Opinion by: Alon muroch, founder of SSV Labs
Even if Ethereum remains a leader in terms of total locked value (TVL), things are not superb. The activity of the network is a hemorrhage and the momentum slides. Ethereum was locked in a struggle for his future. Without significant change, Ethereum may become inaccessible to manufacturers and users he needs to prosper. Ethereum needs new ideas to strengthen the ecosystem of its collapse, unify it and truly support innovation.
Enter applications based on applications (BAPP), which are any application or service that uses the Ethereum validator for security. Inspired by the based movement, the BAPPs allow any bootstrap project directly from the Ethereum (L1) layer, allowing an interoperable, evolving and profitable development.
High issues and high costs
The recent drop in network activity highlights a deep problem on Ethereum, and this comes down to UX. The race for a blockchain does not only concern TVL and transactions per second (TPS). This is the experience of users and developers who co-create the ecosystem. The ease of development and ecosystems and applications of interoperable developers are essential. Improving the experience of developers is crucial to improve the user experience, which stimulates adoption.
Today, manufacturers receive two options. The first and most popular is replenishment, which has become the default mechanism for bootstrap of new services by locking the keys to withdraws from validators or large quantities of capital for security. This leaves the teams with a single other embarrassing alternative: self-drunk. The construction of a set of validators from zero is heavy with resources, technically complex and often begins at the center. The two choices limit manufacturers and do not solve the problems of fragmentation that we see today in Ethereum.
It is not only the manufacturers but the validators who are affected by this system. In the current retirement configuration, validators who wish to earn more performance by supporting the new services must renovate, lock their withdrawal keys and take additional risks. By locking with withdrawal keys to secure applications with oblique capital, validators are exposed to cascade risks which, on a scale, could affect Ethereum itself – a basic gap of the founding vision of Ethereum.
Baps are more secure
Baps offer a more accessible third option for self-drums and replenishment. The use of the based safety infrastructure considerably reduces entry barriers for any size protocol in order to build safely and durably, while preserving the traditional network effects of Ethereum. Validators are encouraged to join risk of risk without risk; Developers can access security at an affordable price to build; And users benefit from a unified and interoperable ecosystem.
Recent: SSV network to create an infrastructure of “based on” applications for Ethereum
Critical services such as rolls, bridges and oracles do not need to reinvent the wheel. They simply plug into an existing trust safety model. Using Ethereum validators as a main safety basis, any out -of -protocol service can inherit decentralization and resistance to Sybil from Ethereum L1. It is also possible to extend this paradigm beyond Ethereum, allowing other L1 validators to secure BAPPs. This potentially transforms BAPP into a multi -hole safety market, considerably reducing the complexity (and cost) of developers and the increase in the bar of the whole ecosystem, offering a “based” route.
Baps allow validators to earn more with their existing participation. By mainly using the validator’s principle as non -slashable security, validators can opt for many services via their role as an Ethereum Validator existing without having to hand over or provide additional issues. This would encourage the wider participation of validators, in particular smaller or more opposite operators, which is excellent since solo stakers are an important ecosystem pillar.
Bapps unlocks scalability
The BAPPs also revolutionize the current Ethereum priming ecosystem, which is based strongly on a Slashable capital. In replenishment, the gain of a participant can correspond directly to the loss of another, creating a zero -sum model. Building a competitive dynamic where participants must add or reallocate resources instead of sharing them, therefore working against new entrants by creating competition for limited attention and resources.
The conversely based economy promotes an infinite game, transforming competition for resources into a synergistic environment where new applications, services and participants increase the overall value of the platform. Each new validator increases the safety of the BAPP, and each new BAPP offers new opportunities to the validators. This infinitely evolving model is released from the limits of a zero -sum model, allowing Bootstrap without seam, by rewarding innovation and building safer, inclusive and resilient ecosystems.
Unification of the fractured ecosystem of Ethereum
For Ethereum to develop, the fragmentation must be addressed. Manufacturers need construction blocks, which must be secure, at low cost, interoperable and scalable. Think about what Cloud Computing has done for web2. The BAPPs offer exactly that – by introducing an infinite sum game, they unlock scalability and provide a safe and affordable means of Bootstrap with the Ethereum proof network.
If Ethereum must be the foundation of the decentralized world of tomorrow, it must empower manufacturers today. The path to follow is to solve the problem of the experience of the user and the developer of Ethereum with a based infrastructure. The base is the clear solution.
Opinion of: Alon Muroch, founder of SSV Labs.
This article is for general information purposes and is not intended to be and must not be considered as legal or investment advice. The points of view, the thoughts and opinions expressed here are the only of the author and do not reflect or do not necessarily represent the opinions and opinions of Cointellegraph.
