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HashQuark Receives Grant from SSV DAO to Develop Liquid Staking Solution for Institutions

source-logo  blockchainreporter.net 22 May 2023 12:34, UTC

HashQuark, a prominent entity offering Web3-related infrastructure services, has announced that the SSV DAO has offered it a grant. The purpose of the respective grant is to develop a PoS-based liquid-staking solution for the institutions. The collaboration indicates the mutual dedication of both parties to advance security and decentralization in the staking ecosystem of Ethereum.

SSV DAO Offers a Grant to HashQuark for Liquid Staking Solution to Facilitate Institutional Clients

In addition to this, HashQuark stated that the respective collaboration is focused on the establishment of a network devoted to supporting the staking’s future. The renowned expertise of HashQuark in offering effective, stable, and secure services for node validation is in line with the ss.network’s vision. With this partnership, both collaborators will be capable of getting benefit from each other’s strengths.

In this way, they can mutually establish an ecosystem having resilience, innovation, as well as the ability to deal with the evolving requirements of stakers. HashQuark has gained considerable benefits with its partnership with the ssv.network. This collaboration enables HashQuark to access a wider audience along with making remarkable contributions to the SSV ecosystem’s further growth.

Secret Shared Validator (SSV) is known as a technology that offers an exclusive solution enabling the distribution function of a validator on Ethereum. It does this through encryption, division, as well as the distribution of the validator key. By doing this, SSV guarantees that no sole operator controls the validator. This permits the network to keep on operating robustly and securely even if a few operators go offline.

This exclusive protocol pays great attention to decentralization, zero-coordination, customization, and fault tolerance. It is considered to be the best option for individuals and businesses to enter Ethereum staking with no worries about complications related to infrastructure. With the help of the ssv.network, the validators remain distributed and secured in addition to delivering optimal performance.

HashQuark Says the Partnership Will Result in a Resilient and More Exclusive Ecosystem Assisting SSV Network

HashQuark added that the collaboration between the two platforms will witness an innovative ecosystem for ssv.network. This will potentially let them take part in the SSV DAO’s ongoing success. The layer0-based staking infrastructure SSV Network uses Distributed Validator Technology (DVT) which is also known as Secret Shared Validators (SSV). With this, it splits and operates validators on Ethereum between many non-trusting and customizable nodes.