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Blockchain Infrastructure Firm Blockdaemon Expands into ETH Liquid Staking Market

Blockdaemon, a provider of crypto infrastructure, has announced its integration of Liquid Collective’s ecosystem into its platform. This move enables developers to participate in the ETH liquid staking protocol.

According to Blockdaemon, it will facilitate the minting, redemption, and custody of Liquid Staked ETH (LsETH). This integration positions “LsETH” as the primary liquid staking solution within Blockdaemon Wallet.

Konstantin Richter, Founder and CEO of Blockdaemon, expressed enthusiasm about joining the Liquid Collective, emphasizing the decision to exclusively adopt LsETH within Blockdaemon Wallet.

Liquid staking, which enables users to unlock their capital from staked assets, has garnered significant interest within the Ethereum community.

Blockdaemon Backed by Banks

Blockdaemon serves a diverse clientele that includes Blockchange, Plaid, Citibank, Goldman Sachs, and B2C2. The company boasts support from prominent backers such as Goldman Sachs, J.P. Morgan, Softbank Vision Fund, ARK Invest, Salesforce Ventures, among others.

In a Series A funding round in 2021, Blockdaemon secured $28 million, spearheaded by Greenspring Associates. This round saw contributions from notable names like Goldman Sachs, BlockFi, Warburg Serres, Uphold, and Hard Yaka. Blockdaemon’s infrastructure facilitates various blockchain networks, including ETH 2.0, Bitcoin, Cardano, Polkadot, Cosmos, SKALE, MobileCoin, the Lightning Network, and more.

The recent expansion allows Blockdaemon’s clients to seamlessly mint and redeem LsETH directly from their Blockdaemon accounts, where they can also store their LsETH securely. Liquid staking via the Liquid Collective protocol is integrated into Blockdaemon’s comprehensive suite of business solutions, which encompasses node operations, APIs, staking solutions, and wallet services.

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I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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