Opinion: Alon Much, founder of SSV Labs

Although Ethereum remains a leader in terms of total blocked value (TVL), things do not look great. The network activity is hemorrhage and the shoots will slip. Ethereum was closed in the fight for his future. Without significant changes, Ethereum risks inaccessible to builders and users who must develop. Ethereum needs fresh ideas to strengthen the ecosystem from the breakdown, unite it and really support innovations.

Enter the applications based on the back (BAPPS), which are any application or service using the Ethereum validators set for security. Inspired by a based movement, BAPPS enables any distribution project directly from the Ethereum layer (L1), enabling interoperable, scalable and profitable development.

High rates and high costs

The last decrease in network activity emphasizes the deep problem in Ethereum and comes down to UX. Blockchain scaling race does not apply to TVL and transactions per second (TPS). It is about the experience of users and programmers who co -create the ecosystem. The ease of development and interoperable ecosystems and programmers’ applications are the most essential. Improvement of programmers’ experience is crucial for improving the user’s experience, which drives adoption.

Today, builders have two options. The first and more popular is the restoration, which has become a default mechanism for recent services, blocking the payment keys of validation or gigantic amounts of capital for security. This leaves bands with only one uncomfortable alternative: alone. Building a set of validators from scratch is massive, technically convoluted and often starts with centralized. Both elections limit the builder and do not solve problems with the fragmentation that we see today in Ethereum.

Not only builders, but validators have an impact of this system. In the current configuration of restoration, Walidacze who want to gain more performance, supporting recent services, must rest, block their withdrawal keys and take an additional risk. By releasing the withdrawal keys to secure the application with the Slashable capital, the validatists are exposed to cascade risk, which on a scale can affect the Ethereum itself – the basic departure from the Ethereum founding vision.

BAPPS are safer

BAPPS provides a third, more available option for self -throwing and restoring. The employ of safety -based security infrastructure drastically reduces the entry barriers for any size protocol for a protected and sustainable purpose, while maintaining the time-honored network effects of Ethereum. Walidacists are encouraged to join through the possibilities of risk -free profitability; Developers can access safety for construction; Users employ a uniform and interoperable ecosystem.

Last: SSV network for creating “based” application infrastructure for Ethereum

Critical services of missions, such as plugins, bridges and oracles, do not have to come up with wheels. They simply connect to the existing, trusted security model. Using the Ethereum validators as a basic safety base, each service except the protocol can inherit the decentralization of Ethereum L1 and Sybil resistance. It is also possible to expand this paradigm outside Ethereum, enabling other L1 validators to secure BAPP. This potentially turns BAPPS into a multi -scholar safety market, dramatically reducing the complexity (and cost) for programmers and raising the bar for the entire ecosystem, offering a “based” path forward.

BAPPS allows validations to earn more thanks to the existing share. Using mainly the system as unnecessary security, the guiders can opt for many services through their existing role of Ethereum Validator without the need for success or providing additional rates. This would encourage walidators, especially from smaller or more operators, reluctance to risk, which is excellent, taking into account Solo Stakers are an essential ecosystem pillar.

BAPPS unlocks scalability

BAPPS will also revolutionize the current Bootstrapping Ethereum ecosystem, which is largely based on the captain for cutting. When restoring, strengthening one participant may directly correspond to the loss of another person, creating a zero-sum model. Building competitive dynamics in which participants must add or realize resources instead of dividing them, as a consequence working with recent participants, creating a competition with confined attention and resources.

And vice versa, the based economy promotes an infinite game, transforming competition by resources into a synergistic environment in which recent applications, services and participants boost the overall value of the platform. Each recent validator increases BAPP safety, and each recent BAPP provides recent validations. This infinitely scalable model is released from the limitations of the zero sum of the sum, enabling trouble -free ecosystems, rewarding innovations and building more protected, integration and resistant ecosystems.

Unification of the broken ecosystem Ethereum

In order for Ethereum to develop, fragmentation should be solved. Builders need components that must be protected, inexpensive, interoperable and scalable. Think about what the cloud processing for Web2 did. BAPPS offer this-input of an infinite game, unlock scalability and ensure a protected and inexpensive way to bootstrap thanks to the eTHEREUM rate networks.

If Ethereum is to be the foundation of the decentralized world of tomorrow, it must strengthen today’s builders. Returning is to solve the problem of the experience of user and Ethereum programmers with based infrastructure. A clear solution is based on this.

Opinion: Alon Much, founder of SSV Labs.

This article is used for general information purposes and should not be and should not be treated as legal or investment advice. The views, thoughts and opinions expressed here are themselves and do not necessarily reflect or represent the views and opinions of Cointelegraph.