ConsenSys-partner Trustology is making ETH 2.0 staking easier for institutions

Spread the love

A project from the ConsenSys “Codefi” cohort said Friday it will be one of the first projects to offer seamless Ethereum staking services across a range of applications; when the upgrade is rolled out later this year.

Bringing ETH staking to institutions

London-based Trustology announced today they be one of the first to offer built-in ETH 2.0 staking support, across mobile, web, or API integration, for its client base of institutional investors and individuals when the upgrade comes later this year.” target=”_blank” rel=”nofollow noopener noreferrer

The firm is part of Ethereum venture lab ConsenSys’ Codefi initiate — which boasts firms like Binance and Trustology building staking-as-a-service pilots ahead of the platform’s shift to a staking consensus algorithm.

Trustology said its product allows investors with staking and validator tools built for easy access and better accessibility. The firm also promises greater security as all private keys to are securely locked-up in the enterprise-grade TrustVault.

Multiple layers of security are touted. These include biometrics, multi-sig, walled gardens, and top-tier encryption. These are important aspects for institutions to consider and invest in Ethereum nodes (whenever they roll out).

A proprietary API will allow users to stake via both desktop and mobile devices. This ensures accessibility to all investors and validators, regardless of their choice of platform.

Alex Batlin, CEO and founder of Trustology, said in a release:

“We are able to lead the market in offering a fast and scalable custodial wallet solution both for investors looking to stake on ETH 2.0 and for validators involved in staking operations.”

Institutions ready to stake

Ethereum’s much-awaited shift to ETH 2.0 will see it shift to a staking-based consensys design. This would allow for scalability and faster transactions; while allowing investors to earn “passive” income for locking their ETH.

The demand is strong. Reports suggest over 120,000 wallets hold upwards of the minimum 32 ETH — signaling strong interest and a huge number of investors ready/able to start validator nodes.” target=”_blank” rel=”nofollow noopener noreferrer

Trustology — alongside other Codefi partners — aims to remove complexities associated with ETH staking; which involve withdrawal key generations and digitally signing transactions. The latter requires some technical knowledge; which not every investor may be versed in.

The demand’s not only from the retail side. A PwC report this year noted 42% of all crypto hedge funds were “actively engaged” in staking—with a further 38% and 27% of hedge funds respectively involved in borrowing and lending.

All that’s left is the ETH 2.0 rollout; and that’s either this year or next depending on which Ethereum developer you ask.

The post ConsenSys-partner Trustology is making ETH 2.0 staking easier for institutions appeared first on CryptoSlate.

Source: ConsenSys-partner Trustology is making ETH 2.0 staking easier for institutions

Recent Posts

  • Cryptocurrency

Basic understanding of Bitcoin Wallet

Cryptocurrency has been there for a while now and recently it's all over. Millennials have…

  • Gaming & Gambling

mBit Casino – Legit Bitcoin Casino Review 2022

mBit casino is a fully regulated and licensed Bitcoin casino that provides new players a…

  • Cryptocurrency

Voyager Digital submits a Chapter 11 bankruptcy and recovery strategy

Voyager Digital submits a Chapter 11 bankruptcy filing and offers a recovery strategy. Voyager Digital…

  • Gaming & Gambling

Axie Infinity Ronin Bridge relaunches after hack

After the hack, Axie Infinity's Ronin Bridge has been audited and relaunched successfully and is…

  • Coinbase

Closing Coinbase Pro and merging trading services

When Coinbase Pro was introduced in 2018, it was intended to accommodate more than 250…

  • NFT

Snoop Dogg impersonator was seen walking around NFT.NYC

The impersonator Doop Snogg was hired to "create excitement" at the NFT NYC conference. A…