Eigen Layer is a set of smart contracts that allows ETH stakers and LST tokens like stETH, and cbETH to re-stake their tokens and provide validation service for various other modules like consensus protocols, data availability layers, sequencers, VMs, oracle networks, bridges, etc. Check this blog for detailed info on EigenLayer. It creates a free market for decentralized trust, delivered from Ethereum stakers to modules that desire stake and validation services. This opens up more agile, decentralized, and permissionless innovation on blockchains. The time, effort, and cost implied in having a robust security system for these solutions could be drastically reduced by Eigen.
As with any new technology, there are risks associated. In Eigen, you are trusting their staking functionality with your funds. The irony is, that there are security concerns for validators who in turn are providing security for other modules.
Also, with more L2s building modular blockchains like Superchain by Optimisim, the need for decentralised trust would reduce unless these modular blockchains use EigenLayer for trust aggregation.
It's a great innovation but I think it might lead to putting excessive load on Ethereum What are your thoughts on EigenLayer?
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