EigenLayer’s EigenDA is cut 10x in data values
EigenDA, EigenLayer's data availability protocol, has reduced the price of the service by 10x and introduced a ‘free tier', in an August 19 EigenLayer blog post.
EigenDA is a “data access layer” running on top of EigenLayer's Ether (ETH) recovery platform designed to reduce the costs of storing and accessing onchain data for Ethereum Layer-2 measurement chains. The price cut comes as EigenDA pushes to onboard more layer-2s to its platform, which it launched in April.
EigenDA's mission is to “make reliable, scalable and secure data access (‘DA') abundant,” he explained in a blog post. “To achieve this goal and enabled by the scalability of its design, EigenDA strives to be the most cost-effective DA solution.”
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Rescheduling involves using previously held staked Ether – escrow with a validator in exchange for a reward – on the Ethereum network and using other protocols to secure it at the same time. EigenLayer currently commands more than $12 billion in total value locked (TVL), according to Defillama.
EigenDA is the first “Actively Authenticated Service” (AVS) launched on EigenLayer and is the largest. It is secured by about 3.6 million reposited ETH contributed by more than 133,000 stakeholders, according to EigenLayer's website.
EigenLayer now hosts more than a dozen such services, including eOracle and Lagrange State Committees, both of which have more than 2 million ETH in reserve — worth more than $5 billion at the current spot price.
EigenDA says it aims to increase data access on Ethereum by 1,000x and thus enable onchain use cases; That includes fully onchain order books, real-time gaming, social networking, decentralized artificial intelligence (AI) and more, according to an April 9 blog post. .
The data availability protocol “is integrated with the long-term vision of EigenLayer: to punish bad behavior, the protocol must have access to the data associated with related transactions,” he wrote.
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