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DVT

Distributed Validator Technology (DVT)  is similar to multisig for validators, as it distributes validator keys among multiple distinct nodes. DVT enables several nodes to share the responsibilities of an Ethereum validator, boosting fault tolerance and resiliency. In doing so, it increases validator uptime and reliability by decentralizing failure points and decreasing the likelihood of slashing events. With DVT, solo-stakers no longer need to worry (as much) about maintenance concerns that might reduce their long-term gains. SSV, Obol, and Diva are the three leading DVT options, and both are live on testnet.

ssv.network

Based on the Ethereum blockchain, ssv.network offers a unique, decentralized staking infrastructure, largely predicated on the concept of secret shared validators (SSV). Conceptually, SSV and Distributed Validator Technology (DVT) are interchangeable terms. This innovative idea was first proposed in a theoretical discourse by esteemed Ethereum Foundation researchers, Aditya Asgaonkar and Carl Beekhuizen, back in 2019.

The entity spearheading the development of ssv.network is Coin-Dash Ltd, doing business as Blox Staking. The Israel-based organization boasts a team exceeding 25 dedicated full-time members, led by CEO and founder Alon Muroch. Notably, Blox Staking has a history of collaboration with the Ethereum Foundation and ConsenSys, contributing to a research and development group focused on materializing an SSV proof of concept. This collaborative effort received a significant boost with a grant awarded by the Ethereum Foundation in February 2021.

Among the key contributors in this working group were Collin Myers of ConsenSys - who later co-founded Obol Labs - and Mara Schmiedt, the then-Business Development Lead at Bison Trails. Presently, Schmiedt is serving as the CEO of Alluvial, a software development enterprise facilitating the creation of the Liquid Collective, an advanced liquid-staking protocol, while also serving on the board of Obol Labs.

The native token for ssv.network, denoted as $SSV, serves a dual purpose. Primarily, it is used for governance within the SSV DAO. Secondly, it functions as the network's payment layer, aligning the interests of all participants. Validators on the network receive $SSV from stakers for their role in managing validators and generating ETH rewards, while stakers, in turn, pay operators in $SSV and receive ETH rewards directly from the Ethereum blockchain.

The $SSV token was originally the CoinDash token (CDT), associated with a data-aggregation platform facilitating crypto accounting, token tracking, and portfolio management. After a cybersecurity incident in July 2017 during its ICO, which resulted in approximately $7.5M of ETH being stolen, the CoinDash team managed to recover the stolen ETH, working in coordination with law enforcement agencies, ensuring that all victims were fully reimbursed with their CDT.

At present, there's a strong possibility of ssv.network launching on the Ethereum mainnet within this year. The network continues to build upon its already robust ecosystem of operators, partners, and grant recipients, attracting more developers to create DVT-based staking apps and protocols on the ssv.network.

The ssv.network team has been running public testnet versions for almost two years, and in March, they announced Jato, their V3 testnet. With plans going smoothly, Jato is expected to transition into the ssv.network mainnet by the end of the year. For more updates on ssv.network’s progress, the community calls are an excellent resource.

Ultimately, for cryptocurrency investors and users, understanding and engaging with innovative projects like ssv.network represents a strategic move in staying ahead in a rapidly evolving digital asset landscape.