Infura launches as AVS on EigenLayer to boost Web3 access
ConsenSys' decentralised Ethereum (CRYPTO:ETH) node provider, Infura, has announced significant progress in its Decentralised Infrastructure Network (DIN).
At Devcon 2024 in Bangkok, Infura revealed that it will launch as an Actively Validated Service (AVS) on Ethereum's restaking platform, EigenLayer (CRYPTO:EIGEN).
"By leaning on Ethereum’s economic security through EigenLayer, we continue to build on DIN’s steady progress creating a Web3 permissionless marketplace for infrastructure services," stated Tom Hay, head of product for Infura's Decentralised Infrastructure Network (DIN).
DIN operates as a decentralised Web3 API marketplace, functioning as a blockchain infrastructure "app store" that connects developers to various blockchains, including Ethereum, Blast, Mantle, and others.
Launching as an AVS through EigenLayer brings multiple advantages: reducing development costs, enhancing accessibility and service reliability, fostering cooperation among service providers, and simplifying the deployment of new services.
"Building DIN as an EigenLayer AVS enables permissionless infrastructure provision, thus scaling the marketplace while simultaneously increasing reliability and reducing costs," noted Sreeram Kannan, founder of EigenLayer.
An AVS on EigenLayer provides custom validation mechanisms for off-chain operations and benefits from Ethereum’s economic security.
EigenLayer’s restaking protocol allows staked Ether to earn additional rewards, supporting secure, decentralised services.
This deployment aims to make decentralised infrastructure for Web3 development more accessible and efficient while avoiding the premature launch of project tokens.
Staking on EigenLayer also offers slashing protection as part of its onboarding process.
EigenLayer has seen substantial growth in 2024, with total value locked (TVL) rising 900% to reach $13.4 billion, as per DefiLlama.
Although it peaked at $20 billion in June, recent ETH price increases have spurred an uptick in TVL, indicating renewed interest in the platform.
At the time of reporting, the Eigenlayer (EIGEN) price was $2.34.
