Ethereum software firm ConsenSys has partnered with cybersecurity firm Securosys to bring a more secure method for long-term Ethereum 2.0 staking, ConsenSys said in a press release shared with The Chain Bulletin on 2 February.
According to the announcement, the new partnership will ensure the security of ETH 2.0 staking by removing the “challenges of operating independent validator nodes”. The collaboration will allow users to create Ethereum 2.0 withdrawal keys in Securosys Hardware Security Modules directly from the ConsenSys Codefi Staking API. By using a multi key control mechanisms, Securosys ensures stakers never lose control over their ETH 2.0 withdrawal keys. The Product Lead of Codefi Staking, Kuhan Tharmananthar, said in a statement:
“Together with Securosys we can provide an end-to-end solution for Ethereum 2.0 staking. By combining Codefi with Securosys Hardware Security Modules our customers achieve the highest level of security and convenience when moving from Eth1 to Eth2.”
ConsenSys has further stated neither it, nor Securosys, will have any exposure to the users keys, letting stakers retain control over the keys. Using its authentication mechanisms, Securosys ensures the security of the keys not only against external attacks, but also against various failure factors.
By using ConsenSys’s Codefi Staking platform, users are able to deposit their ETH to the Ethereum 2.0 Beacon Chain. By doing so, individuals are able to access Ethereum’s proof-of-stake (PoS) consensus mechanisms, which allows users to stake their tokens for validating blocks, and earn rewards. At the time of writing, almost 2.9 million ETH have been sent to the ETH 2.0 deposit contract.