MyEtherWallet, one of the most popular Ethereum wallets, has just started offering its users the possibility of staking Ethereum 2.0, Yahoo! Finance has reported.
The company has teamed up with node-hosting service Staked to offer its mobile browser and wallet users the possibility of staking ETH on the Ethereum 2.0 Beacon Chain deposit contract.
It should be noted the wallet users who wish to stake ETH 2.0 must allot at least 32 ETH. Then, Staked will execute a validating node for them, facilitating the participation of users that do not have technical knowledge, which is the reason why users do not have to do anything else.
According to Staked and MyEtherWallet, this is not a custody service, therefore, users are the sole owners of the keys that grant access to the funds.
Users who choose to stake ETH 2.0 will become network validators, replacing the miners of the proof-of-work protocol. They will receive a reward for their participation in the network, however, they will not be able to withdraw it until the protocol enters its phase two, which should happen in 2 years.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.