EigenLayer Gets $70M From a16z to Launch Off-Chain Verifiability Platform

For years, Blockchain developers faced a frustrating limit: their applications could only check what happened at the blockchain itself.

Everything else, from AI calculation to real world data, is left trapped in a vacuum of trust. Eigenlayer believes he pierced the code.

The Ethereum re-launch protocol announced on Tuesday that DIV Venture Capital Andreessen Horowitz has invested an additional $ 70 million to start Eiggentloud, a platform expanding blockchain’s verification capabilities on any report, whether in a chain or outside the chain.

“Eigentloud turns that momentum into a unique platform,” said Eigigen Labs Executive Director Sreeram Kannan Decipher. “Anyone who builds on any blockchain can implement verifiable apps without needing to be a blockchain expert.”

One of the ways in which the Eigentloud platform is to help developers to know “how to properly be implemented through programming reduction, adapted to settlement and a flexible selection of the operator,” Kannan explained.

The investment from the A16Z CRIPTO Fund IV follows previously $ 100 million in series B lap. With more than $ 12 billion locked, Own It became the largest protocol to restart Ethereum from its launch of the mainnet two years ago.

The new platform resolves a fundamental limit in the development of blockchain: the inability to verify complex calculations outside the chain with the maintenance of guarantees of trust at the Blockchain level.

Over time, Eigenlayer predicts a platform as something that could transform verification “into programming, economically primitive” that could act “where trust and correctness are more important,” the statement said.

Breaking the barrier

Eiggloud introduces three basic components: eigenverify for dispute solving, data available for data and eigencuts for execution.

New components allow developers to build applications that operate the tasks outside Blockchain with the preservation of a cryptographic check.

The platform operates through the Eigenlayer network Autonomous proven services (AVSS), with over 200 services currently living or in development.

AVS is decentralized outside the module chain that affects the common, restored Ethereum safety eigenlayer to start customized, verifiable tasks, such as Walnuts, Bridges, data availability and medium software.

These services use the Protocol approximately $ 12 billion in the USD Restaud assets to provide about $ 2 billion in the app value.

Financial Securitize Financial Services Planns to Use a Platform to Verification of Property Prices for Blakkrock’s two billion dollars Buidl tokenized FundMarking one of the first implementation of Eiggentloud.

Asked about reducing the risk with AVSS, said Eigen Labs’ Kannan Decipher This characteristic is “built with systemic resistance in mind”, at the same time recognizing cutting as “a mechanism for the implementation of the nucleus that economically encourages the truth.”

In this case, Kannan claims that the implementation of cuttings is “isolated” by single AVS.

The reduction refers to the criminal mechanism in which the part (or all) property of the re -re -restore may be forcibly taken (disgusted) if an operator who delegates to act unfair or wrong while running AVS.

Such events are “not poured between AVS or to the basic Ethereum layer. This section ensures that failures are localized and that may contain, not systemic,” Kannan said.

“Eigenlayer prevails the technical narrow throat blockchains to allow a new category of application,” said Ali Yahya, who led an investment for A16Z.

Platform targets the use of AI check, predictions markets, medical documentation and traditional web services that require verifiable calculation.

By enabling the services of calculating outside the chain of supported Eigenlayer’s re -start mechanism, developers can build applications that were previously impossible within blockchain restrictions.

Developers can access the alpha version starting at Tuesday, with an upgrade of performance for eigenda and a limited approach to EIGENVERIFY SERVICES.

The wider availability is planned for later this year, with additional ways to resolve disputes and automated tools for development infrastructure management.

Edited Sebastian Sinclair