Ankr Adopts ssv. network’s Distributed Validator Technology

Summary:
• Ankr Network is collaborating with ssv.network that will see Ankr integrate ssv.network's validator technology. We discuss what this means.

Ankr, the multi-chain infrastructure platform, has partnered with ssv.network, a distributed validator technology (DVT) provider. Together, ssv.network and Ankr will increase risk management and validator performance by integrating the latest developments in distributed validator technology. And the partnership will do it in a trustless fashion across all nodes, fostering decentralization across the Astar network.

Ankr’s adoption of distributed validator technology and staking targets

The subsequent iteration of liquid staking protocols will likely result from the combination of ssv.network’s distributed validator technology model and Ankr’s liquid staking infrastructure. Ankr and ssv.network are working together to improve the worldwide accessibility, security, and decentralization of liquid staking for both stakers and node managers. This will likely attract a significant number of users to the Ankr network. 

Combining Ankr’s flexible backend with distributed validator technologies should make running nodes of any size easier. In addition, this will help the company by lowering its financial, technical, and risk profile. In addition, the anticipated launch of ssv.network will contribute to Ankr’s expanding community of third-party node operators. This, will enhance the financial security of anyone holding liquid staked derivatives from Ankr.

The collaboration is timely, given there has been a rise in demand for liquid staking options in recent times. Presently, staking generates $9 billion in revenue for the cryptocurrency industry, but after Ethereum’s hard fork, that number is expected to soar to $20 billion. Ankr intends to scale along with the demand for staking by offering staking rewards to an unlimited number of new users.

Together with ssv.network, Ankr will keep growing its operator and validator base over the next few months. The network’s goal is a smooth and efficient incorporation into the protocol’s decentralized network of node operators. The network will undergo further stress testing, stability checks, and experiments with potential staking and delegation incentives.