Blockdaemon introduces Solana staking API  to use this to connect institutions to the blockchain economy with a single integration.

This innovative Staking API provides institutions like custodians, exchanges, and asset managers with a secure and scalable Solana staking integration. It eliminates many of the barriers that institutions face today in gaining access to Solana staking.

Customers can now easily and seamlessly add Solana staking and reporting functionality to their offerings using Blockdaemon.

What is the Solana Staking API from Blockdaemon?

This API simplifies validator provisioning, which speeds up the Solana staking process.

The Solana Staking API reduces staking to a single call and indefinitely extends the signing time.

The API generates a single unsigned transaction that the customer must sign and broadcast to the network. This enables agnostic transaction signing, allowing the customer to use whichever custodian they prefer.

How Does the Blockdaemon Solana Staking API Work?

The Solana Staking API is extremely simple to use, and operates in the following way:

• The Solana Staking API creates your stake account
• One total transaction is created
• Sign when you’re ready; no need to sign during specific signing windows

To unstake SOL, the Solana Staking API automatically deactivates Stake Accounts based on the amount of SOL to be unstaked.

Streamlining Institutional Solana Staking

Their newest Staking API lets customers start staking Solana, securely and reliably.

Traditionally, Solana staking requires a lot of manual setup and maintenance time.

If a company chooses to run their own validator infrastructure in-house, they will need to handle the following three, non-trivial issues:

• Solana Requires High-Specification Validator Nodes: Solana validator nodes need high-quality hardware. Running on substandard machines has no chance of reaching the necessary level of performance to get staking rewards. If you can’t keep up with the rest of the network, you will lose out. If you are running a mission-critical staking operation, you can’t afford to miss out on rewards
• Node Maintenance is Time Consuming: Solana validator nodes also require constant monitoring and uptime. These responsibilities grow exponentially as a company scales their staking services
• Avoiding Solana Slashing: Solana staking is subject to slashing. If this occurs, a company may be subject to a potential loss of earnings, users, or a damaged reputation

Outsourcing Solana staking infrastructure allows teams to be efficient and focused on their core business platform. As a business, you can also save developer time that would otherwise be spent on managing node engineering resources.

By using the Solana Staking API, you immediately benefit from the following: 

• Zero Validator Node Maintenance: Blockdaemon engineers handle all validator node maintenance and updates on your behalf, to provide you with a reliable, expert service
• Secure Staking: Benefit from Solana staking that is secure by default. Get a 100% slashing insurance guarantee, backed by ISO 27001 Certification. Our team of expert engineers ensure your validators are monitored 24/7
• Faster speed-to-market: Increase your speed to market with Blockdaemon generated transactions. Accelerate access to staking rewards for both you and your clients

Rather than having to worry about infrastructure challenges, Blockdaemon lets you access Solana staking as a single API service.

Solana Staking Reporting API

To complement the Solana Staking API, Blockdaemon also offers a Solana Staking Reporting API. This API is here to serve your data analysis requirements.

The Staking Reporting API removes many of the obstacles you face in accessing staking reward information from the Solana protocol.

Importantly, you get on-demand Solana staking data. The API queries data from all Solana validators on a network. You can get the current or historical stake & rewards allocated to given delegator and validator addresses and other data.

Blockdaemon’s Staking Reporting API is aligned with your financial reporting goals.

Their goal is to simplify staking and staking reporting. This helps institutions spend less time managing infrastructure and more time focusing on what they do best.

About Blockdaemon

Blockdaemon, empowers businesses to quickly deploy and iterate innovative blockchain applications. We aim to reduce the complexity of working with blockchains through quick and easy configuration, monitoring for high availability and quality of service with enterprise-grade security.

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SOURCE

https://blockdaemon.com/blog/introducing-blockdaemons-solana-staking-api/

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Bit Digital which sustainably powers leading blockchains, announced a partnership with Blockdaemon to delegate, or stake, its ETH holdings to an Ethereum validator node to help secure and strengthen the blockchain network.

Stakers are compensated for this commitment in the form of a reward of the native network token.

Introduction

Bit Digital’s core bitcoin mining operation has expanded to include transaction validation on the Ethereum blockchain. While the company is still bullish on bitcoin and supports the bitcoin blockchain, it expects to earn money from the Ethereum network through validator rewards.

A new partnership with Blockdaemon, the leading institutional-grade blockchain infrastructure company for node management and staking, strengthens the Company’s staking operations. Bit Digital will participate in liquid staking via Portara. The liquid staking protocol developed by Blockdaemon and StakeWise and the first of its kind tailored to institutions, using a mechanism similar to traditional Ethereum staking.

Participants can use liquid staking

• achieve greater capital efficiency by using their staked ETH as collateral
• withdraw from staked positions earlier than would otherwise be possible by trading their staked ETH tokens on the secondary market.

Portara’s key differentiator from other liquid staking solutions is that it ensures users can only interact with verified counterparties. As a result, several regulated institutions that were previously unable to participate in liquid staking. Now joined Portara and are actively participating in liquid staking.

As of December 20, the Company had 7,904 ETH and 2,004 sETH-h with a combined worth of approximately $12.1 million. 2,164 ETH were actively staked as of that date, using either native staking or liquid staking protocols. The Company intends to continue accumulating Ethereum and stake substantially all of its ETH position over time.

Management Quote

Bryan Bullett, Bit Digital’s CEO, commented: “We are excited to expand from our core bitcoin mining business into validating transactions on the Ethereum blockchain. This diversification into another blue-chip digital asset ecosystem. Carries the goal of creating a new, predictable, and recurring stream of digital rewards. To be clear, we will continue to invest in and opportunistically expand our mining operations. Together, we believe bitcoin mining and ETH staking are complementary business lines that will enhance our overall margin and return profiles. It’s an exciting development for Bit Digital, and one that we ultimately believe will maximize value for all stakeholders.”

Bit Digital’s Chief Strategy Officer, Sam Tabar, added: “We are extremely bullish on the Ethereum network. Following the network’s transition to a Proof-of-Stake consensus mechanism. We expect ETH will exhibit deflationary properties over time as net issuance is substantially reduced and ETH-denominated fees are burned. The notion that the transition will decrease the network’s energy consumption by 99% is also extremely compelling to us given our focus on sustainability. Ethereum serves as the foundation for the smart contract economy and DeFi broadly. We are excited to increase our exposure to the network and support yet another leading blockchain.”

Blockdaemon CEO and Founder Konstantin Richter shared that “Blockdaemon is proud to partner with Bit Digital and provide them with best-in-class institutional-grade infrastructure for their new strategic PoS holdings. This new partnership gives Bit Digital full access to Blockdaemon’s suite of institutional staking solutions. Allowing them to increase their earned rewards from their crypto holdings. Blockdaemon was built from the ground up to provide institutions with products and services to enable them to scale and build blockchain-based businesses.”

About Bit Digital

Bit Digital, Inc. is a bitcoin mining company headquartered in New York City. Our mining operations are located in North America.

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About Blockdaemon

Blockdaemon is the leading independent blockchain node infrastructure to stake, scale, and deploy nodes with institutional-grade security and monitoring. Supporting 60+ cutting-edge blockchain networks in the cloud and on bare metal servers globally. Blockdaemon, used by exchanges, custodians, crypto platforms, financial institutions and developers to connect commercial stakeholders to blockchains. We power the blockchain economy by simplifying the process of deploying nodes and creating scalable enterprise blockchain solutions via APIs, high availability clusters, auto-decentralization and auto-healing of nodes.

Website | Twitter

SOURCE

https://www.prnewswire.com/news-releases/bit-digital-inc-announces-commencement-of-ethereum-staking-operations-partnership-with-blockdaemon-301709179.html

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Blockdaemon joins Astar to Support Builders. The Blockdaemon will improve the network infrastructure and introduce solutions for developers. To build institutional-grade dApps & products by providing full node access both for the Polkadot Relay Chain & the Astar parachain. They welcome Blockdaemon as an Astar collator, while also providing builders with a secure gateway to the Astar blockchain.

As a node operator, Blockdaemon will provide Websocket and RPC endpoints to projects building on the Astar network. Often, it is not feasible for a project, dev, or business to build and maintain their own Astar collator node to access these services. Blockdaemon’s years of blockchain node experience significantly lowers the barrier to entry for Astar-based projects.

Growing a Reliable Network

Becoming an Astar collator, Blockdaemon will bring institutional-grade infrastructure to our network. To date, Blockdaemon has launched tens of thousands of nodes across +50 blockchains worldwide. A massive infrastructure footprint spanning six continents with 99.99% uptime means Blockdaemon provides a high-performance and stable network for developers building on Astar.

Unlike validators, collator nodes do not secure the network. Instead, reliable collators, such as Blockdaemon, perform the crucial tasks of block production, collecting transactions, and producing state transition proofs for Relay Chain validators. Their reliable uptime strengthens the Astar ecosystem by ensuring the consistent operation of our network. Healthy nodes equal a healthy foundation for developers to build on.

Opportunity for Developers

That’s right, we are exploring how to leverage Blockdaemon’s vast capabilities on the Polkadot ecosystem to bring high-quality products to Astar. Broadly speaking, Blockdaemon can provide the necessary infrastructure for developers to build out challenging projects, such as DOT liquid staking. As well, our builders enjoy further support through our Spacelabs program and access to innovative tooling, including our all-in-one WASM tool Swanky Suite.

In addition to developing on-chain improvements, we will join forces on the ground in future hackathons and networking events. Specifically, we want to participate in developer-heavy events to support talented builders with bounties and our #Build2Earn program, so that they get paid for the code they write and dApps they create.

About Blockdaemon

Blockdaemon the leading blockchain node infrastructure to stake, scale, and deploy nodes with institutional-grade security and monitoring. Supporting 50+ cutting edge blockchain networks in the cloud and on bare metal servers globally, Blockdaemon is used by exchanges, custodians, crypto platforms, financial institutions and developers to connect commercial stakeholders to blockchains.

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About Astar

Astar Network — the Future of Smart Contracts for Multichain. Astar Network supports the building of dApps with EVM and WASM smart contracts and offers developers true interoperability, with cross-consensus messaging (XCM).

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