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Google Cloud has escalated its blockchain involvement by taking allotment as a node operator on the EigenLayer mainnet on Tuesday.
This marks a pivotal moment in the tech giant’s Web3 bolt.
EigenLayer Receives Passion From Google Cloud Upon Mainnet Start
This trend, introduced by Sam Padilla, Web3 product manager at Google Cloud, highlights the tech behemoth’s dedication to the evolving restaking protocol ecosystem. Furthermore, Google Cloud has also been involving in the EigenLayer testnet since November 2023.
EigenLayer’s innovation permits Ethereum (ETH) staking at some level of numerous platforms, a ability that went live for stakers in June. Now, as a mainnet node operator, Google Cloud has transitioned from taking allotment in EigenLayer’s “Operator Working Crew” to playing a excessive role in the community’s operation.
Google Cloud has been proactive since initiating its blockchain division in early 2022. It launched the Blockchain Node Engine, initiated a web3 startup program, and solid alliances with key protocols like Polygon and LayerZero. As a result, its mission into EigenLayer represents a strategic expansion of its Web3 footprint.
Read extra: What Is EigenLayer?
Amid concerns about gargantuan cloud services and products affecting decentralization, EigenLayer maintains a balance by allowing numerous participation in its operator registry. Due to this truth, Google Cloud’s involvement enhances the protocol’s robustness and inclusivity.
Furthermore, the original mainnet activation introduced EigenDA, a original files availability resolution. Though the EigenLayer mainnet originate included some barriers, honest like now not together with slashing, it signifies a considerable step toward fat protocol maturity.
“We’re allowing the EigenLayer market to create and stabilize earlier than introducing in-protocol funds and slashing to mainnet later this year,” EigenLayer explained.
The initiative has accelerated EigenLayer’s converse, with its total set locked (TVL) exceeding $13.33 billion, ranking it as the 2d-most intelligent DeFi protocol. The liquid restaking tokens (LRTs) narrative will most definitely be revolutionizing DeFiwith EtherFi on the forefront, boasting a TVL of over $3.82 billion.
Vastly, mission capital passion in such rising blockchain innovations is surging. As an illustration, Andreessen Horowitz invested $100 million in EigenLayer in February, highlighting the sector’s doubtless. Furthermore, Binance Labs’ funding in Renzo underlines the vitality of the liquid restaking domain.
Read extra: Ethereum Restaking: What Is It And How Does It Work?
Renzo Protocol serves as EigenLayer’s restaking hub, integrating Ethereum wise contracts to streamline the restaking route of. It’s the 2d most intelligent liquid restaking protocol with a TVL of virtually $3 billion.
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