{"id":5192,"date":"2024-11-22T16:38:27","date_gmt":"2024-11-22T15:38:27","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=5192"},"modified":"2024-11-22T16:38:27","modified_gmt":"2024-11-22T15:38:27","slug":"ethereum-protocol-partners-with-holonym-to-enhance-restaking-by-670-million","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2024\/11\/22\/ethereum-protocol-partners-with-holonym-to-enhance-restaking-by-670-million\/","title":{"rendered":"Ethereum Protocol Partners with Holonym to Enhance Restaking by $670 Million"},"content":{"rendered":"<p><\/p>\n<div>\n<p style=\"font-weight: 400\">Holonym Foundation has teamed up with Kelp DAO, a Liquid Restaking Protocol established on Ethereum\u2019s EigenLayer, to enhance the security of the Mishti Network and continue delivering digital identity solutions for the application of blockchain technology.<\/p>\n<h2 style=\"font-weight: 400\">Ethereum Protocol Kelp DAO Collaborates with Holonym To Restake $670 Million ETH<\/h2>\n<p style=\"font-weight: 400\">The Holonym Foundation <a href=\"https:\/\/holonym.id\/\" target=\"_blank\" rel=\"noopener nofollow\">revealed<\/a> its recent partnership with Liquid Restaking Protocol Kelp DAO, developed on Ethereum\u2019s EigenLayer, to further enhance the security of its Mishti Network. Founded by Amitej G and Dheeraj B, the protocol is dedicated to creating Liquid Restaking Solutions for public blockchain networks.<\/p>\n<p style=\"font-weight: 400\">Kelp DAO is in the process of creating a Liquid Restaking Token (LTR), rsETH, designed to \u201cprovide liquidity to illiquid assets deposited into restaking platforms\u201d such as EigenLayer. The protocol seeks to tackle the \u201crisks and challenges associated with the current offerings of restaking.\u201d<\/p>\n<p style=\"font-weight: 400\">According to the announcement, the collaboration has resulted in a surge of $677.27 million in restaked Ethereum on the Mishti Network, elevating the chain\u2019s total restaked ETH to $1.4 billion.<\/p>\n<p style=\"font-weight: 400\">This initiative follows Holonym\u2019s <a href=\"https:\/\/bitcoinist.com\/ethereum-liquid-restaking-protocol-joins-holonym-foundation-to-enhance-human-keys-security\/\" target=\"_blank\" rel=\"noopener \">alliance<\/a> with another Ethereum liquid restaking protocol, Renzo Protocol, to boost the Mishti Network\u2019s security with $800 million restaked ezETH.<\/p>\n<p style=\"font-weight: 400\">The partnership from last month aimed to enhance accessibility to the company\u2019s digital identity solutions, Human Keys, by utilizing Ethereum and EigenLayer\u2019s infrastructure and node operators to aid the secure development of Human Keys on the Mishti Network.<\/p>\n<p style=\"font-weight: 400\">Holonym emphasized the recent growth in restaked ETH, showcasing the organization\u2019s expansion and progress toward its aim of creating secure solutions:<\/p>\n<blockquote>\n<p style=\"font-weight: 400\">This strategic decision underscores the mounting trust and acknowledgement of Holonym\u2019s infrastructure and their dedication to improving blockchain reliability and efficiency. The considerable rise in restaked ETH reflects the confidence that leading protocols have in Holonym\u2019s secure and scalable offerings.<\/p>\n<\/blockquote>\n<h2 style=\"font-weight: 400\">Digital Identity Solutions Continue to Develop<\/h2>\n<p style=\"font-weight: 400\">With a focus on Digital Identity Solutions, the Holonym Foundation strives to provide a decentralized method for the creation, recovery, and management of secure cryptographic keys that do not depend on a central authority, ensuring the safety of users\u2019 data.<\/p>\n<p style=\"font-weight: 400\">As reported in the announcement, <a href=\"https:\/\/bitcoinist.com\/cardano-founder-argentina-president-milei\/\" target=\"_blank\" rel=\"noopener \">governments<\/a> have begun to acknowledge these solutions and \u201cimplement better practices for digital identity management,\u201d as the crypto sector provides \u201creal-world applications that the general public can utilize.\u201d<\/p>\n<p style=\"font-weight: 400\">As a result, Holonym Foundation has crafted its infrastructure to enable users globally to generate Human Keys via its Mishti Network, with the intent to \u201csimplify the crypto wallet experience.\u201d The organization also aims to make its digital identity solution attainable for both newcomers and experienced blockchain users by \u201cprioritizing ease of use for all.\u201d<\/p>\n<p style=\"font-weight: 400\">For this purpose, the keys are designed with zero trust security within the decentralized network, ensuring users\u2019 personal information is not <a href=\"https:\/\/bitcoinist.com\/social-media-breach-hits-giggle-academy-binance-founder-reacts\/\" target=\"_blank\" rel=\"noopener \">compromised<\/a>. Furthermore, they aim to facilitate universal, cross-device accounts secured by zero-knowledge technology and Ethereum\u2019s safety without the requirement for third-party applications.<\/p>\n<p style=\"font-weight: 400\">As Shady El Damaty, co-founder of the Holonym Foundation, highlighted, \u201cAll standard human-centric authentication methods like passwords, security questions, accounts, and faceID can be decentralized without reliance on any third party like Apple or Google (\u2026) This opens the door for new applications that were previously unattainable.\u201d<\/p>\n<\/p>\n<pre style=\"text-align: center\">Ethereum (ETH) is trading at $3,322 in the three-day chart. Source: ETHUSDT on <a href=\"https:\/\/www.tradingview.com\/x\/WQNEjsQa\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<p>Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/bitcoinist.com\/holonym-partners-with-ethereum-liquid-restaking\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Holonym Foundation has teamed up with Kelp DAO, a Liquid Restaking Protocol established on Ethereum\u2019s EigenLayer, to enhance the security of the Mishti Network and continue delivering digital identity solutions for the application of blockchain technology. Ethereum Protocol Kelp DAO Collaborates with Holonym To Restake $670 Million ETH The Holonym Foundation revealed its recent partnership<\/p>\n","protected":false},"author":3,"featured_media":5193,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[111],"class_list":{"0":"post-5192","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-return-a-list-of-comma-separated-tags-from-this-title-ethereum-protocol-joins-holonym-to-boost-restaking-by-670m"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Protocol Partners with Holonym to Enhance Restaking by $670 Million - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2024\/11\/22\/ethereum-protocol-partners-with-holonym-to-enhance-restaking-by-670-million\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Protocol Partners with Holonym to Enhance Restaking by $670 Million - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"Holonym Foundation has teamed up with Kelp DAO, a Liquid Restaking Protocol established on Ethereum\u2019s EigenLayer, to enhance the security of the Mishti Network and continue delivering digital identity solutions for the application of blockchain technology. 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