eigenlayer

First of all, we can say that EigenLayer is an original work. That's why I can't compare it to other projects you know. We need to explain a few basic information for you to learn. Lets start. The first thing we will talk about is Bitcoin. What is Bitcoin? Bitcoin is a payment network consisting of a piece of code. What makes this payment network different from other payment networks is that everyone downloads the Bitcoin code to their computer and joins the network. In this network, information/data is processed into computers in blocks, package by package, and due to this structure, we call Bitcoin blockchain. We call the people who process these blocks and write them to the network as miners. Miners process blocks using electricity and processing power. And the more this processing power, the higher the chances of processing blocks. Why is it desired to process a block, because the miner who processes the block receives the block reward + transfer fees for the transactions within that block in Bitcoin. In other words, there is a symbiotic relationship between Bitcoin price and mining. An increase in the price of Bitcoin encourages miners to participate more in the network. We call this crypto-economic security. From where? As the Bitcoin price increases, more miners join the network, more honest miners cause that network to be more secure, because according to the Bitcoin consensus, if 51% of the miners are malicious, the processing of information into the network may stop or false information may be processed. Crypto-economic security. Ethereum is a blockchain that first works with this system and then switches to PoS. Here, instead of mining devices that require large processing power, tiny computers containing 32 Ether are used. In this case, electricity is saved. And in order to ensure the crypto economic security I explained above, each correct block processed into the Ethereum blockchain pays Ether to computers with 32 Ether, while in case of cheating, 32 Ether is deleted. (Slashing) This is also a crypto-economic security. If you pay attention, in both models, the increase in the price of existing currencies actually increases the security of that system. While the Bitcoin price encourages miners to join the network, the Ether price makes it difficult to attack the network. That's why Bitcoin or Ether has a price; They have the task of protecting the blockchain crypto-economically. Now. There is only one thing about Bitcoin; peer-to-peer, that is, sending value between peers. by tobby kit written.