Holonym Foundation Partners With This Ethereum Protocol To Boost Restaking By $677 Million

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As a researcher with years of experience delving into the intricacies of blockchain technology and digital identity solutions, I am thoroughly excited about the recent partnership between Holonym Foundation and Kelp DAO. This collaboration not only underscores the growing trust and recognition of Holonym’s infrastructure but also signifies a significant step towards enhancing the security and efficiency of public blockchain networks.

The Holonym Foundation has teamed up with Kelp DAO, a re-staking protocol established on Ethereum‘s EigenLayer, in an effort to enhance the security of the Mishti Network and further develop digital identity solutions using blockchain technology.

Ethereum Protocol Kelp DAO Joins Holonym To Restake $670 Million ETH

The Holonym Foundation has revealed a new partnership with the Kelp DAO of Liquid Restaking Protocol, which operates on Ethereum’s EigenLayer. This collaboration will help strengthen the Holonym Foundation’s Mishti Network. Established by Amitej G and Dheeraj B, the protocol aims to develop liquid restaking solutions for various public blockchain networks.

Kelp Decentralized Autonomous Organization (DAO) is developing a Liquid Restaking Token, rsETH, designed to provide liquidity for assets deposited in staking platforms that are currently illiquid, such as EigenLayer. The objective of this protocol is to tackle the risks and difficulties associated with the existing restaking services.

According to the recent announcement, the new partnership has led to a significant increase of approximately 677.27 million dollars worth of Ethereum being re-staked on the Mishti Network. This addition now brings the total amount of re-staked ETH on the network up to a staggering 1.4 billion dollars.

The move follows the Holonym’s collaboration with another Ethereum liquid restaking protocol, Renzo Protocol, to strengthen the Mishti Network’s security with $800 million restaked ezETH.

Recently, our collaboration was focused on enhancing the accessibility of our digital identity solution, Human Keys, by leveraging Ethereum and EigenLayer’s infrastructure along with their node operators. This partnership is instrumental in enabling Mitshti Network to create secure instances of Human Keys effectively.

Holonym emphasized the latest surge in re-staked Ether, pointing out that this progress demonstrates the company’s ongoing growth and strides towards achieving its objective of creating secure solutions.

This tactic underscores the rising faith and acknowledgment of Holonomy’s infrastructure, demonstrating their dedication to improving the dependability and productivity of blockchain technology. The significant surge in re-staked ETH indicates the high level of trust that leading protocols have in Holonomy’s secure and scalable solutions.

Digital Identity Solutions Continue Expanding

The Holonym Foundation concentrates on crafting Digital Identity Solutions. Their goal is to provide a decentralized approach where individuals can generate, restore, and control their own secure digital keys, ensuring privacy and eliminating the need for a central authority.

As per the recent declaration, governments are now acknowledging these methods and have begun to improve their digital identity management procedures, often referred to as “implementing more effective systems.” The cryptocurrency sector is presenting “real-world scenarios” where the broader public can benefit, or in simpler terms, “find practical applications.

As a result, Holonym Foundation constructed their system so that people across the globe can generate Human Keys through Mishti Network, with the goal of simplifying the crypto wallet process. Furthermore, the company strives to make its digital identity solution approachable for both new users and experienced blockchain users by emphasizing ease of use for all.

As an analyst, I advocate for a zero-trust approach to security within the decentralized network, ensuring my personal data remains confidential. Additionally, I strive to implement universal, cross-device accounts fortified by zero-knowledge technology and Ethereum’s robust security, all without relying on external third-party applications.

Shady El Damaty, co-founder of Holonym Foundation, highlighted that traditional human-centric authentication methods such as passwords, security questions, accounts, and facial recognition can be decentralized without relying on intermediaries like Apple or Google. This shift opens up possibilities for new applications that were previously unattainable.

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2024-11-22 17:57