EigenLayer is one of the most exciting new projects currently developing in the blockchain ecosystem. Its unique multichain verification capability has been turning heads. This upgrade means complex, decentralized services can run on these layer-2 networks – or “rollups” – while still enjoying the upgrade’s 1000x security of the Ethereum network. If you’ve been following along with the developments in the Web3 world, then this news is huge. It creates amazing new opportunities for inventing and growing decentralized applications. GreedyChain.com, home of the small greedy people, to explain what this all means, why it’s important and how it’s going to blow your mind.

The core idea behind EigenLayer's multichain verification is simple: it allows Actively Validated Services (AVS) to run not only on the Ethereum network but on layer-2 solutions. This is a big, long-awaited step towards making EigenCloud’s vision of scaling verifiable infrastructure possible across the entire blockchain ecosystem. This expansion allows Ethereum’s security to be shared with other networks. Now, they can and should take advantage of its strong underpinnings to work to their own advantage.

This new multichain capability is making its debut first on Base Sepolia, a test network that runs on the widely adopted Base layer-2 solution. We look to expand this functionality to other blockchains in the near future. Ideally, it’ll be on the mainnet by the end of Q3 in 2025. This phased approach provides the opportunity to test and refine the program carefully before a full-scale rollout, ensuring a smooth and secure transition.

Understanding EigenLayer's Approach

Restaking creates opportunities for users with ETH already staked. Now they can use their stakes to prove and protect even more networks or services. This collaborative process produces Actively Validated Services (AVSs) that bolster Ethereum’s scalability and functionality. EigenLayer expands the usefulness of staked assets by letting staked ETH be re-used. This tactic increases the security of the entire ecosystem as well.

How Restaking Works

  1. Users stake ETH on the Ethereum network.
  2. They then opt to "restake" their ETH through EigenLayer.
  3. The restaked ETH is used to provide security and validation services to AVSs.
  4. In return for their services, restakers earn additional rewards and protocol fees.

This approach creates a win-win situation. Stakers receive greater rewards, and AVSs get the benefit of a strong and decentralized security network. This is particularly beneficial for newer and smaller networks. Second, they frequently lack the resources or expertise to develop their own security infrastructure independently from the ground up.

Comparing EigenLayer to Other Scaling Solutions

There are many scaling solutions available, and it's important to understand how EigenLayer compares to the most popular approaches: zkEVMs and optimistic rollups. Every alternative has its peculiar advantages and drawbacks. Which one is the best fit will vary based on your application's or network's unique requirements.

zkEVMs (Zero-Knowledge Ethereum Virtual Machines)

zkEVMs leverage zero-knowledge proofs on Ethereum to ensure highly secure and private transactions. Then they group many of these transactions together and execute them in batches off-chain. Then, they finalize everything on the mainnet by generating a zero-knowledge proof to prove validity. This new approach provides powerful security guarantees and is able to dramatically improve transaction throughput. Unfortunately, zkEVMs are intricate to deploy and may be quite compute-intensive.

Optimistic Rollups

Optimistic rollups are another layer 2 solution that batch transactions off-chain and settle them on the Ethereum mainnet. Unlike the plans using zero-knowledge proofs, they use a fraud-proof mechanism. Once created, transactions are valid until proven otherwise. If a challenge is successful, we quickly reverse the fraudulent charge. Optimistic rollups are easier to develop than zkEVMs, but they need a longer challenge period, which can slow down finality.

EigenLayer's Unique Position

EigenLayer provides an exciting alternative by utilizing Ethereum’s existing security through an innovative mechanism called restaking. For one thing, AVS developers can easily tap into a huge pool of staked ETH. This allows them to procure their services without having to develop their own security architecture. EigenLayer offers greater flexibility and application-specific customization than zkEVMs and optimistic rollups. This enables developers to optimally target their solutions to all use cases.

Benefits for AVS Developers

EigenLayer's multichain verification feature offers several key benefits for AVS developers:

  • Security: AVS developers can leverage the security of Ethereum's trust network in a programmable manner, ensuring a robust and reliable foundation for their services.
  • Speed: EigenLayer enables fast finality, with solutions like AltLayer's MACH framework designed for rollups focused on achieving extreme transaction speeds and fast on-chain finality.
  • Modular Customizability: EigenLayer provides a cutting-edge and adaptable platform for the deployment of Actively Validated Services (AVSs) and related infrastructure, allowing developers to tailor their solutions to specific use cases.
  • Economically-Serviceable Design: EigenLayer's design enables AVS developers to create economically viable solutions, with features like restaking and slashing mechanisms to deter malicious behavior.
  • Pooled Security: EigenLayer's pooled security model allows AVS developers to benefit from a shared security framework, reducing the cost of security and increasing the overall security of the ecosystem.

Implications for Scaling Decentralized Infrastructure

EigenLayer's multichain verification feature has significant implications for scaling decentralized infrastructure:

  • Security vs. Throughput: EigenLayer's innovation aligns with broader industry efforts to enhance blockchain scalability, allowing developers to balance security and throughput.
  • Decentralized Services Scaling: EigenLayer's solution aims to redefine how decentralized services scale without compromising foundational principles.
  • Layer 2 Integration: EigenLayer's multichain verification feature enables Actively Validated Services (AVS) to operate on layer-2 networks while retaining Ethereum’s robust security framework.
  • Modular Architectures: EigenLayer provides a modular architecture that allows Ethereum to offload heavy computation and integrate external data without sacrificing the chain's core security guarantees.
  • Increased Staked ETH and Validator Participation: EigenLayer strengthens the underlying Ethereum network by increasing staked ETH and validator participation, fortifying its security while also interconnecting the serviceability of additional decentralized services to complement Ethereum's continued growth.

Actionable Insights for Developers

For developers looking to leverage EigenLayer's new multichain verification feature, here are a few actionable insights:

  1. Explore EigenLayer's Documentation: Familiarize yourself with the EigenLayer documentation to understand the technical details of restaking and AVS development.
  2. Experiment with Base Sepolia: Start experimenting with the multichain verification feature on the Base Sepolia testnet. This will allow you to test your AVS in a safe and controlled environment.
  3. Consider EigenDA: Explore the potential of EigenDA, EigenLayer's decentralized data availability layer, to reduce gas fees and increase bandwidth for your layer-2 applications.
  4. Evaluate the RaaS Marketplace: Investigate the Rollup-as-a-Service (RaaS) marketplace to simplify the deployment and management of your EigenLayer rollups.

EigenLayer’s multichain verification feature is the beginning of a new frontier in the battle to scale decentralized infrastructure. EigenLayer enables AVS developers to tap Ethereum security on layer-2 networks. This development is an important step toward fostering a more scalable, secure, and decentralized future. Stay tuned in this space, though, as EigenLayer is still in development and expanding its capabilities.