If This New Tech Works, You Won’t Need 32 Ether to Earn Staking Rewards

0 Comments

Blox, a non-custodial Ethereum 2.0 staking platform, is developing a solution that will allow users to pool their ether (ETH) cryptocurrency to get past the threshold required for staking when the upgraded network goes live.

  • The cryptocurrency accounting service provider announced on Wednesday it is working alongside the Ethereum Foundation to develop “secret shared validator” nodes.
  • By creating a network of decentralized staking pools, Blox said it would allow users to aggregate their ETH and reach the required 32 ETH to stake on the network.
  • “Allowing ETH stakers to join the network and generate rewards with any amount of ETH is pivotal for making Eth 2.0 accessible for everyone,” said Blox’s CEO Alon Muroch.
  • Staking on Eth 2.0 requires a minimum of 32 ETH in order to participate and is expected to see an estimated 4.6%-10.3% rate of return on a user’s initial stake.
  • According to Blox, the entire process is “completely decentralized” and will enable “maximum security” for the Ethereum network and for those users looking to stake on it.
  • The long-anticipated Eth 2.0 upgrade will reshape the world’s largest smart contract platform as it transitions from proof-of-work (PoW) to proof-of-stake (PoS).
  • The move away from PoW to PoS is designed to improve upon Ethereum’s scalability issues stemming from its inability to handle a large number of transactions.
  • Muroch will discuss the initiative in greater detail on Wednesday at CoinDesk’s invest: ethereum economy virtual conference.

See also: 3 Things You Should Know Before Staking on Ethereum 2.0

Related Stories

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source Article

eToro Announces Staking For Cardano And Tron

0 Comments

eToro has started offering staking services for cardano and tron, and in addition has revealed plans to expand this service to several other digital currencies.

By staking their digital assets through eToro, users of the social trading platform can earn rewards, which will be paid out automatically on a monthly basis.

Further, leveraging this opportunity will allow them to stake these assets in a secure environment and contribute to the validation processes of various blockchain networks.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Yoni Assia, founder and CEO of eToro, weighed in on this announcement.

“Staking is an important development in the crypto market but it’s difficult for people to access its benefits on a secure platform, which is what we’re enabling our global community of investors to do by offering this new service.”

“We are proud to be one of the first regulated platforms to offer a staking service for Cardano and will be further expanding our staking service in the coming months,” he added.

Assia specified that eToro is “working on offering future staking rewards on other cryptoassets, including NEO, Tezos, and EOS.”

“We are also working with the Ethereum community to be able to offer staking on ETH2.0 when it moves to proof of stake.”

Justin Sun, founder and CEO of TRON, also shed some light on this announcement.

“We are thrilled that eToro has chosen TRON as one of the first assets to be offered on their new staking service,” he stated.

“As we continue to see diminishing returns from traditional CeFi services,