Google Cloud, Coinbase join EigenLayer as operators
Quick Take
- Coinbase and Google Cloud’s cloud divisions have joined EigenLayer as operators after its mainnet launch.
- Several other firms including Deutsche Telekom MMS, P2P, Nethermind, Figment, Swell and Kiln have also become EigenLayer operators.
The cloud divisions at Coinbase and Google, among several other firms, have joined EigenLayer as operators shortly after the mainnet went live.
"Coinbase Cloud is proud to be among the protocol’s first Operators, ready to serve as a trusted partner for your restaked ETH or LSTs," the firm noted.
Meanwhile, Sam Padilla, a product manager at Google Cloud, stated that his team had been involved in Eigen’s testnet since November and has now implemented an operator node on the mainnet.
This is not the first time Google Cloud has participated in running a node for a blockchain project. It already provides web3 infrastructure services, such as node hosting and the management of validator operations, for various blockchains on its platform, notably Ethereum, Solana, and Aptos.
Other firms joining EigenLayer as operators include Deutsche Telekom MMS, HashKey Cloud, P2P, Nethermind, Figment, Everstake, Kiln and AltLayer.
Launch of EigenLayer mainnet
This development follows the mainnet rollout of EigenLayer and its data availability layer EigenDA yesterday. The launch enables restakers to delegate their stake to their preferred operator and allows operators to decide whether to run an actively validated service on EigenLayer.
By participating in the EigenLayer protocol, operators provide services to other applications and process their transactions in exchange for rewards. This additional security layer is derived from the already staked ETH on the Ethereum network. For example, operators of the data availability solution will enable Layer 2 scaling solutions — to incorporate it for their scaling needs.
EigenLayer operators allow Ethereum stakers to delegate their staked assets, whether native ETH or derivative tokens, to establish a shared security model. This delegation also enables stakers to engage in multiple blockchain applications while their ETH remains staked on the Ethereum network.
However, operators are not currently validating any services. EigenLayer stated that it is allowing the operator and AVS marketplace to develop and stabilize before introducing in-protocol payments and slashing to the mainnet later this year.
The total value locked in EigenLayer now exceeds $15 billion, according to The Block's data dashboard.
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