SSV.Network is a decentralized, open-source network that can build high-performance, secure Ethereum-staking dApps. The protocol utilizes Secret Shared Validators (SSVs) or Distributed Validator Technology (DVT), an open and straightforward infrastructure for splitting and distributing a validator key into multiple KeyShares for secure, high-performance, and decentralized ETH staking applications.

SSVs form the networks core, providing a secure and robust way to split a validator key for ETH staking between non-trusting nodes or operators. Any user can run an Ethereum validator node on SSV.Network conveniently by eliminating the need for a centralized validator. In its place, the network helps create a distributed validator, increasing the overall security and decentralization of the Ethereum PoS network.

SSV Network supports various staking applications, including Staking Pools, Staking Services, Solo Stakers, DAOs, Institutional Staking, Bridges, Shared Validators, and Slashing protection. The project offers developers a flexible infrastructure to create decentralized staking applications.

SSV, a ERC-20 token on Ethereum, is the native token of the SSV.Network, and is required for using the network and its services, making payments, and generating rewards. It also serves as the governance token, allowing token holders to submit proposals and vote on others proposals about the future evolution of the SSV Network.

The SSV.Network serves as a middle layer between a beacon node and a validator client on the Ethereum network. It consists of the following key components:

Distributed Key Generation

An SSV instance operator can calculate and generate a shared public and private key set. Each participating operator owns a portion of the private key for true decentralization, preventing any single operator from taking over the entire private key.

Shamir Secret Sharing

A predefined threshold of KeyShares can help reconstruct a validator key using this process. While individual KeyShares cannot sign a duty, the system also allows for some faulty KeyShares.

Multi-Party Computation (MPC)

MPC on secret sharing lets SSVs KeyShares be distributed among operators securely. This process also ensures decentralized computation of validator duties without reconstructing the validator key on a single operators device.

Istanbul Byzantine Fault Tolerance (IBFT) Consensus

SSV Network utilizes an IBFT consensus algorithm to randomly select a validator node to propose new blocks and update other network participants. The predefined threshold of KeyShares determines whether the block is valid before it gets added to the blockchain.

SSV.Networks public testnet was launched in April 2021, mainly to test the consensus mechanism used to function as an Ethereum validator. The project was initially called Blox Staking and received a grant from the Ethereum Foundation to develop Secret Shared Validators (SSVs) for Ethereum 2.0. It was later renamed to SSV.Network.

The project was forked to create SSV.Network V2 in April 2022. Network V2 fixed the number of validator subnets at 129, unlike the previous version, where each new validator created a new sub dynamically.

The Shifu SSV testnet V2 went live in August 2022, with several upgrades on validator and operator management, smart contract functionality, SSV fee payment, and more. Shifu V2, the new version of the SSV node, was announced in February 2023, letting all network nodes participate in duties used in Ethereums consensus.

In March 2023, the team announced the most recent iteration of their public testnet Jato. As of April 2023, this is the latest version of the network (testnet V3) and is the mainnet candidate of SSV.Network.

SSV Network may be an intriguing addition to your portfolio, especially if you believe in the future potential of staking on the Ethereum ecosystem. As a provider of decentralized staking infrastructure for Ethereum, increased staking activity on the network could generate investor interest in its native token and support the price of SSV.

The price of SSV.Network token could strengthen as more developers build staking dApps using its technology. Increased innovation in Ethereum staking could drive the value of SSV higher in the market, making it an attractive asset to hold.

The price of SSV coin could also receive support from an improvement in market sentiment towards cryptocurrencies and the DeFi sector in particular. Such positive sentiment could increase investor demand for tokens like SSV and boost its value.

While it is impossible to offer an accurate SSV coin price prediction over any given time frame, several factors could provide insights into the price action and volatility of SSV.Network crypto. These factors include:

Level of Adoption

As more developers use SSV.Network's technology to build and deploy staking dApps on Ethereum, the value of SSV coin could increase. The increased on-chain activity could make the token more appealing to investors, boosting the SSV price statistics in the crypto market.

Future Innovation

Rolling out more upgrades that enhance the versatility of the project and add more use cases for its technology could make SSV.Network more attractive as a platform to use. This could contribute to an upward trend in the SSV.Network coin price.

Market Outlook

A positive outlook towards digital assets in general, as well as DeFi and staking, could play a vital role in supporting the SSV token price. Increased demand for staking services on Ethereum as Ethereum 2.0 rolls out could also enhance the appeal of SSV crypto as an investment.

Secret Shared Validator (SSV) is the native token of SSV.Network and has the following use cases:

Native Currency

$SSV is used for stakers to compensate operators who manage their validators. It creates economic incentives for operators within SSV.Network, allowing them to fix their fees and compete with others in the decentralized network.

Governance Token

$SSV holders can also participate in the governance mechanism of SSV.Network. They have voting rights on important decisions such as future upgrades and treasury allocations.

Crypto Asset to Trade and HODL

Trade the SSV.Network token against other digital assets to profit from changing market conditions and volatility. You can buy or sell SSV on BYDFi Spot Market or other supported platforms, or choose to hold it long-term if you believe in the future potential of the SSV.Network project. Remember to DYOR before making investment decisions, as digital assets are subject to high market risk and volatility.

There are two primary ways to earn on SSV.Network:

Operators

Operators can earn $SSV from stakers by managing their validators. They generate ETH rewards on behalf of stakers on the network and participate in decentralized staking activities supported by the platform.

Stakers

You can also earn on SSV.Network by participating as a staker. In this process, you must pay operators SSV tokens and earn ETH rewards from their validators.

In addition, you can also earn $SSV by trading it in the crypto market or holding it for an extended period.

SSV.Network has an impressive list of partners supporting it, including Oneinfra, Amber Group, AU21 Capital, BloxStaking, Chainlayer.io, Coinbase Ventures, DCG, Lead Capital, NGC Ventures, and more.

In addition, the project counts Ankr, Blockscape, Lido, Stader Labs, StakeStar, Swell Network, ChainUP, and more among its grant recipients.