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Ssv.network is a decentralized staking infrastructure that enables the distributed operation of an Ethereum validator. This is achieved by splitting a validator key among four or more node instances (“multi-operator node”). Nodes are collectively tasked with executing the validator’s duties under a consensus mechanism. Simply put, the protocol transforms a validator key into a multi-signature structure managed by a consensus layer.
What is SSV Network (SSV)?
The uniquely defined protocol enhances the robustness, liveliness, and fault tolerance of nodes within the Ethereum ecosystem. Distributing validator keys among node instances proposes a significant leap compared to existing staking plans that fall short when it comes to:
- Offline storage of validator keys
- Providing ‘active-to-active’ redundancy
- Customization of node instances
- Establishing a threshold signature scheme
Ssv.network is the first public implementation of the SSV primitive, which emerged in 2019 as a research piece by the Ethereum Foundation and has since evolved into a community-driven network of stakers, builders, and node operators managed by a DAO.
Secret Shared Validators (SSV) are identified as the first secure and robust way to split an Ethereum validator key among node instances (or operators). The validator key is divided so that no node needs to trust another, a specific number can go offline without impacting validator performance, and no single node instance can unilaterally control the validator. The result is decentralized, fault-tolerant, and secure staking on Ethereum.
SSV can be perceived as an intermediary layer between the validator node and the beacon chain. Validator keys are split into four or more shares and arranged in a “multi-operator” structure. The technology aims to significantly improve the limitations of current staking practices.
With ssv.network, validator keys can be stored offline. Validator keys are currently held online to fulfill duties on the Beacon chain. With SSV, only encrypted “Shared Keys” are kept online, thereby eliminating the risk of key attack vectors and exposure.
Additionally, ‘active-to-active’ redundancy can be provided. Independent node instances (operators) can operate simultaneously and manage a validator key without reducing risk. Infrastructure flexibility and the threshold signature scheme are other features offered to users by the SSV Network.
How to Buy SSV Coin?
SSV Coin can be purchased quickly and securely via Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy SSV Coin, you first need to become a member of Binance and then send fiat money. After sending fiat money, such as dollars, you can buy SSV in trading pairs by purchasing BUSD, Ethereum (ETH), or Bitcoin (BTC) where SSV is traded.
Additionally, users can place a buy order at a lower value, not just at market value, on Binance. For this, you can use the Limit tab and enter the amount you want to buy and the price you want to buy at.
