What is Obol Network? Obol Network is an infrastructure solution that helps solve the problem of security and especially decentralization on Ethereum. So what is so special about Obol Network that makes Lido Finance “so drunk”, everyone will find out with me in the article below.
To better understand Obol Network, people can refer to some of the articles below:
- What is Distributed Validator Technology (DVT)? Overview of New Ethereum Technology
- What is Lido Finance (LDO)? Overview of Lido Finance Cryptocurrency
- What is SSV Network (SSV)? Overview of SSV Network Cryptocurrency
- What is Ethereum? All About Ethereum
Overview of Obol Network
What is Obol Network?
Before talking about Obol Network, we need to know about Obol Labs which is a software research and development group focusing on infrastructure platforms, which are Blockchains with Proof of Stake consensus mechanism. Obol Labs’ construction focus includes:
- Internet Bonds.
- Distributed Validator Technology.
- Multi-Operator Validation.
Obol Labs’ development team includes more than 20 members distributed around the world. Currently, Obol Labs is building Obol Network based on Distributed Validator Technology (DVT) with the goal of promoting trust reduction in staking into multiple Node Operators.
If Rollup solutions in general and Layer 2 in particular are solving the problem of expansion on Ethereum, Obol Network believes that DVT technology will play a similar role in solving the problem of decentralization on the platform. . Some components that make up Obol Network include:
- Distributed Validator Launchpad: Is where users deploy a Distributed Validators.
- Charon: Is a client application that allows Validators to be deployed in a distributed and fault-tolerant manner.
- Obol Managers: A set of Smartcontract methods written in Sodility to build Distributed Validators.
- Obol Testnets: Testnet network for trial deployment before officially posting to mainnet.
Vision of Obol Network
At Obol Network, the development roadmap and vision are divided into two phases including V1 and V2.
- Obol Network V1: In Obol Network V1, Distributed Validators will have an off-chain dispute resolution solution, meaning users can know and communicate with Node Operators when their cluster is having problems. .
- Obol Network V2: In Obol Network V2 version, there will be a program to ensure that Node Operators who are not online and participate in validation will not receive any rewards. From there, users can choose active and reputable Node Operators.
Development Roadmap
Obol Network still has a lot of time to reach mainnet.
Investor
- October 1, 2021: Archetype has invested in Obol Network for an undisclosed amount and valuation.
- January 17, 2023: Obol Network successfully raised $12.5M in Series A round with the leadership of Pantera Capital and Archetype, besides the participation of many big names such as Spartan Group, Nascent, Etherenal Ventures, Swiss Staking,…
Core Team
Oisin Kyne: Co Founder & CTO
- Oisin earned a Bachelor of Science (BSc) in Computer Science from University College Dublin.
- Some of Oisin’s outstanding jobs include being a full stack programmer at SportLoMo, where Oisin focuses on PHP and SQL. Next, more than 1 year working with Consensys – parent company of Infura, Linea, Metamask,…
- In May 2020, Oisin worked as a director at Kyne Software – a software development business providing specialist Ethereum Software Engineering and Consulting work to clients. Developed an enterprise-grade Ethereum 2 staking infrastructure along with an NFT issuance system.
- By April 2021, Oisin founded and built Obol Labs.
Obol Labs’ development team has many members who have worked at large organizations in the Crypto market such as Binance, Consensys, Matrixport, Nethermind, SKALE, …. and large organizations in Web2 such as Walmart, Adobe ,…
Tokenomics
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Exchanges
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Project Information Channel
Summary
Obol Network is one of the prominent projects in the DVT segment, expected to create a decentralized movement on Ethereum. Hopefully through this article, everyone will understand more about what Obol Network is?
