MetaMask and Consensys Team Up for Seamless Ethereum Staking
MetaMask, the widely-used cryptocurrency wallet app, has formed a strategic partnership with Consensys to facilitate Ethereum validator node operations for users who are interested in staking a minimum of 32 ETH.
Since Ethereum’s shift from a proof-of-work to a proof-of-stake network during the September 2022 upgrade known as ‘The Merge,’ the network’s security relies on validators.
Many staking service providers enable users to combine smaller fund amounts to meet the 32 ETH threshold required to operate a validator, sharing rewards among participants.
In contrast, MetaMask’s latest staking solution distinguishes itself by eliminating the need for fund pooling and any specific hardware or software prerequisites.
Instead, the 32 ETH stake is utilized to operate a validator node through the Consensys Staking service, which presently manages validators representing approximately 4% of the total staked ETH.
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MetaMask assures an approximately 4% annual yield on rewards, prior to deducting a 10% fee. The company acknowledges the variable nature of this yield, attributing it to the inherently random selection process determining which validator’s block is added to the network.
While MetaMask also provides pooled staking options through renowned services like Lido and RocketPool, the advertised rewards for these alternatives are currently lower, standing at 3.53% and 3.14%, respectively.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
