SSV.NETWORK announces $50M fund to promote Ethereum through DVT apps 

ssv.network DAO has announced the launch of a $50 million Ecosystem Fund with the aim of advancing Ethereum’s decentralization through the use of Distributed Validator Technology (DVT)-based applications.

DVT is an open-source protocol that enables the delegation of a validator’s duties to various nodes. The protocol is an important part of Vitalik Buterin’s vision for Ethereum 2.0, as it aims to increase decentralization through the implementation of more DVT.

 According to SSV Network, a number of staking companies and venture capital firms, including One SevenX,One SevenX, 1kx, OKX, HashKey and NGChave, have teamed up to promote DVT.

Also, more than 20 proof-of-stake projects, including Blockscape, ANKR, and Moonstake, will each receive $1.2 million, aside from the previously committed $3 million toward developer incentives.

Alon Muroch, the Core Dev Lead at SSV noted that the distribution of Ethereum’s security layer, has never been more important and the goal of DVT is to enhance Ethereum’s security by providing easy access to an open-source, public good that will fundamentally change the way staking is currently done.

“We anticipate a rise in staked assets as staking yields become the standard return for ETH owners.”

He further stated that SSV is one of the few groups that are in the best possible position to bring together the various cutting-edge products and applications that are employing and advancing staking technology.

The move to proof-of-stake in Ethereum is a multi-phased process intended to improve the network’s scalability, security, and decentralization. With the introduction of ETH staking, can now actively participate in verifying transactions. On Ethereum, you must stake at least 32 ETH before you can become a validator.

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