After the ETH 2.0 Ethereum upgrade, you must know the rising star SSV🔥🚀

Since the PoS upgrade of ETH 2.0 has been successful, there will be more different projects, platforms and applications on the new Ethernet road. What are the very good and potential projects now? Staking is the most important concept in PoS now, and SSV, which is just needed as a staking node, is one of the high-profile projects in the current ETH 2.0 staking technology, providing a customized staking pool and using a more secure and stable mechanism .

What is SSV?

SSV is the payment and governance token in SSV.Network . SSV.Network will flow all the SSV obtained in these two ways into its own DAO treasury. These funds will be used to help the subsequent development of the SSV ecosystem. All members vote to build a better SSV protocol.

Payment level:

In response to ETH 2.0, SSV.Network will adopt PoS pledge technology, providing a decentralized and non-custodial customized pledge pool/tool, which can be provided to operators/project platforms (Operator). In addition, the SSV protocol provides customized pledge services. , as long as operators use the SSV protocol to build their own staking pools, they will need to pay SSV to SSV.Network as an operating cost.

On the other hand, these pools of ETH 2.0 pledged in the SSV protocol will be provided to platform users (also called verifiers, who pledge ETH to verify transactions) to use, and users will also need to bear some costs, part of which is to use and operate The transaction fee of the merchant pool, and the other part of the transaction fee for user pledge verification, also use SSV as the transaction fee.

Governance level:

Governance tokens are used in Decentralized Autonomous Organizations (DAO, Decentralized Autonomous Organizations) , which are optimistic about the SSV protocol and are officially recognized partners of SSV, such as Lead Capital, Amber Group, Coinbase and OKEx Ventures and other large VC institutions, Participated in a total of three rounds of early-stage private investment and joined the DAO. All members of the DAO can make suggestions to SSV.Network and have voting rights. Currently, the total number of members is about 224.

If the proposed proposal, the overall DAO member vote support ratio is high, SSV.Network will adopt and implement this plan, which means that large investors will also earnestly assist and jointly build a more complete system in order to make money from their invested funds. The SSV protocol, for these VCs and other investment institutions, will invest more funds than our retail investors, hoping that the future projects will get better and better and can bring them more benefits, so it is unlikely to be maliciously messed up The status of the project, and voting information for these proposals is available to everyone, including non-SSV investors, on the Internet.

What is SSV.Network ?

SSV.Network is used to assist ETH 2.0 to create a decentralized secret sharing verification pledge technology , also known as Distributed Validator Technology (DVT, Distributed Validator Technology). Team research and build.

The origin of SSV.Network

SSV.Network was formerly known as CoinDash, a tracking platform dedicated to tracking cryptocurrency assets and investment portfolios. It was established in 2018 by two Blox.io co-founders, Alon Muroch and Adam Efrima. The original CoinDash token was CDT, and the verification method adopted It is PoC (Proof of Concept), commonly known as a proof-of-concept technology.

Later, because of the negative feedback received about PoC in the market, and in response to the ETH 2.0 plan proposed by Ethereum founder Vitalik Buterin in 2017, in order to increase the speed and number of transactions per second, PoW is expected to be converted to PoS verification After the transaction, the DAO finally passed the upgrade contract proposal at the end of 2021, which transformed the project from CoinDash to the current SSV.Network, and the token also changed from CDT to SSV due to the contract upgrade.

How does SSV.Network work?

SSV.Network uses PoS to verify transactions. If you want to use Ethereum to verify transactions and earn Ether, you will need to pledge your own Ether . SSV.Network helps operators and trading platforms customize a pool of pledged Ether. It can provide individuals and institutions to pledge ether for income.

Blox.io provides a decentralized, non-custodial and open-source ether staking service, and it also ensures that validators who use the operator pool can actually get their own rewards. Operators pay fees in SSV.Network to the SSV ecosystem, from Validator users charge SSV as a handling fee, while validators can obtain ETH and use SSV as a handling fee for using the network pledge pool.

The core of SSV is to use the DVT distributed validator technology to distribute the verification keys KeyShares generated in these pools to different nodes at the same time. In the entire network domain and the same node, no one person will have a complete key, precisely because Each locked key will be partially distributed to more than one person, thus greatly reducing the probability of a single node being attacked, which will lead to the paralysis of the blockchain network. In part, it still allows the network to continue to operate and improves security, because the control of these keys is no longer a single operator, but distributed among other nodes.

All of the above technologies can make the transaction verification mode of the Ethereum network closer to the true decentralized operation .

舉例來說，今天ACE 小姐想在SSV 先生的土地上，打造一個游泳館，然後ACE 小姐可以先思考提出想要的游泳館的樣貌、規格都由ACE 決定，但SSV 會提供技術上的建議及協助, SSV 也提供更高規格的安全防護措施，除了對游泳館內使用遊玩安全上加強保護，也提高游泳館本身的安全機制，如將整個游泳館的電子防盜系統的安全密碼，給4～5個人各保管一部分，不會有人有完整的鑰匙，所以無法去更動游泳館的金庫及保全系統，也不會因為一把鑰匙弄丟而就無法營業，不知道知道彼此誰擁有鑰匙，ACE 小姐游泳館的安全性也提高了，所以願意來游泳館的客人也增加了。

Difference between PoW and PoS

PoW (Proof of Work) Proof of Work:

It is commonly known as miner mining (also known as computing power mining) . Miners need some physical computer equipment, such as graphics cards and CPUs, to write verified transactions into mined blocks. These blocks use cumbersome mathematical code. After excavating and verifying the transaction successfully, you can get tokens as a reward. If the equipment is better and the computing power (computer computing mathematical ability) is stronger, you will have the opportunity to get more opportunities to verify the transaction, in other words, you will have the opportunity to get more token reward.

 To put it simply: work for currency, the greater the workload, the more tokens you get.

PoS (Proof of Stake) Proof of Stake:

It is what everyone calls pledge mining (also known as coin mining) , which is a blockchain network token held by pledge. For example, if you put ETH2.0-PoS ether in the pledge pool, you can Help verify the transaction information in the blockchain network, and then get token rewards. If the pledger holds more Ether, or the longer the time that the new block verification has not been performed, the more Ether will be rewarded.

 Simply put: hold tokens, generate more tokens, reproduce asexually.

The biggest advantage of PoS:

PoW mining requires a lot of power, so miners have to bear the cost of electricity and physical equipment, which also has some damage to the environment. As for PoS, it is enough to hold tokens for pledge, and there is almost no problem of harming the environment. The cost of pledge verification is only Will need to hold ether.

Summary of SSV

SSV.Network is a very important technology for ETH 2.0-PoS, so many large institutions have successively participated in the investment of SSV.Network , and due to SSV's DVT distributed validator technology, the keys are stored in a decentralized manner, which improves a lot of security. Many platforms have begun to build their own staking pools in the SSV network, and the long-term cost of mining has also been reduced a lot, because the staking pools in the SSV network are not limited to holding a minimum of 32 ethers . Verify .

In 2021, many countries and enterprises will begin to pay attention to the energy consumption of Bitcoin PoW traditional mining again, because it will greatly affect the environment, because the ETH 2.0-PoS upgrade is successful, and SSV.Network with high pledge security technology will It will begin to be reused , and it is precisely because SSV coins are a necessity in the entire SSV ecosystem, and the future value may have a very good room for growth.

🌟 After reading this article, if you are optimistic about SSV in the future, you can buy it directly on the ACE exchange ❤️

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