In the latest Ethereum news, we can just see that ConsenSys announced that six top crypto firms will get early access to the ETH 2.0 staking platform. All of the high-profile firms will participate in a pilot project using the ConsenSys Codefi platform.
On June 17, we saw how ConsenSys tweeted about this and how the cryptocurrency exchanges Binance and Crypto.com, along with the digital asset custody providers Trustology, Matrixport and Huobi Wallet, and the investment firm DARMA Capital would all receive the early access to the ETH 2.0 staking pilot through its Codefi platform.
The cryptonews also show that the move comes in times of increasing excitement for the long-awaited ETH 2.0, which will also integrate a proof-of-stake (PoS) consensus mechanism into Ethereum (ETH). A number of network validators will also get fees in exchange for securing the Ethereum network, while they are required to lock up a minimum of 32 ETH in the network.
The CEO of DARMA Capital, James Slazas, recently described the ETH PoS upgrade as “a moment that is pivotal for both Ethereum and the Web 3.0 ecosystem.”
ADVERTISEMENT
Meanwhile, a number of third-party staking solutions are emerging as some prospective stakers are willing to give up some portions of their rewards – in exchange for custody and management services. Others do not have 32 ETH to stake.
“Some of the risks associated with running your own validator include theft or loss of withdrawal keys, incorrect transfer of funds to the [ETH 2.0] deposit contract, and not to mention hardware or internet connectivity failures which result in a loss of validator rewards,” said Codefi Staking product lead, Tim Lowe.
He also added that with Codefi, the six top crypto firms will benefit as the “validator keys are held in a secure vault with online signing capabilities,” noting that there are “multiple layers of gatekeepers that are validating transactions and preventing any unauthorized usage.”
The continued wait for ETH’s transition to PoS reminds me of this passage from @nntaleb‘s The Black Swan. pic.twitter.com/rYP4o25lyn
— Marty Bent (@MartyBent) August 13, 2017
The six top crypto firms have growing enthusiasm for the project. The ETH 2.0 staking pool is now targeting investors that are holding less than 32 Ether. But despite all of this anticipation, ETH 2.0’s rollout has seen persistent delays. A year ago, the genesis date of January 3, 2020 was pushed to mid-2020.
ADVERTISEMENT
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
