Crypto custody firm Trustology preps Eth2 staking for big money clients
Trustology, a crypto custody solutions provider, announced today plans to offer built-in Eth2 staking support for institutional clients. Ethereum 2.0 is expected to roll out the first part of a phased upgrade later this year, with passive income via staked ETH as one of the most hotly anticipated features.
Trustology making ready indicates that institutions may be looking to get in on Eth2 staking in a big way, with the potential to drive up prices in a crush to acquire the requisite 32 ETH.
Trustology will allow institutional investors to stake their ETH via TrustVault wallet accounts that offer a variety of security features, including biometric security and multi-sig capabilities, requiring multiple entities or individuals to sign off on all wallet activity. Trustology staking eliminates the need for institutional clients to run their own validator hardware to stake ETH, and will be available via desktop and mobile applications.
Trustology is one of six high-profile blockchain companies selected to participate in ConsenSys CodeFi’s Eth2 staking pilot. Staking rewards are coming to Ethereum as part of the shift from consensus based on proof-of-work computing to a proof-of-stake system, where digital assets are locked as a means of incentivizing good behavior between validator nodes that keep the blockchain moving. (Disclosure: an editorially independent Decrypt receives funding from ConsenSys.)
“Our partnership with ConsenSys enables us to fast-track stakers to the frontline to get a jump on earning interest on their passive income,” Trustology founder and CEO Alex Batlin said in a statement.
“ETH2.0 brings to the forefront the need for bank-grade secure, but lightning-fast, custody solutions,” he said. “Thanks to our custom HSM firmware, 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.”
With Ethereum transactions near an all-time high and pushing the limits of the original network, the Eth2 upgrade expected to drastically increase transaction throughput will be needed soon just to allow the protocol to keep growing.
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:
Donate Bitcoin to this address
Scan the QR code or copy the address below into your wallet to send some Bitcoin
Donate Ethereum to this address
Scan the QR code or copy the address below into your wallet to send some Ethereum
Donate Litecoin to this address
Scan the QR code or copy the address below into your wallet to send some Litecoin
Donate Zcash to this address
Scan the QR code or copy the address below into your wallet to send some Zcash