Eigenlayer has introduced a new platform called Eigencloud, designed to bring verifiability and transparency to both blockchain natives and traditional applications.
The launch, released in a statement shared with Cryptoslate on June 17, introduces a unified system that harnesses the power of the lamina propria ecosystem, including native indigenous tokens.
Seigen Labs CEO Sreeram Kannan said Eigencloud represents a leap of blockchain programmerism as it creates a “virtually verifiable on-chain.”
He added:
“Eigencloud enables the next generation of disruptive mass market crypto apps, allowing developers to bridge the gap between what they want to build on-chain and what allows developers to build blockchain. It opens up opportunities for developers to build highly ambitious products, such as intermade digital markets, on-chain insurance, fully on-chain games, automated screening, and powerful forecasting markets.
However, access to the platform was initially limited to selected developer groups, with more availability expected later that year.
eigencloud
The platform’s co-innovation lies in transforming verifiability into a programmable layer of service, according to the statement.
This allows developers to create applications that can prove what happened and why it happened, whether the data is on or off-chained, and see how accurate it is.
To achieve this goal, Eigencloud will merge with all existing third-party autonomous verifiable services (AVS) with in-house developer primitives such as Eigenda (for data availability), Eigenverify (for dispute resolution), and Eigencepute (for calculations).
On the other hand, one of the outstanding features of Eigencloud is that it can provide verifiable calculations for off-chain processes, just like the layer 1 chain that Layer 1 chains offer on-chain. This allows developers to build applications that rely on external data or calculations without compromising integrity.
Additionally, the system is designed with incentives in mind. Eigen Token owners can help you wager assets, secure applications and earn rewards for platform activities. This model creates a direct link between protocol participation and real-time utilities.
Andreessen Horowitz gets a $70 million Eigen Token
Venture capital firm Andreessen Horowitz (A16Z) has invested an additional $70 million in Eigen tokens to support the deployment of Eigencloud and the broader Eigenlayer ecosystem. This follows a $100 million Series B investment in Eigen Labs in 2024.
The added capital will help accelerate developer recruitment and expand the platform’s cryptoeconomic incentives. Especially for Eigen Stakers who can earn returns by ensuring decentralized applications.
Ali Yahya, general partner of A16Z Crypto, said the company views Eigenlayer as a solution to long-standing restrictions on blockchain. He said:
“Eigenlayer is overcoming the technical bottlenecks of blockchain to enable new categories of applications built on verifiable solutions.”
However, despite growing institutional interest, Eigen Token has experienced a decline in prices.
Digital assets have fallen by more than 11% in the last 24 hours, and have fallen by almost 30% in the past month, according to data from Cryptoslate. At the time of writing, Eigen is trading at around $1.15, down more than 80% from its peak in December 2024.
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