Witness Chain is the third-largest AVS on EigenLayer\u00a0with\u00a01.82 million staked Ether delegated.<\/p>\n
Witness Chain, a proof system for decentralized physical infrastructure (DePIN) networks, has attracted\u00a0more than\u00a0$5 billion worth of delegated stake from EigenLayer restakers.<\/p>\n
Witness Chain\u00a0announced<\/a>\u00a0the milestone via tweet on April 29. With the project now secured by 1.82 million ETH worth $5.24 billion, Witness Chain ranks as the third largest<\/a> Actively Validated Service (AVS) on EigenLayer behind Eigen DA with $7.79 billion and Eoracle with $5.36 billion, according to Staking Rewards.<\/p>\n \u201cThanks to our wonderful community, we’ve surpassed $5B+ in restaked ETH,\u201c Witness Chain\u00a0tweeted<\/a>. \u201cBig hug to all 16,677 stakers, 53 operators, and LRTs for embarking on this journey to unify DePIN economies.\u201d<\/p>\n Witness Chain is one of nine AVSs that are currently live on EigenLayer. EigenLayer, the pioneering Ethereum restaking protocol, allows Ethereum stakers to secure third-party\u00a0AVSs<\/a>\u00a0to earn additional yield on top of staking rewards.<\/p>\n According to Ankr, a blockchain infrastructure provider and Witness Chain node operator, Witness Chain serves to unify the siloed\u00a0DePIN economy<\/a>.<\/p>\n \u201cThrough Witness Chain, a shared economy of integrated physical assets\u00a0is unlocked, facilitating the exchange of resources like computing power, communication, energy, [and] storage,\u201d Ankr\u00a0said<\/a>. \u201cWitness Chain enables DePIN projects to share info about their physical locations, network capabilities, and more.\u00a0This\u00a0will allow dePINs to connect with each other, establishing an end-to-end supply chain of decentralized infrastructure.\u201d<\/p>\n Witness Chain provides \u201cWatchtower\u201d nodes that function as independent auditors for DePIN networks.<\/p>\n The project offers\u00a0several\u00a0key\u00a0services\u00a0including\u00a0Proof of Diligence \u2014 which verifies that Layer 2 transactions\u00a0are executed\u00a0correctly, Proof\u00a0of Location \u2014 which verifies the physical location of DePIN\u00a0infrastructure,\u00a0Proof of Bandwidth \u2014 which verifies the network bandwidth available to DePIN projects, and\u00a0a DePIN \u201cCoordination Layer.\u201d<\/p>\n Ankr said Witness Chain\u2019s architecture enables the development of new applications on top of the shared DePIN ecosystem.<\/p>\n \u201cBy enabling DePIN projects to share information like location and capacity, watchtowers help create an interconnected ecosystem,\u201d Ankr said. \u201cOnce two physically separated pieces of infrastructure recognize each other\u2019s locations and can ensure enough connectivity, they can communicate\u00a0with each other\u00a0to exchange value, drive demand, enhance reliability, and reduce redundancy.\u201d<\/p>\n Witness Chain was built using Polygon\u2019s Chain Development Kit (CDK) and is among a growing list of Polygon-based DePIN projects enjoying significant growth.<\/p>\n On April 25, Dimo, a Polygon-based DePIN project allowing vehicle owners to collect and monetize data from their vehicles,\u00a0celebrated<\/a>\u00a0that it had onboarded 80,000 vehicles within its network.<\/p>\nDePIN Ecosystem<\/h2>\n
Polygon\u2019s DePIN push<\/h2>\n