Obol is a blockchain company focused on distributed validators, with Announce February 22, 2023 milestone. Specifically, they will launch the world’s first distributed validator (DV) on the Ethereum mainnet. This marks an important step forward in the development of a more secure, flexible and decentralized Ethereum staking network. This is very important for validators and stakers.
The DV, called dv494484.eth, consists of nodes running entirely at home in Ireland, Estonia, and Canada. The purest form of identity verification was tested for nine months on two testnets, Athena and Beer, before launching on the Ethereum mainnet. DV performed well, with a total of 10,860 successful endorsements, with an average efficiency of 98.6%.
DV Efficiency Ratio | Source: Rated
One of the most notable features of the validator is the competitive average inclusion distance of 1,009, which is lower than the network average of 1,021. This is an important aspect of DV’s design, as it ensures that validators work with masternodes around the world.
Obol worked on the project for three years, two years in development and nine months in testing. The successful launch of the world’s first DV marks the beginning of a new chapter in Ethereum Staking, a chapter that is safer, more flexible, and more decentralized.
@Obol Network Obol Launches the World’s First Mainnet Ethereum Distributed Validator @azcoinnews https://t.co/R6X8iJby2o
— Kyptos (@azcoinnews) February 23, 2023
Over the next few weeks, Obol plans to roll out DVT in close cooperation with all types of validators, taking a phased approach to ensure resiliency, decentralization, security, anti-correlation, and performance. The company also invites interested individuals to join the Obol core team, beer testnet, contribute to the ambassador program or train themselves on DVT.
Launching the world’s first distributed validator for the Ethereum mainnet is an important achievement for Obol and the Ethereum staking community. The successful performance of this validator provides a glimpse into the potential for improving the performance, resiliency, and security of Ethereum validators. Expect more important updates and community calls as Obol continues to move towards the Obol V1 milestone. Validators and stakers can look forward to a more secure and decentralized Ethereum staking network in the future.
According to a recent report, Obol raised $12.5 million in a Series A round on January 17. The funding was co-led by Pantera Capital and Archetype, with significant participation from Coinbase Ventures, Nascent, BlockTower, Placeholder, Ethereal Ventures, Spartan, and IEX. The round also included direct participation from well-known validators such as Stakely, Cosmostation, Kukis Global, Swiss Staking, Swift Staking, a41, Blockscape, and DSRV. The funds raised will be used to accelerate the development of Ethereum’s distributed verification technology, expand the core team, and explore scaling solutions for future ecosystems such as L2 Ethereum and Cosmos. With the successful close of this funding round, Obol’s total funding to date is $19 million.
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Ming Ying
according to Kyptos
