The post This Binance-Listed Altcoin Announces Development That Could Transform Solana appeared on BitcoinEthereumNews.com.

Jito Foundation, which is behind the JTO altcoin listed on the cryptocurrency exchange Binance, has made the network’s first attempt in this direction by publishing the code of a staking and restaking program for Solana. This move is seen as a major step forward in Solana’s restaking journey. Restaking is a theoretical concept that allows blockchain networks to collateralize the value of other staked assets and ensure their integrity. The code published by Jito, which has not yet been audited, is expected to enable any protocol built on Solana to establish a mechanism that provides economic security to nearly any on-chain application, or “actively authenticated services” (AVS). Interestingly, Jito’s code allows users to secure AVS using any crypto asset of their choice. This feature distinguishes Jito’s restaking approach from the approach popularized by EigenLayer on the Ethereum network, which limits collateral to ETH, certain ETH derivatives, and the platform’s native EIGEN tokens. “The flexibility and customization allowed in this architecture will be especially beneficial for AVSs, which are the most important customers of these systems,” said Lucas Bruder, who participated in Jito Network. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/this-binance-listed-altcoin-announces-development-that-could-transform-solana/

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Filed under: News - @ July 26, 2024 4:26 pm