ConsenSys launches MetaMask Staking feature

Monday 16 January 2023 15:19 CET | News

US-based blockchain software company ConsenSys has launched the MetaMask Staking feature in order to make staking more accessible for newcomers.


MetaMask Staking will incorporate directly into the MetaMask Portfolio dapp, and it will improve access to staking worldwide by allowing MetaMask users to stake crypto (ETH) with providers such as Lido and Rocket Pool. 

In September 2022, Ethereum transitioned from a PoW (proof-of-work) consensus mechanism to a PoS (proof-of-stake) one. Proof-of-stake is a different kind of cryptocurrency consensus mechanism for processing transactions and creating new blocks in a blockchain. This system implies that crypto owners offer their coins as collateral for the chance to validate blocks. Coin owners with staked coins become validators, who are then selected randomly to validate (instead of mine) the block. 

In this context, staking has become an important part of the crypto ecosystem, but it can be a complex and discouraging process for newcomers. Through MetaMask Staking, ConsenSys hopes to provide an easy-to-understand and trusted entry point for users interested in staking. The new feature allows users to compare the rewards rate, network control, and popularity of different liquid staking providers before choosing the one that they wish to work with. 

The feature is in a public beta phase on the MetaMask Portfolio dapp, and for now, users can stake ETH through Lido and Rocket Pool. MetaMask Staking also allows users to aggregate their assets across multiple accounts and networks.


US-based blockchain software company ConsenSys has launched the MetaMask Staking feature in order to make staking more accessible for newcomers.


Other MetaMask updates

In November 2022,  ConsenSys has launched MetaMask Bridges to make it easier for users to move tokens from one blockchain network to another. Blockchain bridges support interoperability between different blockchains, and there are currently more than 60 of them available, each with its own security, trust, and risk profile. Some of the most noteworthy examples include Connext, Hop, Celer cBridge, and Polygon Bridge, all of which are available in MetaMask Bridges. 

The aim of this feature is to allow MetaMask users to bridge across multiple networks within the Portfolio dapp without having to do their own research to find a reliable and safe bridge. MetaMask Bridges is an aggregator, and as such, it enables users to find the bridges they need either by choosing a recommended one or by comparing the available listings manually by price and speed estimates. 

Once a bridge has been selected, tokens can then be transferred from one network to another in just a few clicks. According to the official press release, all bridges available on the Portfolio dapp have been curated for security and decentralisation. 

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Keywords: cryptocurrency, product launch, digital assets, blockchain
Categories: DeFi & Crypto & Web3
Companies: Consensys
Countries: United States
This article is part of category

DeFi & Crypto & Web3


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