ConsenSys, Securosys Combine Tech for 'Secure' Way to Stake on Ethereum 2.0

Ethereum developer ConsenSys and cybersecurity firm Securosys have partnered to provide improved security when long-term staking on Ethereum 2.0.

Announced Tuesday, the firms said the "seamless and secure method" of staking allows the creation of Ethereum 2.0 withdrawal keys in Securosys' hardware security modules directly from the ConsenSys Codefi Staking API.
According to the firms, users' keys will never be exposed to Codefi or Securosys, and stakers retain control and legal ownership of the keys.
Codefi Staking is ConsySys' interface allowing users to deposit the ether cryptocurrency to Ethereum 2.0's Beacon Chain.
In order to participate in validating transactions on Ethereum 2.0, participants will need to stake ether and create their withdrawal keys as Ethereum transitions to proof-of-stake, possibly this year.
“By combining Codefi with Securosys hardware security modules our customers achieve the highest level of security and convenience when moving from Eth1 to Eth2,” said Kuhan Tharmananthar, the product lead of Codefi Staking at ConsenSys.
2,483,844 ETH (worth over $3.5 billion) has now been staked on the Beacon Chain since it went live on Dec. 1, 2020.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Tanzeel Akhtar

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.