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OKX Announces the Listing of SSV

Cointime Official

VICTORIA, Seychelles, March. 1, 2023 -- OKX, the world-leading cryptocurrency platform announces the listing of SSV, a decentralized staking infrastructure that enables the distributed operation of an Ethereum validator. 

It is achieved by splitting a validator key between four or more non-trusting node instances (‘multi-operator node’). The nodes are collectively tasked with executing the validator's duties under a consensus mechanism. In simple terms, the protocol transforms a validator key into a multi-sig construct governed by a consensus layer.

The unique protocol improves the robustness, liveliness, and fault tolerance of nodes across the Ethereum ecosystem. Distributing validator keys between node instances suggests a major leap forward compared to existing staking schemes that fall short when it comes to:

  • Validator keys can be stored offline
  • Active to active’ redundancy
  • Node instances customizability
  • Threshold signature scheme

ssv.network is the first public implementation of the SSV primitive, which originated as a research piece by the Ethereum Foundation back in 2019 and since then has grown to a DAO-governed, community-driven network of stakers, builders and node operators.

OKX Ventures is among ssv.network’s investors. Founder of OKX Ventures Dora commented, "We are excited to support ssv.network. We are also a founding member of its $50 Million Ecosystem Fund dedicated to supporting the development of Distributed Validator Technology (“DVT”) based applications to usher in the next wave of Ethereum staking technologies."

To learn more about OKX, visit: okx.com

About OKX Ventures

OKX Ventures is an investment institution under the worldwide top trading platform OKX. It focuses on exploring the best blockchain projects on a global scale, supporting the most cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

OKX Ventures is also committed to helping entrepreneurs who contribute to the development of the blockchain industry build great companies and bring global resources and historical experience to blockchain projects. The initial capital of OKX Ventures is USD 100 million.

About ssv.network

ssv.network is a leader in the development of Distributed Validator Tech. DVT enables the distributed operation of Ethereum validators through a network of trustless nodes. As a core component of Ethereum’s roadmap, DVT aims to solve protocol-wide correlation and downtime risks. The network is constructed as a community-owned public good run by hundreds of nodes across the globe. The Network supports over 50 development teams building next-gen ETH staking applications. The various use cases ranging from staking services to solo stakers built on the SSV protocol will usher in the widespread usage and adoption of the DVT primitive.

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