MetaMask introduces group staking feature for Ethereum holders – DiarioBitcoin

With this new feature, now any user can stake and become a validator for the network. Ethereum from MetaMask, this without having to count on the 32 ETH originally required.

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• MetaMask launches new system called Pooled Stake, aimed at users of ETH
• With this system, any user with ETH you can stake your funds
• It is estimated that around 99% of users of Ethereum They are under 32 ETH
• At this time, it will not be available to residents of the US or the United Kingdom.

MetaMaskthe popular cryptocurrency wallet with support for browsers and mobile devices, now enables a system called Pooled Stake (pool staking) for the network Ethereum, which will allow users to put funds in guarantee and derive rewards without having to allocate the total of ETH originally required to carry out this practice.

MetaMask Enables group staking for the network Ethereum

This was indicated by the team Consensys in a statement published today, where they indicate that the measure will make it possible for more people to participate in the staking system managed by the network. Ethereum, which originally requires each validator to allocate about 32 ETH (USD $115,200 approx) to support the processing of network blocks, deriving a passive profit margin from the funds provided.

In accordance with Consensys, the new system Pooled Stake comes to place because about 99% of “ETH holders have less than 32 ETH”, which makes it difficult for this large percentage of users to actively participate in supporting the network. The company indicated that this system It is now available to a select group of users and will reach more people in the coming days, although at the moment it is not enabled for residents of the US or the United Kingdom.

In this regard, the senior product manager for Consensys, Matthieu Saint Olive, commented:

“With Pooled Staking, MetaMask users now have an easy way to stake ETH on enterprise-grade validators while maintaining full control of their ETH, earning rewards, and making Ethereum more secure. “We are excited to bring our engagement solution to many more MetaMask users.”

In relation to this new product, Consensys clarifies that those who participate in the system Pooled Stake They may allocate any amount of ETH that they wish, in addition that the funds can be withdrawn at any time although the times are subject to the conditions of the network of Ethereum. The process is executed in just a few steps, and both balances and rewards can be monitored from MetaMask.

Additionally, Consensys indicates that the system is backed by its staking address, which has more than 33,000 validators. Ethereum “hosted on a multi-cloud infrastructure, in multiple regions, on multiple clients, with over 1 million ETH in collateral, zero validators cut”all backed with the highest security standards.

MetaMask expands its functions

The arrival of Pooled Stake for MetaMask It occurs within the framework of the expansion of the products and services currently offered by the wallet.

Reports published last month by various media outlets, which cited a source with knowledge of the case, indicated that MetaMask It has among its plans to enable support for the network Bitcoin, allowing the receipt, storage and sending of funds BTC, as well as other assets hosted on the network of the main digital currency.

Prior to this, entities such as Revolut and Robin Hood announced strategic integrations with MetaMask to facilitate the purchase of cryptocurrencies from the interface of said platforms.

Let us keep in mind that, at the beginning of this year, MetaMask It also incorporated the possibility for wallet users to become validators for the blockchain network. Ethereum, although under this modality you had to have the 32 ETH required by the network for this work.

Article by Angel Di Matteo / DailyBitcoin

Image edited with canva

WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.