Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

RockX joins ssv.network to build industry’s first complete distributed validator technology solution on Ethereum

RockX, one of Asia's largest staking solutions and institutional-grade blockchain access node providers, has partnered with decentralised Ethereum staking infrastructure ssv.network to integrate Distributed Key Generation (DKG) and Resharing Protocol into ssv.network’s Distributed Validator Technology (DVT) solution.


Through RockX's work on the first specification of multi-party computation (MPC), which enables DKG, Resharing Protocol, and blame, coupled with the existing ssv.network which has been running on the testnet for over a year, a complete version of DVT solution will be coming to the market after months of cross-team collaboration.

By encrypting and distributing validators’ private keys among all participants, the DKG protocol allows validators — those in charge of verifying transactions on networks such as Ethereum — to be co-run by multiple operators without revealing their keys to any single party. The Resharing Protocol then allows the keys to be securely redistributed to different parties without disrupting the business. Meanwhile, blame ensures dishonest parties are identified and prevent potential attacks.

Set to launch in the first half of 2023, this will be the first comprehensive DVT solution that addresses security issues posed by the updated Ethereum blockchain, while also encouraging decentralisation across the network. By allowing multiple node operators to securely run a validator together, the solution helps Ethereum validators achieve greater robustness and fault tolerance, as operators can step in for one another in the event of system downtime or infrastructure malfunction. In addition, staking on Ethereum will be much more decentralised, as no single party will be able to control the majority of validators.

Chen Zhuling, Chief Executive Officer, RockX, said: “This project is more timely than ever, as Ethereum’s historic transition to proof-of-stake has resulted in a surge in validators to over 450,000 globally. In addressing some of the most pressing pain points of Ethereum’s staking infrastructure post-merge, ssv.network’s DVT solution plays an important role in the development of the Ethereum network and maturity of our DeFi ecosystem. We are excited to be a part of this journey, which will further propel the onboarding of institutions and individuals into the world of crypto finance.

Alon Muroch, Lead at ssv.network Core Team, said: “At ssv.network, we aim to develop high-performing, secure, and decentralised ETH staking application, and the addition of zero-coordination DKG will truly set our protocol apart from existing DVT offerings on the market. We look forward to the launch of our improved solution and bringing its advantages to the staking community, from improved interoperability with other DeFi protocols, to greater flexibility in the governance and management of operators.”

According to the Ethereum Foundation’s roadmap, DVT is a core technology central to the network’s long-term development. It will also greatly alleviate the risk of slashing — where a validator is ejected from the network, resulting in the loss of staked ETH as the penalty for validator malperformance. A robust DVT solution is essential to lowering the barrier of entry for institutional and retail investors alike, while boosting decentralisation on Ethereum.

About RockX
RockX (www.rockx.com) is Asia's one-stop gateway to Web 3.0. The team is equipped with a wealth of experience in mining, staking, protocol research, and infrastructure design. In recent years, the company has built access node APIs for popular Layer 1 and 2 protocols for developers, and helped companies to seamlessly access and interact with blockchains.
RockX is one of Asia's leading staking platforms. Focusing on serving institutional and high net-worth clients globally to compound their returns on cryptocurrencies, RockX is always open to collaborating with synergistic partners & innovative Web 3.0 projects, ultimately helping to build the decentralised financial ecosystem. Recently, it has forged collaborations with prominent firms like Lido, SSV Network, Cronos, and Amber Group.

About ssv.network
ssv.network is a fully decentralised, open-source ETH staking network, based on Secret Shared Validator (SSV) technology.
SSV is also known as DVT, or Distributed Validator Technology, as it provides an open and simple infrastructure for splitting and distributing a validator key into multiple KeyShares, for the purpose of running an Ethereum validator across multiple non-trusting nodes.
Running an Ethereum validator on ssv.network achieves active-active redundancy, introduces new levels of validator key security, and benefits the Ethereum network, staking pools, staking services and solo stakers.

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Mardi 20 Décembre 2022




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