Sirwin
Sirwin

MetaMask Launches Ethereum Staking Validator

By KMatt | Blogging Crypto | 22 Jan 2024


Metamask, the most used crypto wallet in the world, announced on January 19, 2024 the launch of a new function called "validator staking" and will allow users to run Ethereum validation nodes by staking at least 32 Ethereum (approximately $80,000), currently binding to participate in the trial.

Metamask's staking validator was developed in collaboration with Consensys Staking, a "parent" staking company of Metamask and already manages 4% of all currently staked ETH.

*Ethereum staking is a process through which users can earn an income on their cryptocurrencies by participating in the blockchain block consensus and validation process, thus contributing to security. The current APR, i.e. the annual income, is around 3.5%, MetaMask would offer 4% but with a 10% commission on earnings (much criticized by users for being too high).


The goal of this feature is to "decentralize" the staking sector and simplify access to it.
In fact, Lido Finance is practically monopolizing the ETH staking market, covering as much as 32% of the entire sector, raising concerns about the security and reliability of the staking system.
Finally, validator staking is still under development, available only to those who already have an active validator node. The company aims to make it available to all users by the end of the year.
Furthermore, it is possible that MetaMask could offer the possibility of running validator nodes with less than 32 ETH (a figure not within everyone's reach).

Reducing the minimum level of ETH and the commissions would make it a very very interesting service, let's hope it happens soon!

 

 

If you liked the article, subscribe and leave a like to not miss the next updates

Here below some links if you'd like to support me:

 

Freecash (earn 20/100$ each month without cash investment)

https://freecash.com/r/Hello8

 

Cointiply (earn 20/100$ each month without cash investment)

http://cointiply.com/r/MN4eP

 

How do you rate this article?

17


KMatt
KMatt

Welcome to my blog <3 I love playing videogames, interested in crypto, support #lgbtqi+ and human rights


Blogging Crypto
Blogging Crypto

Blogging crypto

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.