Key takeaways
- SSV Network achieves 1 million ETH staked milestone.
- Supports nearly 30,000 validators and 700+ node operators.
- Plans to cut hardware requirements for node operators by 75-90% within a year.
SSV Network hits major milestone
SSV Network, an Ethereum distributed validator protocol, has reached a significant milestone with 1 million ETH staked on its platform. This achievement comes after the launch of its permissionless network in December 2023. They achieved their 1 million ETH goal just 3 days after their #1mDVT post on X.com.
The network, now boasting over $3 billion in total value locked (TVL), supports nearly 30,000 validators and over 700 node operators globally.
The network enables developers to create staking applications using Distributed Validator Technology (DVT). This technology increases resilience, uptime, and decentralization by distributing validator duties among trust-minimized node operators.
Integrations with platforms like Lido Finance, Ether.fi, P2P.org, and Renzo have strengthened SSV Network’s validator distribution. A team member from SSV Labs highlighted the network’s alignment with Ethereum’s open-source ethos as key to its rapid adoption.
“SSV Network is creating the new gold standard for ETH staking and taking the industry by storm because it builds on the Ethereum community’s open-source, permissionless, and trustless ethos.” —a team member from SSV Labs
SSV Network has also announced an updated roadmap aimed at reducing hardware requirements for node operators. Although moving to an 8-core CPU has increased costs, SSV Labs is working on solutions to reduce these requirements by 75-90% over the next year.
The bottom line
Reaching 1 million staked ETH marks a major milestone for SSV Network. This reinforces its position as a critical infrastructure in the staking and restaking ecosystem. With continued development and major integrations, SSV Network is set to further improve Ethereum’s cryptoeconomic security.
