Introduction to EigenLayer
Last updated
Last updated
EigenLayer is a decentralized security protocol that enhances blockchain services by allowing assets already staked in Ethereum to be restaked, providing an extra layer of security. It enables validators to secure various services through a process called Actively Validated Services (AVS).
AVSs are services built on the EigenLayer protocol that leverage Ethereum's shared security.
AVS involves multiple components to ensure the security and efficiency of blockchain operations:
Operators: These are the entities that run the services, such as rollups, on the network. They execute transactions and ensure the proper functioning of the services.
Restakers: Validators who have staked their assets in Ethereum can restake these assets in EigenLayer. Restakers provide the security backbone by locking up their assets, which can be slashed if they act maliciously or fail to perform their duties.
Service: This refers to the actual applications or rollups that are secured by AVS. These services benefit from the enhanced security provided by restaked assets.
Enhanced Security: Restaked assets from validators secure rollups, ensuring that any malicious actions result in slashing of these assets, thereby maintaining integrity.
Decentralization: AVS distributes validation across many validators, reducing central points of failure and enhancing network security.
Scalability: AVS allows rollups to process more transactions off-chain while ensuring on-chain security through decentralized validation.
Cost Efficiency: Leveraging existing staked assets for security is more cost-effective than implementing separate security mechanisms for each rollup.
Refer for more understanding: https://blog.etherscale.xyz/an-elementary-explainer-of-avss-and-their-importance-for-rollups-08fe336d057a
