EigenLayer plans to provide a "shared security" model for DApps

ChainCatcher news, according to The Block, the Ethereum restaking protocol EigenLayer plans to adopt a "shared security" system, which is a mechanism that allows protocols to join the network by leveraging a public ETH staking pool. In the future, the team intends to push the project towards a major decentralized application platform and enable other projects to launch using the so-called shared security. This version will allow the amount of ETH restaked on EigenLayer (currently over $1.7 billion) to be simultaneously available for all services developed on the network, achieving a universal security mechanism. This will make it economically unfeasible for attackers to destroy any given protocol.

Despite significant differences in mechanisms, projects like Polkadot have previously introduced such shared security models. Polkadot is a blockchain ecosystem protected by a relay chain and a native token called DOT, while EigenLayer will allow ETH stakeholders and those holding ETH liquid staking tokens (LST) to restake these assets to economically secure blockchains or services that do not necessarily operate on Ethereum.

Last March, EigenLayer developer EigenLabs completed a $50 million Series A funding round led by Blockchain Capital.