ARPA Network Launches EigenLayer AVS: Enhancing Network Security, Availability and Scalability with Esteemed Operator Partners
Singapore, Singapore, June 12th, 2024, Chainwire
ARPA Network has launched an EigenLayer-secured Actively Validated Service (AVS), marking a significant step in its multi-chain expansion. This integration aims to strengthen the security, availability, and scalability of the ARPA Network. Additionally, over 20 esteemed operator partners have been onboarded to enhance ARPA Network’s infrastructure.
What is EigenLayer and AVS?
EigenLayer is a protocol built on Ethereum that pioneers restaking, a new concept in crypto-economic security. At its essence, EigenLayer comprises a suite of smart contracts enabling users to restake their natively staked ETH or liquid staking tokens (LST), and bootstrap new proof-of-stake (PoS) networks and services. In return, restakers can earn additional staking rewards, which are currently recorded in the form of points.
EigenLayer’s architecture includes four key components: actively validated services (AVS), restakers, operators, and AVS consumers. As one of the AVSs, the ARPA BLS Threshold Signature Scheme (BLS-TSS) Network is a decentralized network composed of multiple dynamic groups of nodes that securely generate BLS threshold signatures. Randcast, ARPA Network’s first product, provides secure and reliable random number generation on multiple blockchains. Other AVSs include data availability layers, shared sequencers, oracle networks, bridges, coprocessors, applied cryptography systems, and more.
How Does EigenLayer’s Mechanism Function?
In simple terms, AVS consumers, typically dApps, request computation tasks from AVSs, which in turn seek a range of services from operators. Operators receive restaked ETH or LST delegations from restakers, operate specialized node software, and execute tasks for AVSs. This approach facilitates Ethereum’s “shared security” among a broader spectrum of developers in a more streamlined manner.
Reasons for Integrating EigenLayer
Enhanced Security. ARPA Network features robust security through the architecture of dynamic node groups that reduce reliance on centralized authorities. With the integration of EigenLayer, ARPA Network fortifies its security infrastructure by leveraging Ethereum’s shared security. It aligns with EigenLayer’s notion of Dual Staking, which utilizes staking of two tokens – ARPA native staking and ETH restaking – to guarantee the security of ARPA Network. This enhancement cultivates a more reliable environment for ARPA Randcast users.
Advanced Availability. The addition of more nodes increases the number of available groups, which improves the network’s fault tolerance. This ensures a higher probability of task execution, enabling users to achieve superior service quality.
Improved Scalability. EigenLayer optimizes security resource allocation, allowing operators to secure multiple protocols efficiently simultaneously. By collaborating with additional operator partners within the EigenLayer ecosystem alongside ARPA’s existing staking mechanism, ARPA Network advances its scalability, stability, and sustainability. This strategic alignment empowers Randcast users with enhanced service scope.
Potential Applications of EigenLayer, ARPA Network, and Randcast
We all acknowledge that randomness is ubiquitous and essential in autonomous worlds. From the infrastructure to decentralized applications, fairness ensured by randomness is the basis of all rules. Therefore, with the foundation being enhanced by EigenLayer, ARPA Network and Randcast are better positioned to serve the builders across many fields, including but not limited to the following:
Games. Randcast enhances the gaming experience by guaranteeing fairness and randomness in random elements of games, such as character attributes, item properties, matchmaking, map generation, event outcomes, divination, and sometimes winner drawing.
NFTs. Randomly assigned rarity tiers in NFT series are crucial. Users need assurance that the results are generated by tamper-proof randomness.
Blockchain Consensus. Builders can integrate Randcast into the consensus layer, adding a modular random beacon for the blockchains they develop.
Marketing & Community Campaigns. Leveraging Randcast, builders can create marketing tools to randomly select community giveaway winners, customizing weighting metrics such as engagement and token staking.
DAO Governance. Randcast can certify a fair random sample voting process, ensuring that the opinions of a larger Web3 community are adequately represented.
Collaborations and Future Outlook
The launch of ARPA Network AVS on EigenLayer is supported by numerous operator partners with over 4.5 million ETH (approximately $16 million) in restaking. This collaboration aims to enhance ARPA Network’s security, availability, and scalability, providing superior services to Randcast users and empowering Web3 builders.
ARPA Network’s journey of exploration and expansion across multiple ecosystems will continue. Our dedication to empowering Web3 builders with robust and secure infrastructure, along with standardized and modularized randomness functionalities, will only strengthen. Stay tuned for further updates!
About ARPA Network
ARPA Network (ARPA) is a decentralized secure computation network built to improve the fairness, security, and privacy of blockchains. ARPA threshold BLS signature network serves as the infrastructure of verifiable Random Number Generator (RNG), secure wallet, cross-chain bridge, and decentralized custody across multiple blockchains. ARPA is backed by Binance Labs, Arrington Capital, DWF, and several other funds.
