MetaMask announces Ethereum Staking feature that is focused on accessibility

MetaMask today announced the launch of a feature which will allow users stake Ether directly with leading providers. This will reduce the technical complexity and cost of the new Ethereum mechanism.

Following Ethereum’s shift to proof of stake in September, a process known as the MergeStaking was a crucial part of the Ethereum ecosystem.

As opposed to proof of work, where blockchain transactions are validated through an energy-intensive process called mining, proof of stake instead relies on trusted entities known as validators who deposit, or “stake,” a large amount of Ether, receiving tokens in return.

There are a few main drawbacks for normal users: The process is expensive, requiring 32 Ether (about $45,000 at today’s price) to be a validator, and it requires a deal of technical expertise to run the proper software and review transactions. Finally, that Ether is locked into the ecosystem, meaning users can’t access their assets being used for staking until further updates.

Institutional investors are a large part of the staking community. There are currently over 2,000 wallets holding $1 million worth of Ether. steadily climbing.

Solutions like staking providers have been developed. Lido Rocket Pool and Ether Pool offer liquid tokens for staking Ether, which can be used to swap for other cryptocurrencies. This lowers the entry barrier.

MetaMask’s new feature, called MetaMask StakingIt is still a major step forward in accessibility for people who wish to join the worlds of staking.

MetaMask, which has 30 million users, is the most popular noncustodial wallet within the Ethereum ecosystem. It allows users to manage their private keys and it boasts the largest number of active users with over 30 million. ConsenSys is a leading crypto company, led by Ethereum cofounder. Joseph LubinMetaMask and other software that is used in conjunction with the wallet are owned and managed by.

Through the new staking feature, users can visit their MetaMask portfolio and choose a staking provider—either Lido or Rocket Pool—as well as the amount they want to stake.

Abad Mian is the lead product manager at MetaMask. He stated that users will feel less intimidated by the major update to the Ethereum ecosystem because of the ease of using the new feature.

“It’s complex, it’s hard to understand, and there’s a lot of jargon,” he told Fortune. “What we’re trying to do is reduce that complexity.”

MetaMask was recently exposed as a wallet that collects user information, contrary to its ethos.

ConsenSys was the response. announced It would be possible to reduce data retention and provide advanced settings for those who desire more control.

As the Ethereum-focused software company looks to continue its move to a proof of stake model, the new staking feature is another step in the right direction.

This story originally appeared on Fortune.com

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