EigenLayer has launched a brand new platform known as EigenCloud, designed to carry verifiability and transparency to each blockchain-native and conventional purposes.
The launch, introduced on June 17 in an announcement shared with CryptoSlate, introduces a unified system that leverages the ability of EigenLayer’s ecosystem, together with its native EIGEN token.
Eigen Labs CEO Sreeram Kannan acknowledged that EigenCloud represents a leap ahead in blockchain programmability as a result of it makes “nearly something verifiable on-chain.”
He added:
“EigenCloud will allow the following era of disruptive, mass-market crypto apps, closing the hole between what builders wish to construct onchain and what blockchains permit them to construct…It opens up the chance for builders to construct extremely formidable merchandise like disintermediated digital marketplaces, onchain insurance coverage, totally onchain video games, automated adjudication, highly effective prediction markets, and verifiable AI.”
Nevertheless, entry to the platform is initially restricted to a specific group of builders, with broader availability anticipated later within the yr.
EigenCloud
Based on the assertion, the platform’s core innovation lies in remodeling verifiability right into a programmable service layer.
It permits builders to create purposes that may show what occurred, why it occurred, and make sure its accuracy, no matter whether or not the information is on-chain or off-chain.
To realize this objective, EigenCloud merges all current third-party Autonomous Verifiable Providers (AVSs) with in-house developer primitives like EigenDA (for knowledge availability), EigenVerify (for dispute decision), and EigenCompute (for computation).
In the meantime, one in all EigenCloud’s standout options is its potential to supply verifiable computation for off-chain processes, just like what Layer 1 chains provide on-chain. This permits builders to construct purposes that depend on exterior knowledge or computation with out compromising integrity.
As well as, the system can be designed with incentives in thoughts. EIGEN token holders can stake their property to assist safe purposes and earn rewards for platform exercise. This mannequin creates a direct hyperlink between protocol participation and real-time utility.
Andreessen Horowitz acquires $70 million EIGEN token
Enterprise capital agency Andreessen Horowitz (a16z) has invested a further $70 million in EIGEN tokens to help the rollout of EigenCloud and the broader EigenLayer ecosystem. This follows its $100 million Collection B funding in Eigen Labs in 2024.
The added capital will assist speed up developer adoption and scale the platform’s crypto financial incentives, significantly for EIGEN stakers, who can now earn yield by securing decentralized purposes.
Ali Yahya, normal accomplice at a16z crypto, stated the agency sees EigenLayer as an answer to blockchain’s long-standing limitations. He stated:
“EigenLayer is surmounting the technical bottlenecks of blockchains to allow a brand new class of purposes constructed on verifiable options.”
Nevertheless, regardless of the rising institutional curiosity, the EIGEN token is experiencing a worth dip.
Based on CryptoSlate’s knowledge, the digital asset has dropped over 11% previously 24 hours and practically 30% previously month. As of writing, EIGEN trades at roughly $1.15, down greater than 80% from its December 2024 peak of $5.65.
