Anchorage to Launch Ethereum Staking for Institutions
Regulated crypto bank Anchorage has just announced the launch of an Ethereum staking service for institutional investors following the network’s transition to the proof-of-stake (PoS) consensus algorithm.
The company has initiated registration of prospective customers for the service.
Presumably, The Merge of Ethereum will take place in August. In June, the team switched the Ropsten testnet to the PoS algorithm.
Once The Merge is implemented on the main network, users will be able to deposit cryptos for staking.
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The reward will consist of two parts: a per-block reward and a transaction priority fee that miners are currently receiving. Ethereum developer Justin Drake estimates the fee will be 8% to 9%.
According to Anchorage president Diogo Monica, institutional investors used to feel «very uncomfortable to participate in staking.” The transition of such a large network to the PoS algorithm and the bank’s support will legitimize the solution as an alternative to proof-of-work.
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He has added:
«One of our major participations is about to go through an interesting transition where it will be highly motivated to create profitable games to really stake its assets. So there’s a bit of a mad rush to get a partner that can really gamble.»