RigoBlock, an open token management protocol and PayRue, a crypto wallet platform, announced today it will jointly launch an easy-to-use pooled Proof-of-Stake mining service for Ethereum 2.
The Ethereum Foundation has announced the launch of the Beacon chain, the first pillar of Ethereum 2. It will be based on a Proof-of-Stake (PoS) consensus protocol, which means that holders will be able to stake their Ether and earn rewards in proportion to their stake by validating transactions.
RigoBlock’s protocol is an ideal candidate to build services such as pooled Proof-of-Stake mining on top of. ETH holders can join a RigoBlock Ethereum 2 mining pool with substantially less than the required 32 ETH.
An additional value of the RigoBlock protocol is re-staking, which allows users to compound their rewards.
“The user journey for the PayRue user will require no technical knowledge and the magic will happen in the background between the PayRue and RigoBlock backends. The joint cooperation will lower the barrier to Ethereum 2 mining and let ETH holders stake easily from their smartphone.”
– The RigoBlock Team