Verisense x Symbiotic Forge Partner to Drive Restaking Innovation

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British Virgin Islands, UK, September 9th, 2024 – Verisense Network is excited to announce a strategic partnership with Symbiotic, a leading permissionless restaking platform, aimed at unlocking the demand for networks and applications that require their own distributed validation semantics for verification. Through this collaboration, Verisense will leverage Ethereum’s robust security via Symbiotic’s restaking infrastructure to onboard and serve such networks and applications in variety, thereby realizing the vision of restaking for pooled security.

For many startups, the costs associated with booting up and maintaining a network are prohibitive. Additionally, numerous dApps are forced to adopt a chain structure purely for decentralization purposes, often leading to high costs and compromises in performance and functionality. Restaking for pooled security presents a flexible and customizable alternative, inheriting Ethereum's strong security. However, despite its promise, this emerging field lacks a comprehensive platform for developers to develop, deploy, and launch decentralized projects. Given the wide range of applications and functionalities of targeted decentralized projects, each with different security requirements and performance expectations, there is a significant market gap that Verisense is poised to fill.

Verisense’s Valication-as-a-Service network with Monadring consensus protocol and game theoretic mechanism are groundbreaking innovations that empower decentralized networks and applications onboarding, addressing the diverse security needs while balancing cost and performance. Symbiotic provides access to billions of dollars in pooled security from staked ETH and other valuable ERC-20 assets, including BTC and stablecoins, offering broader security options. By leveraging Symbiotic’s restaking infrastructure, Verisense enables developers to perform active data I/O for complex query operations, breaking the constraints of passive blockchain systems. This will make large-scale dApps with complex business logic and high computational resource demands a reality.

“By integrating with Symbiotic's restaking protocol, projects using Verisense can tap into Ethereum’s liquidity and launch applications that are not suited for traditional passive blockchain systems,” said Felix Lutsch, Head of Ecosystem at Symbiotic.

This collaboration also opens new avenues for developers seeking greater flexibility and customization. Developers only pay the minimum necessary to start a network and can freely adjust the degree of decentralization and network size according to business needs, all while inheriting robust security from Ethereum through Symbiotic and Verisense’s shared execution environments.

Helena Wang, Co-founder of Verisense Network, stated, “Restaking security is a groundbreaking approach under the broader umbrella of shared security. It opens up new possibilities for large-scale web2 applications to meet decentralization requirements. Verisense aims to onboard these decentralized applications into the restaking security infrastructure, providing them with a new home.”

About Verisense Network

Verisense is the world’s first Fully Homomorphic Encryption (FHE)-enabled Validation-as-a-Service (VaaS) network, designed to integrate seamlessly with any restaking layer. Verisense’s mission is to empower developers to create and launch diverse decentralized networks and applications through a new infrastructure built on restaking security. Learn more at verisense.network.

About Symbiotic

Decentralization should be neither difficult nor optional. Symbiotic is a customizable and immutable shared security protocol designed to help developers innovate faster and more securely. Learn more at symbiotic.fi.