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Press: The latest news, encrypted VC A16Z announced that it invested $ 100 million in Eigenlayer Eigenlayer.A16Z partner ALI YAHYA posted an explanation of why A16Z invested in EIGENLAYER.0xjs@Bit chain vision translation.
The founders who have all visions and plans to change everything are extremely rare.I realized that Eigenlayer founder Sreram Kannan not only was talented, but also fundamentally, his vision of the future is so clear and attractive. When you talk to him, it will immediately become realistic.Sreram has something I call the Promus flame; the reason why he is committed to bringing a new technology into life is first because of the future it created.
The first time I saw Sreram was in 2019. At that time, he was a associate professor at the University of Washington and began his own entrepreneurial journey.Sreram has left a deep impression that since then, we have been in contact with the world -class teams he and he formed in these years.In 2022, Sreram delivered a eye -opening speech on our summer research scholarship on EigenLayer and EIGENDA. Last year, Shuibhik, the person in charge of the research of the EIGENLAYER agreement with EIGENLAYER, delivered a comprehensive comprehensive on Slashing encrypted economics on our blog.Overview.
Today we are glad to announce that we have led EIGENLAYER’s Series B financing.We are glad to cooperate with Sreram and the entire team to build a platform to open a new dimension of open innovation above Ethereum.
background
If you don’t narrow the range first, it will be difficult to fully understand Eigenlayer.At the beginning, there was only Bitcoin. It was the first example of the entire blockchain built for a single application. At that time, it was paid on the surface, but since then, it is more like digital gold -a value storage means, Despite volatility.
The genius of Ethereum is to split the Bitcoin method of single applications by separating consensus from the logic of the application on it.Ethereum enables developers to write their own applications in the form of smart contracts, and use the overall security of the blockchain and computing resources.This change alone has released a huge design space for open innovation, which has led to almost everything we know and love the space today.This means that people can now build decentralized applications without having to start their own blockchain.
Ethereum’s higher -level programmability brings a huge release for a set of applications.However, it is not unlimited.It still has many requirements for what can be done as a developer and what they cannot do.For example, the code you write must be compatible with the Ethereum virtual machine (EVM). For some applications, it is still a good computing model -those applications that sufficient lightweight can adapt to the Ethereum areaBlock size and GAS limit -but not other people who may be heavier or need special functions.
In the ideal world, as a developer, you should have almost complete freedom.If needed, you should be able to use any code set, your own consensus mechanism, your own data communication algorithm, your own block time and GAS limit, and even your own hardware requirements to build decentralized services to build decentralized services(For example, the GPU or the trusted execution environment).You will be able to complete all these tasks without starting your own blockchain network from scratch.On the contrary, you will be able to build the most programmable blockchain: Ethereum’s decentralized and safe authentication set.
Eigenlayer
EIGENLAYER is a set of smart contracts on Ethereum, creating a two -way market for the original encrypted economic security: in terms of demand, it allows customized decentralized services to write an effective expansion of Ethereum function.Moreover, in terms of supply, the verifications participating in the Ethereum consensus (if they happen to be capable and required) can choose to mortgage ETH to them to run these decentralized services.The end result is that Eigenlayer is a decentralized and market -based mechanism that is used to expand the function of Ethereum.
The meaning of this is profound.We believe that by further separating the security security from EVM, Eigenlayer has the potential to achieve a faster innovation of 100 times the consensus mechanism, new virtual machine, decentralized prophecy machine, bridge, and network with special hardware.Just like Ethereum by introducing smart contracts, it has unlocked innovation accelerated at the application logic level.
We are very happy to cooperate with Sreram and team to help them realize this vision.
