- The alliance aims to bring institutional-level efficiency to restaking.
- The deal bridges web3 technology with the traditional enterprise infrastructure.
- EIGEN price rebounded after the announcement.
The web3 branch of Japan’s telecom giant NTT Group has announced a strategic collaboration with EigenLayer’s infrastructure provider EigenCloud.
As part of this partnership, NTT Digital will run the data availability layer, EigenDA, as a validator, strengthening the ecosystem’s security and reliability.
The X post highlights NTT Digital’s broader goal of pushing the decentralized economy.
As an EigenDA validator, the web3 firm will directly participate in enriching the restaking sector, a feature that has seen massive traction among crypto enthusiasts looking to secure many platforms leveraging shared Ethereum trust.
Restaking ensures capital efficiency by enabling individuals to stake the same assets on the primary blockchain and other networks, consequently securing many networks concurrently.
Users can enjoy additional rewards for securing more protocols, though with amplified slashing risks.
Bolstering the restaking sector
EigenLayer’s restaking mechanism has been among the most-watched innovations within the Ethereum ecosystem in the past few months.
The model creates a shared security environment by allowing individuals to restake ETF to secure other blockchains.
Besides boosting security, EigenLayer’s restaking approach reduces the barriers for launching new protocols.
With NTT Digital as a validator, EigenLayer gets a reputational boost and additional infrastructure backing.
Such an environment could attract more developers and enterprises to explore EigenLayer’s capabilities as a network for creating dApps.
That will enhance demand for native EIGEN in the coming times.
NTT Digital brings its experience in running scalable, secure infrastructure that could be essential as EigenDA supports multiple applications.
Validator diversity translates to stable uptime, which is crucial in ensuring trust in restaking.
Working with enterprise players like NTT guarantees the EigenLayer community that the data availability layer will remain reliable even amid skyrocketed demand.
EIGEN’s growing demand
The altcoin plays a key role within the EigenLayer platform, aligning incentives.
Validators receive EIGEN as rewards.
Also, the token supports restaking activities and network upgrade governance.
Increasing adoptions means growing roles for EIGEN as an economic and decision-making instrument.
Success by NTT Digital as a validator could draw more corporates to the platform, boosting EIGEN’s demand further.
EIGEN price outlook
EigenLayer’s native token displayed recoveries following the news.
It trades at $1.78, up 2.5% on its daily chart after a notable rebound.
EIGEN has maintained impressive price actions in the past few sessions.
The coin gained nearly 20% and over 35% the past week and month.
Technical indicators suggest EIGEN could lead the next leg up in the broader crypto market.
The MACD and RSI on the daily timeframe show buyer presence.
Also, EIGEN boasts reliable support as it trades above the 50- and 100 Exponential Moving Averages.
Source: https://coinjournal.net/news/web3-firm-ntt-digital-partners-with-eigenlayer-to-accelerate-restaking-adoption/
