM on Secret Shared Validators (SSV) needs no hardware.
This makes it a preferable option to facilitate participants lacking the technical expertise or resources to execute conventional validators. The respective convenient access guarantees permission for everyone to add to the decentralization endeavors of the Ethereum network. The procedure of participation in CSM comprises 3 chief steps to make it accessible for even novice stakers.
The Project Increases the Accessibility of Node Operations and Promotes Decentralization
These steps allow worldwide stakers to contribute straight to the Lido protocol’s decentralization. This development strengthens Lido apart from contributing to Ethereum’s overall decentralization. It is a crucial aspect of security and growth. SSV Network added that CSM’s introduction on the Holesky testnet signifies a huge advancement Ethereum ecosystem and Lido Finance with increased accessibility of the node operations and promotion of decentralization.
Read the full article here
