Bitcoin News and Finance DCG Mining Subsidiary Foundry Launches Range of Services for 20 Crypto Staking Networks Skip to main content

DCG Mining Subsidiary Foundry Launches Range of Services for 20 Crypto Staking Networks

DCG Mining Subsidiary Foundry Launches Range of Services for 20 Crypto Staking Networks

Foundry, the Digital Currency Group (DCG) subsidiary and cryptocurrency mining and consulting firm from Rochester, New York announced the launch of a new platform on Wednesday called Foundry Staking. The company says the product currently supports 20 blockchain networks and will provide digital asset staking and advisory services going forward.

Foundry Launches Staking Services

The New York-based Foundry has been making a number of moves in 2021 and partnering with a variety of crypto mining operations. Companies like Hut8, Bitfarms, Greenidge, and many others have joined forces with Foundry in recent times. Furthermore, in terms of Bitcoin hashrate, the firm’s mining pool Foundry USA is the fourth largest mining pool operating today with 12.67% of the network hash at the time of writing. The mining pool Foundry USA has 20.72 exahash per second (EH/s) in hashrate on November 11, 2021.

The new platform called Foundry Staking offers “white-glove services around various proof-of-stake (PoS) blockchain networks to institutions,” the announcement details. The service covers 20 blockchains so far, including PoS networks like Horizen, Solana, Helium, Flow, Livepeer, Near Protocol, Provenance, and The Graph. Essentially participants can earn PoS rewards from Foundry’s service connections to different networks and the company wants to make staking PoS networks “more accessible to institutions.”

“We have made significant investments in engineering talent and PoS infrastructure to replicate our mining success in the fast-growing staking industry,” Foundry’s CEO Mike Colyer said in a statement sent to Bitcoin.com News. “Foundry will continue to support the development and growth of staking teams, protocols, and companies, strengthening PoS networks around the world and maximizing value for our clients.”

Billions of Dollars Are Staked in PoS Protocols Today — Foundry Recognized Institutions Have a Need for Staking Services and ‘Ever-Evolving Environments’

Statistics from defillama.com indicate there are billions of dollars in crypto assets being staked today via various PoS protocols. Foundry Staking offerings are made for institutions, the press release notes and Foundry says it maintains the “institutional clients’ privacy.” According to the Foundry team, the company is working with the all-in-one prime brokerage firm, Genesis, in order to offer treasury management services such as “high-security custody, actionable insight for treasury management, staking strategies, and portfolio diversification.”

Adam Nemec, the VP of Business Development at Foundry Staking, detailed that the firm recognized that institutions have needs for these services. “In 2020, our engineering team began building our staking solution from the ground up in order to stake our own assets and support DCG. Now, after more than a year of honing and battle testing our solutions, we’re excited to bring this best-in-class offering to other institutions,” Nemec said.

What do you think about Foundry offering staking services to 20 different blockchains? Let us know what you think about this subject in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory