A16z backs EigenLayer’s EigenCloud launch with $70M
The post A16z backs EigenLayer’s EigenCloud launch with $70M appeared on BitcoinEthereumNews.com. EigenLayer has introduced a new platform called EigenCloud, designed to bring verifiability and transparency to both blockchain-native and traditional applications. The launch, announced on June 17 in a statement shared with CryptoSlate, introduces a unified system that leverages the power of EigenLayer’s ecosystem, including its native EIGEN token. Eigen Labs CEO Sreeram Kannan stated that EigenCloud represents a leap forward in blockchain programmability because it makes “virtually anything verifiable on-chain.” He added: “EigenCloud will enable the next generation of disruptive, mass-market crypto apps, closing the gap between what developers want to build onchain and what blockchains allow them to build…It opens up the opportunity for developers to build highly ambitious products like disintermediated digital marketplaces, onchain insurance, fully onchain games, automated adjudication, powerful prediction markets, and verifiable AI.” However, access to the platform is initially limited to a selected group of developers, with broader availability expected later in the year. EigenCloud According to the statement, the platform’s core innovation lies in transforming verifiability into a programmable service layer. It allows developers to create applications that can prove what occurred, why it happened, and confirm its accuracy, regardless of whether the data is on-chain or off-chain. To achieve this goal, EigenCloud merges all existing third-party Autonomous Verifiable Services (AVSs) with in-house developer primitives like EigenDA (for data availability), EigenVerify (for dispute resolution), and EigenCompute (for computation). Meanwhile, one of EigenCloud’s standout features is its ability to offer verifiable computation for off-chain processes, similar to what Layer 1 chains offer on-chain. This allows developers to build applications that rely on external data or computation without compromising integrity. In addition, the system is also designed with incentives in mind. EIGEN token holders can stake their assets to help secure applications and earn rewards for platform activity. This model creates a direct link between…
The post A16z backs EigenLayer’s EigenCloud launch with $70M appeared on BitcoinEthereumNews.com.
EigenLayer has introduced a new platform called EigenCloud, designed to bring verifiability and transparency to both blockchain-native and traditional applications. The launch, announced on June 17 in a statement shared with CryptoSlate, introduces a unified system that leverages the power of EigenLayer’s ecosystem, including its native EIGEN token. Eigen Labs CEO Sreeram Kannan stated that EigenCloud represents a leap forward in blockchain programmability because it makes “virtually anything verifiable on-chain.” He added: “EigenCloud will enable the next generation of disruptive, mass-market crypto apps, closing the gap between what developers want to build onchain and what blockchains allow them to build…It opens up the opportunity for developers to build highly ambitious products like disintermediated digital marketplaces, onchain insurance, fully onchain games, automated adjudication, powerful prediction markets, and verifiable AI.” However, access to the platform is initially limited to a selected group of developers, with broader availability expected later in the year. EigenCloud According to the statement, the platform’s core innovation lies in transforming verifiability into a programmable service layer. It allows developers to create applications that can prove what occurred, why it happened, and confirm its accuracy, regardless of whether the data is on-chain or off-chain. To achieve this goal, EigenCloud merges all existing third-party Autonomous Verifiable Services (AVSs) with in-house developer primitives like EigenDA (for data availability), EigenVerify (for dispute resolution), and EigenCompute (for computation). Meanwhile, one of EigenCloud’s standout features is its ability to offer verifiable computation for off-chain processes, similar to what Layer 1 chains offer on-chain. This allows developers to build applications that rely on external data or computation without compromising integrity. In addition, the system is also designed with incentives in mind. EIGEN token holders can stake their assets to help secure applications and earn rewards for platform activity. This model creates a direct link between…
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