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Stkr provides bulletproof ETH 2.0 staking solutions

ANKR | 11.20| 33

While it’s no secret that Stkr is not the only solution for Ethereum 2.0 staking on the market, we are doing our best to provide you with a working product that allows you to partake in this exciting process right off the bat.

Given that the Ethereum 2.0 launch itself is far from being completed (and Ethereum developers sometimes tend to extend their deadlines), a few bumps in the road are to be expected.

Nevertheless, we’re proud to call Stkr the first functional ETH 2.0 staking solution out there currently, and are implementing more functionalities, on the staker side as well as the provider side, as we speak, as we are committed to providing value to our early adopters.

Here are our main achievements so far:

Live mainnet deposit contract

Stkr is currently the only ETH staking protocol with real value locked. So far, more than 1,320 ETH has been staked via the Stkr mainnet deposit contract. We believe that we managed to achieve this result through democratizing the staking process for everyone, because with Stkr, you can stake with as little as 0.5 ETH.

Also, Stkr went live soon after the Ethereum 2.0 deposit contract was deployed, meaning that we’re fully up to speed with ETH core developers, and are ready to implement further upgrades as soon as the Ethereum 2.0 mainnet launches — for now set at December 1st, 2020.

Zero slashing risk for stakers!

The proof-of-stake (PoS) model has a built-in mechanic called “hard slashing”, which means that customer funds are at risk of being slashed in case of double-signing blocks or extended validator downtime.

The purpose of this mechanic is to keep the network safe from malicious actions, and as a result investors might lose up to 5% of their stake if something goes wrong.

Stkr completely eliminates this serious risk for stakers through our provider insurance fund. The insurance is a stake of either 2 ETH, or 1.6 ETH worth of ANKR tokens (this amount might vary due to price fluctuations), which all Micropool providers are required to deposit in order to run their pool.

If slashing occurs on their pool, any ETH lost from the Micropool as a result is compensated to stakers from the insurance fund. If their insurance drops below a safe amount, all pool Stakers will be moved elsewhere to ensure the safety of their funds.

No hardware required

Stkr is fully supported by Ankr’s extensive proprietary hosting infrastructure. This means that with Ankr, node providers don’t even need any hardware to run and maintain Ethereum 2.0 nodes and set up Micropools!

Utilizing Ankr as a node provider will minimize slashing risks by the Ethereum network. As the modes run on dedicated hardware and the network is monitored by the systems we have in place.

This unique feature of using Stkr has been made possible by several years of technological investment in building the Ankr platform into the seamless “one click deployment” system it is today. No one else can offer this service, making Stkr and Ankr the perfect combination for risk-free Ethereum staking.

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Stkr provides bulletproof ETH 2.0 staking solutions was originally published in Ankr on Medium, where people are continuing the conversation by highlighting and responding to this story.

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