Eigen Labs has officially launched EigenCloud, a novel Ethereum restaking protocol, bolstered by a significant $70 million investment from venture capital firm a16z crypto. The investment was executed through the acquisition of EIGEN tokens.
Designed to enhance blockchain-level trust across both Web2 and Web3 platforms, EigenCloud aims to create diversified revenue streams for participants providing staking incentives. This initiative seeks to improve overall blockchain scalability and security.
The protocol’s Alpha launch phase includes performance upgrades to EigenDA, its data availability layer. These upgrades target a throughput of 50 megabytes per second on the Ethereum testnet, aiming to significantly enhance data availability and network scalability capabilities.