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

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.

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.

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.

 

Join Geezgo for free. Use Geezgo’s end-to-end encrypted Chat with your Closenets (friends, relatives, colleague etc) in personalized ways.>>
Did you enjoy this post? Please comment below:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Zcash
Scan to Donate Bitcoin to bc1qcc3xajxvdqjnx2f7j7sfcfun7jagr0nh94fa2e

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0x704671D7591d05Dd0790E86Aee964558E9347b07

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Litecoin to ltc1q7tj9ydra9ylkelu42vypp6cu2v0msf5lc2p5mq

Donate Litecoin to this address

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Zcash to t1LiPaQ7gsSL23FbjXswpSoguP6yAE1xj5B

Donate Zcash to this address

Scan the QR code or copy the address below into your wallet to send some Zcash

 176 

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *