EigenLayer Gets $70M From a16z to Launch Off-Chain Verifiability Platform
EigenLayer has launched EigenCloud, a platform that enhances blockchain verification capabilities for applications both on and off-chain. The initiative received a $70 million investment from Andreessen Horowitz, building on a previous $100 million funding round. EigenCloud addresses the challenge of verifying complex off-chain computations while maintaining blockchain trust. It features three main components: EigenVerify for dispute resolution, EigenDA for data availability, and EigenCompute for execution. The platform utilizes Autonomous Verifiable Services (AVSs), decentralized modules that leverage restaked Ethereum security to perform verifiable tasks. Financial services firm Securitize plans to implement EigenCloud for asset pricing verification in a tokenized fund. EigenLayer emphasizes systemic resilience in its slashing mechanism, ensuring localized failures without affecting the broader Ethereum network. The platform aims to support various use cases, including AI verification and prediction markets, with an alpha version available for developers. Broader access is expected later this year.
