AlfaFrens

Basics:
- Many of you probably have heard of proof of work vs proof of stake
- Proof of work usually = mining coins using computing
- Proof of stake = mining new coins by staking your old coins

You probably also heard of the meeerge, when ethereum transitioned from PoW to PoS

We good until now? I hope so...

More stuff:
- Ethereum is the biggest most active smart contracts ecosystem
- Its token $ETH is the gas/governance token powering its blockchain has a massive marketcap and very liquid market (compared to other cryptoassets)
This makes ethereum, the network, pretty secure

However, now if you want to create a new system secured by proof of stake... you have to build another secured network, by another liquid token, which takes years to build and a lot of luck, and attracting capital... oof... and for that to happen you need a strong network first...

So you're left with a chicken and an egg problem... how do we solve this?

Enter... EigenLayer.. The idea is really very simple...

To secure any new network or system, why can't we just use... Ether... again.

Not even native $ETH, but staked $ETH 🤯

This is it, you can literally just stop here and go to sleep. This is literally what the fuss is all about, a solution which allows us to create new proof of stake system re-cycling old eth lol

But wait...