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EigenLayer Mainnet Attracts Major Players as Operators, Including Google Cloud and Coinbase

Major firms join EigenLayer as operators

EigenLayer, a protocol that enables a shared security model for Ethereum stakers, has attracted several major players as operators shortly after its mainnet launch.

Key takeaways:

  1. Coinbase Cloud and Google Cloud, among other firms, have joined EigenLayer as operators to support the protocol's services.
  2. The mainnet launch allows restakers to delegate their stake to operators, who can choose to run actively validated services on EigenLayer.

Coinbase Cloud has announced its participation as one of the first operators on the EigenLayer protocol, stating: 

"Coinbase Cloud is proud to be among the protocol's first Operators, ready to serve as a trusted partner for your restaked ETH or LSTs." 

This move highlights the growing interest in EigenLayer's shared security model among prominent firms in the cryptocurrency industry.

Google Cloud, another significant player, has also joined as an operator. Sam Padilla, a product manager at Google Cloud, revealed that his team had been involved in Eigen's testnet since November and has now implemented an operator node on the mainnet. Google Cloud's participation in EigenLayer aligns with its existing web3 infrastructure services, which include node hosting and validator operation management for various blockchains like Ethereum, Solana, and Aptos.

Other notable firms joining EigenLayer as operators include Deutsche Telekom MMS, HashKey Cloud, P2P, Nethermind, Figment, Everstake, Kiln, and AltLayer. These companies will provide services to applications and process transactions in exchange for rewards, contributing to the overall security of the EigenLayer ecosystem.

EigenLayer mainnet launch enables staking delegation

The recent mainnet rollout of EigenLayer and its data availability layer, EigenDA, has paved the way for restakers to delegate their stake to their preferred operators. This development also allows operators to decide whether to run an actively validated service on EigenLayer, further enhancing the protocol's functionality and appeal.

By participating in the EigenLayer protocol, operators can offer services to other applications and process transactions, earning rewards in the process. This additional security layer is derived from the already staked ETH on the Ethereum network, providing a robust foundation for the ecosystem. For example, operators of the data availability solution will enable Layer 2 scaling solutions to incorporate it for their scaling needs.

EigenLayer's shared security model enables Ethereum stakers to delegate their staked assets, whether native ETH or derivative tokens, while their ETH remains staked on the Ethereum network. This delegation also allows stakers to engage in multiple blockchain applications simultaneously.

Currently, operators are not validating any services, as EigenLayer is allowing the operator and AVS marketplace to develop and stabilize before introducing in-protocol payments and slashing to the mainnet later this year. The total value locked in EigenLayer has already surpassed $15 billion, demonstrating the protocol's growing popularity and potential.