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What is SSV coin? Introduction to SSV coin issue price, total amount and white paper
SSV coins, vital for the security and accessibility of proof-of-stake blockchains like Ethereum, are used for bonding, slashing protection, and network governance within the SSV network.
Oct 07, 2024 at 06:48 pm
What is SSV Coin?
1. Overview
SSV Coin (SSV) is a decentralized staking token used in the Secret Shared Validation (SSV) network. SSV aims to enhance the security and accessibility of proof-of-stake (PoS) blockchains, particularly Ethereum.
2. Role in the SSV Network
SSV nodes, operated by independent validators, use SSV coins for the following purposes:
- Bonding: SSV coins are staked as collateral to participate in the staking process.
- Slashing protection: In case of a network dispute, validators may lose their staked coins as a penalty for misbehavior.
- Governance: SSV coin holders participate in network governance decisions through voting.
3. Issue Price and Total Supply
The initial issue price of SSV was approximately $0.45 per coin.
The total supply of SSV is capped at 100 million coins.
4. White Paper
The SSV white paper, published in May 2021, outlines the technical details of the SSV network, including its architecture, security model, and economic incentives. It can be accessed here: https://secretnodes.org/docs/ssv-v0.3.pdf
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