Originally published on: November 15, 2024
Consensys, a leader in Ethereum validator node provider, Infura, has taken a big step forward in revolutionizing Web3 infrastructure. They recently announced the launch of their Decentralized Infrastructure Network (DIN) as an Actively Validated Service (AVS) on EigenLayer, an Ethereum restaking platform.
The head of product for Infura DIN, Tom Hay, unveiled this exciting development at Devcon2024 in Bangkok on Nov. 14. By utilizing Ethereum’s economic security through EigenLayer, DIN is paving the way for a Web3 permissionless marketplace for infrastructure services.
DIN acts as a decentralized Web3 API marketplace, offering developers access to Ethereum and other top blockchains like Blast, Mantle, Starknet, ZKsync, BNB Smart Chain, and Scroll. Launching DIN as an AVS on EigenLayer brings numerous benefits such as cost savings, enhanced accessibility and reliability of Web3 services, fostering collaboration among providers, and simplifying the introduction of new services through Web3 gateways.
EigenLayer founder, Sreeram Kannan, highlighted that establishing DIN as an EigenLayer AVS encourages permissionless infrastructure provision, resulting in a scalable marketplace with increased reliability and reduced costs.
As an Ethereum restaking protocol, EigenLayer offers additional rewards for staked Ether (ETH) by providing custom validation mechanisms for off-chain operations. The goal of this deployment is to create a more accessible, reliable, and efficient decentralized infrastructure for Web3 development while leveraging Ethereum’s economic security.
EigenLayer has experience explosive growth in 2024, with the total value locked on the restaking protocol soaring to $13.4 billion, a 900% surge since the beginning of the year, according to DefiLlama. Despite a decline from its peak of $20 billion in early June, the recent uptick in TVL coincides with the rise in ETH prices over the past week.
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