Rio network Acquired by Eigen Labs for Ethereum Staking

By Novasky | DevPress | 13 Jun 2024


Rio network has bee making the waves into the restaking tech of Ethereum. And they have also made their token in the process. Turns out the rio network has been working really good on the restaking tech that Eigen labs has decided to buy them and open source their code and tech. And then they would be building the restake and staking tech on their own network while they make the code available for all. 

The announcement for the Eigen lab acquiring the Rio network is explained in the tweet too. 

Rio network is going to remain independent on the part of the token, underlying node operator tech and the existing running resources. However the developer team that is working on the restaking and the Ethereum node operators for this smart contracts and the existing tech stack they are going to make sure to be ported to the Eigen labs. 

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Does this helps consumers? Yes. This would be soon taken by the govt and the banks. And they would be investing into this type of the tech eventually. And for this reason It'd be possible for the tech like this to get some stability. And that would also mean that there is a need for the adoption of similar tech into the international standards too. 

You can check out the Eigen Labs and Rio network

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Novasky
Novasky

Crypto Blogger and Open Source Developer.


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