By Richard Hines
MetaMask, one of the widely used Ethereum wallets in the market, has announced the launch of a beta version of staking through Lido and Rocket Pool. This new feature will allow users to get incentives from holding and staking their Ethereum (ETH) in a decentralized and secure manner.
New Staking Feature On Ethereum
The staking process allows users to lock up their ETH and participate in the validation of transactions on the Ethereum blockchain. In return, they receive rewards in the form of additional ETH.
This new feature will enable MetaMask users to earn rewards without having to run their own staking node, making this process more accessible and user-friendly.
Lido and Rocket Pool are two of the most widely used staking platforms on Ethereum that MetaMask has partnered with to bring this new feature to their users.
Lido is an Ethereum 2.0 staking service that allows users to stake their ETH in a fully decentralized and trustless way, while Rocket Pool is a decentralized Ethereum 2.0 staking pool that aims to make the process of staking more accessible and efficient.
According to the wallet firm’s team, the beta version of staking through Lido and Rocket Pool will be available to a select group of users initially, with plans to roll out the feature to all MetaMask users in the near future.
Metamask And New Developments
MetaMask also announced that the new feature will be completely non-custodial, meaning that users will retain full control over their private keys and their ETH at all times.
This added security measure will provide reassurance for users who are concerned about the safety of their assets.
The launch of staking through these platforms is a major step forward in the development of the Ethereum ecosystem, and it is expected to have a positive impact on the overall adoption of Ethereum 2.0.
With more people participating in the validation of transactions on the Ethereum blockchain, the network will become more secure and efficient, leading to a more robust and decentralized ecosystem.
MetaMask is continuously working on new features and partnerships to make the Ethereum ecosystem more accessible and user-friendly. This partnership with Lido and Rocket Pool is the latest example of their commitment to driving the adoption of Ethereum 2.0 and the evolution of the blockchain ecosystem.