Blockchain News
Ethereum Shanghai: Ankr to Use Cubist to Ensure Secure Withdrawals of Staked $ETH
By
Patrick
March 16, 2023
Cubist will help implement security upgrades to safeguard Ankr Protocol users making $ETH withdrawals after the Ethereum Shanghai Update.
Preparing for Ethereum Shanghai Update
As the Ethereum Shanghai Update approaches, Ankr Protocol announced it will use Cubist to ensure secure withdrawals of $ETH when unstaking is enabled.
According to an Ankr blog post, the security upgrades implemented by Cubist will include:
Enhanced protections for deposits and withdrawals
Security backend to safeguard validator keys
On-chain-verifiable deposit and withdrawal flows to give users insight before they stake.
The most-hyped aspect of the Shanghai Update (also known as “Shapella”) is it will allow users to unstake $ETH. It is widely expected that the update will continue to increase the popularity of liquid staking of ETH coins offered by protocols including Ankr.
“Ankr is thrilled to be working with Cubist to enable secure withdrawals of staked ETH for the first time on Ethereum PoS. Our priority is always protecting our customers’ funds,” Ankr Co-Founder and CTO Stanley Wu said. “We chose Cubist because their team includes preeminent experts in applied cryptography and systems security. They are uniquely qualified to secure Ankr’s most critical workflows. We believe Cubist’s involvement will make Ankr the most secure choice for Ethereum liquid staking.”
What is Ankr Protocol:
Ankr is a decentralized Web3 infrastructure for a better Web3 world. The protocol provides the most powerful multi-chain toolkit to access blockchain infrastructure, earn yields, and integrate DeFi solutions.
Where to find Ankr Protocol:
Website | Twitter | Telegram
What is Ethereum:
Ethereum is an open-source, distributed computing platform based on blockchain technology that can execute smart contracts – that is, the terms written in the contract will be executed transparently, automatically when the previous conditions are satisfied, and no one can interfere. At the same time, Ethereum also allows developers to build decentralized applications (DApps) and decentralized autonomous organizations (DAO).
Find more about Ethereum here:
Website | Twitter | Documentation | Whitepaper | Reddit | Discord | Youtube | GitHub | Ethereum Foundation Blog |
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Author
Patrick
Patrick
Originally from Texas, Patrick is based in the Cayman Islands. He has a diverse background in journalism. He holds bags mostly in stablecoins.
