The thought of managing a validator node is intimidating and unsettling for many. However, technological expertise is not required, as MetaMask has stressed.
Staking is a popular way for people to acquire cryptocurrencies for a variety of reasons. Among them are things like being easy to use and posing little danger. Staking has just become a whole lot easier with the release of a new tool from the widely used wallet provider MetaMask for Ethereum users.
On January 18, 2024, the service provider stated that validator staking, a way for users to earn interest on their Ethereum tokens, is now live. For this, they’ll need to fund their MetaMask portfolio with 32 ETH or more and oversee all of their operations there.
Users do not need to independently handle the software or hardware required for staking, as pointed out by MetaMask in its introduction. Consensys Staking, on the other hand, has notable experience running over 33,000 validators without slashing any of them. It also has a rewards rate that is up to 7% greater than the network average and a validator uptime of 99.99%.
Participating in validator staking with MetaMask also grants users self-custody. Customers are not required to give up their tokens, even if MetaMask manages the operation’s backend. The lowering of technological hurdles is also given considerable weight.
The thought of managing a validator node is daunting and unsettling for many. However, technological expertise is not required, as MetaMask has stressed. The new program streamlines deposits and withdrawals and “unlocks simplicity and accessibility” by removing technological hurdles that were previously necessary to safeguard the network. It also democratizes participation in Ethereum staking for people who are unable or unwilling to solo stake.
All that was required was that users of MetaMask go to their wallets and choose the “stake” option. The next step is to choose the amount to stake, which must be in multiples of 32 ETH. After that, users may begin receiving rewards.
It should be mentioned that in September 2022, Ethereum shifted from a proof-of-work consensus to a proof-of-stake consensus. The Ethereum Foundation promoted this update as an effort to green the network when it was launched. Not only does it provide users with the opportunity to stake and receive rewards, but it has also lowered the network’s energy consumption by more than 95%.
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