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Khế Ngọt
@khengot
Actively Validated Services
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Matngot
@matngot
Around the same time, an anonymous programmer known as Satoshi Nakamoto was altering the fabric of capitalism in a different way. By figuring out how to get computers distributed across the globe to agree on a common truth without having to trust each other, Satoshi solved a problem that had perplexed computer scientists for decades. It was a pivotal, zero-to-one innovation in the history of technology.
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@lammay
Astonishingly, these infrastructure expenses had virtually zero correlation with a company’s unique product or service. You could be building a pet store or a social media network, and you would have to go through the same process from the ground up. By some estimates, 70% of engineering hours were spent building and maintaining data centres, and only 30% were spent on the actual business.
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@canon
Nodes in these networks could have an inherent incentive to manipulate the truth, such as falsely displaying a token balance as higher than it actually is. However, as long as most of the network agrees on the actual truth, the malicious actor can be ignored. The situation gets precarious when a majority of the network agrees on a state that deviates from the truth. In such a case, the network is compromised.
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@vestlab
Satoshi ingeniously combined concepts from cryptography and game theory and created Bitcoin's proof-of-work system to solve this problem. Most networks today use a variation of PoW, proof-of-stake (PoS), with four key elements:
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@guop
Let’s revisit the problem—you have a global network of computers, each operating independently, and you need to establish consensus on a shared truth without them trusting each other. This truth could be anything— the balance of a token in an account, the stock price of NVIDIA, the result of a complex computation, or the availability of a file on the network.
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@iguverse.eth
But before getting into what an AVS is, let’s first understand why it can be so difficult to bootstrap a distributed network in the first place.
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@vientin
When a problem starts affecting a sufficiently large number of people, solutions emerge. Amazon made it easy to start an internet company, and now the EigenLayer team is doing the same for those seeking to build trusted distributed computer networks. Each network built on EigenLayer is termed an Actively Validated Service (AVS), the topic of this article.
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@chicken
However, setting up such a decentralised network from scratch is similar to starting an internet company pre-AWS—costly, resource-intensive, and often tangential to the network’s core problem. And given that many of these networks handle real money right from inception, the consequences of errors are catastrophic.
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@chetruoi
While Satoshi’s Bitcoin primarily used this trustless distributed system to maintain a payments ledger, Vitalik Buterin created Ethereum, expanding it to support any general-purpose computation. Over time, other use cases for this system started emerging—from decentralised storage networks like Filecoin to oracle networks such as Chainlink that securely provide real-world data to blockchains.
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@tuoitrecuoi
You will have to start by looking for a set of validators—actors who have both the technical expertise and hardware to become part of your network. Where might you find such individuals? Likely on Discord and X. However, to really capture their attention amidst a sea of competing projects, you will need to either execute a marketing masterclass or secure substantial VC funding.
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@vinhtuong
Given this context, put yourself in the shoes of a team who wants to build a PoS network from scratch.
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@dtmyxuyenst
Protocols on certain blockchains, such as Ethereum and Solana, offer stakers a liquid token in exchange for staking the native token (Lido, for instance, provides Ethereum stakers with the stETH token). This derivative asset is termed a Liquid Staking Token (LST). I have explained the concepts of staking and LSTs in a previous article.
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@khet
PoS networks allow regular users, who may not directly validate the network, to delegate their stake to validators and earn a portion of the rewards validators receive for their role. However, this approach also exposes users to the risk of their stake being slashed if the chosen validator acts maliciously.
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@bronu
Strength in distribution: A larger number of validators with a well-distributed stake makes the network more resilient to attacks.
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@salonpas
The Stick: Malicious actors face economic penalties. Validators must deposit a stake of the network's native token to participate. If they act maliciously, their stake may be destroyed (slashed).
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@dutho
The Carrot: Genuine participants (validators) receive financial incentives through transaction fees from users and newly minted tokens from the network.
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