Focused on the Ethereum ecosystem blockchain company ConsenSys has announced that Codefi, the blockchain operating system for commerce and finance, is launching an Ethereum 2.0 staking-as-a-service.
According to an official announcement, backed by Binance, Crypto.com, DARMA Capital, Huobi Wallet, Matrixport, and Trustology, the Codefi Staking platform will be focused on providing a white-label institutional grade API, with easy and efficient access to the Ethereum 2.0 network.
ConsenSys says that for people who hold ETH, the Proof-of-Stake (PoS) consensus type gives an enhanced way to maintain the security of the Ethereum 2.0 network compared to Proof-of-Work (PoW).
Codefi Staking Product Lead Tim Lowe says some of the risks associated with running an independent validator include theft or loss of withdrawal keys, incorrect transfer of funds to the ETH 2 deposit contract or internet connectivity failures which result in a loss of validator rewards.
"With ConsenSys Codefi, validator keys are held in a secure vault with online signing capability, and there will be multiple layers of gatekeepers validating transactions preventing unauthorized usage," Lowe added.
Codefi Staking will reportedly offer direct API access and a white-labeled UI with detailed metrics and reporting whilst ensuring a minimum 99% uptime for validators confirming blocks on Ethereum 2.0.
Earlier iHodl reported that ConsenSys plans to launch a compliance service to help decentralized finance exchanges and projects (DeFi) analyze ETH-based token trading activities.
In order to prevent money laundering and illegal transactions, crypto trading platforms are required to implement security measures, including KYC (know your customer) procedures, provided by third parties such as Chainalysis, Elliptic and CipherTrace.
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