EigenDA Cuts Prices and Launches Free Tier for Ethereum Data Storage

Last updated: August 20, 2024 3:32 PM

Published 2024-08-20

EigenDA, a data availability protocol developed by EigenLayer, has announced a reducing its services cost price by 10x along with a new free tier.

This price drop, announced in an Aug. 19 blog post is part of EigenDA’s strategy to attract more users by making its service more cost-effective and scalable.

EigenDA’s network is secured by 3.6 million ETH that has been restaked by more than 133,000 Ethereum stakers.

According to DefiLlama, EigenLayer, the platform hosting EigenDA, currently holds over $12 billion in total value locked (TVL) and supports various other services like eOracle and Lagrange State Committees, which together are backed by another 2 million ETH.

Moreover, EigenDA was the first and remains the largest actively validated service (AVS) on EigenLayer. The protocol aims to increase data availability on Ethereum by 1,000x, which could enable more advanced blockchain applications like decentralized order books, real-time gaming, and AI-driven social networks. By significantly cutting costs, EigenDA hopes to unlock new possibilities for these on-chain data services.

Also Read: Ethereum Price Faces Volatility as Whales Offload $60M ETH

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

Follow The Crypto Times on Google News to Stay Updated!