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ConsenSys Launches First Institutional Staking Marketplace
– The marketplace was launched in partnership with Allnodes, Blockdaemon and Kiln.
– ConsenSyn to introduce new features to MetaMask Web3 Portfolio dashboard on March 27th
ConsenSys, an Ethereum and
decentralized protocols software company, has launched what it called the first
marketplace for institutional cryptocurrency staking
[
Staking
Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network.In particular, staking represents a bid to secure a volume of crypto to receive rewards.In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS).PoS is a type of consensus algorithm in which a blockchain network aims to achieve
Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network.
In particular, staking represents a bid to secure a volume of crypto to receive rewards.In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS).PoS is a type of consensus algorithm in which a blockchain network aims to achieve
](/terms/s/staking/).The marketplace was
launched under MetaMask Institutional, the multi-custodial institutional web3
wallet developed by ConsenSys.
ConsenSys disclosed in a blog update published on Wednesday noted that the marketplace was launched in partnership with non-custodian staking and blockchain node infrastructure provider, Allnodes, blockchain infrastructure firm, Blockdaemon, and enterprise-grade staking platform, Kiln.
The institutional staking marketplace is also supported by ConsenSys Staking, the software company’s technology for staking.
In addition, ConsenSys noted that the marketplace has been integrated with 11 custody and self-custody platforms across the world in order to provide institutional investors with “seamless and unrivalled access to staking providers.”
ConsenSys Seeks to Break Barriers to Institutional Staking
Speaking on its motive for
introducing MetaMask Institutional, ConsenSys explained that
institutional investors have been discouraged
from participating in stalking as a result of varying fees, terms
and conditions, rebates and reporting standards offered by vendors.In
addition, various staking service providers offer different benefits to
institutions in areas such as infrastructure and certification, among others.
However, the company says its marketplace was designed to address these
issues.
“MetaMask Institutional’s staking marketplace will reduce this complexity by streamlining access to top-tier staking providers; offering standardized terms and conditions, institutional-grade reporting; and a simplified staking experience—to facilitate broader institutional web3 participation,” ConsenSys explained.
Furthermore, ConsenSys noted its plans to launch features such as institutional controls, portfolio management and digital asset monitoring on its MetaMask Web3 Portfolio dashboard on March 27th.
ConsenSys Eyes Upcoming Shanghai Upgrade
According to ConsenSys,
the Ethereum Merge which happened in September
last year shot up the total amount of staked Ether (ETH) on the Ethereum [
Ethereum
Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality.
Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin.Ethereum also enables the creation Distributed Applications, or dapps.Understanding EthereumEthereum boasts its own programming language,
Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality.Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin.
Ethereum also enables the creation Distributed Applications, or dapps.Understanding EthereumEthereum boasts its own programming language,
](/terms/e/ethereum/)
Blockchain by four million.
The number currently stands at 17.7 million, the
software company noted.The Merge moved the Ethereum blockchain from a Proof-of-Work to a Proof-of-Stake system.
ConsenSys believes that
https://www.ledger.com/blog/ethereums-shanghai-upgrade-is-coming-what-you-need-to-know”>the
Shanghai upgrade to the decentralized, open-source blockchain expected sometime
this month or next month can further boost institutional participation in
Ethereum staking.Industry stakeholders expected the upgrade or hard
fork to enable ETH holders to un-stake their assets for the first time.This
upgrade “will offer greater flexibility and control over assets,” ConsenSys noted.
ConsenSys, an Ethereum and
decentralized protocols software company, has launched what it called the first
marketplace for institutional cryptocurrency staking
[
Staking
Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network.In particular, staking represents a bid to secure a volume of crypto to receive rewards.In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS).PoS is a type of consensus algorithm in which a blockchain network aims to achieve
Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network.In particular, staking represents a bid to secure a volume of crypto to receive rewards.
In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS).PoS is a type of consensus algorithm in which a blockchain network aims to achieve
](/terms/s/staking/).The marketplace was
launched under MetaMask Institutional, the multi-custodial institutional web3
wallet developed by ConsenSys.
ConsenSys disclosed in a blog update published on Wednesday noted that the marketplace was launched in partnership with non-custodian staking and blockchain node infrastructure provider, Allnodes, blockchain infrastructure firm, Blockdaemon, and enterprise-grade staking platform, Kiln.The institutional staking marketplace is also supported by ConsenSys Staking, the software company’s technology for staking.
In addition, ConsenSys noted that the marketplace has been integrated with 11 custody and self-custody platforms across the world in order to provide institutional investors with “seamless and unrivalled access to staking providers.”
ConsenSys Seeks to Break Barriers to Institutional Staking
Speaking on its motive for
introducing MetaMask Institutional, ConsenSys explained that
institutional investors have been discouraged
from participating in stalking as a result of varying fees, terms
and conditions, rebates and reporting standards offered by vendors.
In
addition, various staking service providers offer different benefits to
institutions in areas such as infrastructure and certification, among others.
However, the company says its marketplace was designed to address these
issues.
“MetaMask Institutional’s staking marketplace will reduce this complexity by streamlining access to top-tier staking providers; offering standardized terms and conditions, institutional-grade reporting; and a simplified staking experience—to facilitate broader institutional web3 participation,” ConsenSys explained.
Furthermore, ConsenSys noted its plans to launch features such as institutional controls, portfolio management and digital asset monitoring on its MetaMask Web3 Portfolio dashboard on March 27th.
ConsenSys Eyes Upcoming Shanghai Upgrade
According to ConsenSys,
the Ethereum Merge which happened in September
last year shot up the total amount of staked Ether (ETH) on the Ethereum [
Ethereum
Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality.Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin.
Ethereum also enables the creation Distributed Applications, or dapps.Understanding EthereumEthereum boasts its own programming language,
Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality.
Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin.Ethereum also enables the creation Distributed Applications, or dapps.Understanding EthereumEthereum boasts its own programming language,
](/terms/e/ethereum/)
Blockchain by four million.
The number currently stands at 17.7 million, the
software company noted.The Merge moved the Ethereum blockchain from a Proof-of-Work to a Proof-of-Stake system.
ConsenSys believes that
https://www.ledger.com/blog/ethereums-shanghai-upgrade-is-coming-what-you-need-to-know”>the
Shanghai upgrade to the decentralized, open-source blockchain expected sometime
this month or next month can further boost institutional participation in
Ethereum staking.Industry stakeholders expected the upgrade or hard
fork to enable ETH holders to un-stake their assets for the first time.This
upgrade “will offer greater flexibility and control over assets,” ConsenSys noted..
