• Market Cap
    $1,475.212B -3.03%
  • POW Market Cap
    $1,013.527B -4.37%
  • POS Market Cap
    $144.349B -4.90%
  • Masternodes Market Cap
    $3.392B -6.24%

BitGo Launched Staking Platform for Dash and Algorand

By Lorenzo - 2019-10-05

Bitgo, a digital asset trust platform and security company has announced the launch of its new staking platform. Customers will have the option to delegate the staking process to the Bitgo Trust or use a staking provider of their choice.
The rate of return will be a minimum of 7% up to 13%, however, Bitgo has warned users that these rates may vary in the future.
According to the announcement, the custodial assets are insured for up to $100 million and the private keys are not stored online as Bitgo offers seamless integration of the assets into the cold storage.
Additionally, Bitgo has also announced the acquisition of a Hedge which will help set the foundation of the new staking platform.
Bitgo explains in the announcement what made the team consider launching a staking platform.
Proof of Stake (PoS) is gaining ground over Proof of Work (PoW) as a number of new protocols move to the PoS model. Unlike PoW, PoS does not need substantial amounts of committed mining power and the ability of PoS coins and tokens to generate passive returns makes them attractive to a variety of investors.
Bitgo supports Dash which led the initial partnership last year. ‘’Dash support in BitGo Staking builds on this relationship and provides additional ways to derive value from Dash in a safe and secure environment’’ Said Ryan Taylor, CEO of the Dash Core Group.
Last month, Binance, the most popular cryptocurrency exchange also launched its new staking platform and announced the support for TRON as well as other digital assets.