Ssv.network, a decentralized staking infrastructure, facilitates the distributed functioning of an Ethereum validator by apportioning a validator key among four or more node instances (“multi-operator nodes”). These nodes cooperatively execute the validator’s tasks under a consensus mechanism. Essentially, the protocol converts a validator key into a multisignature configuration managed by a consensus layer.
What is SSV Network (SSV)?
This distinct protocol enhances the resilience, liveliness, and fault tolerance of nodes within the Ethereum ecosystem. Distributing validator keys among node instances offers a significant advancement over existing staking methods, which are inadequate in addressing:
- Offline storage of validator keys
- Achievement of ‘active-to-active’ redundancy
- Customizability through node samples
- Creation of threshold signature schemes
Ssv.network represents the inaugural public implementation of the SSV primitive, initially conceptualized by the Ethereum Foundation in 2019 and subsequently developed into a DAO-administered, community-driven network encompassing stakers, builders, and node operators.
Secret Shared Validators (SSV) are characterized as the premier secure and robust method of splitting an Ethereum validator key among node instances (or operators). The validator key is divided in such a manner that nodes remain untrusting of one another, a specified number can go offline without compromising validator performance, and no node instance can unilaterally control the validator. This results in decentralized, fault-tolerant, and secure staking on Ethereum.
SSV can be viewed as an intermediary layer between the validator node and the beacon chain. Validator keys are separated into four or more shares and arranged in a “multi-operator” configuration. The technology aims to dramatically improve the constraints of current staking practices.
Ssv.network enables the offline storage of validator keys. Presently, authenticator keys are kept online to fulfill tasks within the Beacon chain. With SSV, only encrypted “Shared Keys” are stored online, mitigating the risk of key attack vectors and exploit vulnerability.
Additionally, ‘active-to-active’ redundancy can be ensured. Independent instances of nodes (operators) can simultaneously operate and manage a validator key without increasing risk. Infrastructure flexibility and a threshold signature scheme are among the other features Ssv.network offers its users.
SSV Coin: A Brief Overview
The SSV primitive was initially proposed by the Ethereum Foundation in 2019. The BloxStaking team contributed to the research effort by implementing the first SSV Proof of Concept of the SSV primitive. The technology later evolved into the first SSV-based public application. Ethereum’s involvement contributed to the growing prominence of the SSV Network and SSV coin.
How to Buy SSV Coin?
SSV Coin can be swiftly and securely purchased through Binance, the world’s leading cryptocurrency trading platform by trading volume.
To acquire SSV Coin, users must first register with Binance and subsequently transfer fiat currency. After sending fiat currency such as Turkish Lira or dollars, the purchase can be executed in the SSV trading pair by procuring BUSD, Ethereum (ETH), and Bitcoin (BTC), in which SSV Coin is traded.
Moreover, on Binance, users can place purchase orders not only at market value but also at lower values, enabling them to buy at their desired price. Simply utilize the Limit tab and input the desired purchase amount and price.
