SSV DAO, the decentralized autonomous organization behind the decentralized staking protocol SSV.network, is starting a $50 million ecosystem fund to help mature Distributed Validator Technology (DVT) infrastructure.
DVT refers to a technology development that would allow an Ethereum proof-of-stake validator to be run on more than one node simultaneously. The technology is a key component in Vitalik Buterin’s Ethereum roadmap for decentralization.
Because of the high cost of entry to run a validator node, critics say that the Ethereum protocol is uncomfortably centralized across only a handful of major actors. While there are just over 500,000 validators, the majority are concentrated in a handful of pools: Lido has just over 25% of the validators in its pool, Coinbase (COIN) has 11.7%, Kraken has 7%, and Binance has 5.4%.
The fund is being led by SSV and Digital Currency Group (DCG). DCG is also the parent company of CoinDesk.
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