What Is EigenLayer? How To Restake Ethereum And Get Rewards
2024 is predicted to be a significant year for EigenLayer with the groundbreaking narrative of Ethereum restaking. Restaking refers to a process in which Ethereum (ETH) tokens deposited to the secure blockchain networks, known as staking, can be repurposed to secure additional blockchains and protocols. This enhances their utility and provides holders with a set of additional rewards. What is EigenLayer? Eigen Layer is a protocol built on the Ethereum network introducing restaking of staked ETH coins, a concept of rehypothecating an asset previously staked in the crypto-economy. Restaking enables the rehypothecation of ETH on the consensus layer. Through EigenLayer smart contracts, users who stake ETH can restake their ETH, extending crypto-economic security to additional applications on the network. As middleware, the protocol strengthens Ethereum's presence as a foundational blockchain and aims to connect ecosystem services and DApps. EigenLayer's founder, Sreeram Kannan, env