March 16, 2023

W3A PRO | Staking-As-A-Service, A New B(Tri?)illion Dollar Industry

GM, DOers!

$75,000,000,000 👀

That’s how much value in crypto is staked to secure blockchains right now.

$75 BILLION… with a B

Last week we covered the business of blockchains, and this week we are covering the business of securing blockchains.

And let me tell you, this business is booming!

Proof-of-Stake blockchains are still very new – less than 7 years old. Yet here we are, $75 Billion in value securing blockchains across the internet.

I see no reason why this industry is not in the TRILLIONS (…with a T) of dollars in the next 5 or so years. Yeah, it’s THAT big (…and I’m that bullish lol)🤷‍♂️

In today's report, I’m going to break down this industry to help you understand it further as well as provide insight into its potential growth, and how you can get involved and capitalize on the opportunity.

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Now, back to the report…

The TL;DR On Staking

For a more detailed explanation of proof-of-stake (PoS) and its comparison to proof-of-work (PoW), check out an article I wrote on the Ethereum merge here.

In short, staking is simply using the native token of a blockchain as “collateral” to run a validator. Running a validator allows you to validate transactions on a blockchain.

Ultimately, you are enabling the blockchain to produce blockspace and ensure it does so accurately and permissionlessly.

To incentivize people to stake their assets and run a validator, stakers receive a reward from the blockchain, which could come from gas fees, issuance and/or other means, such as MEV.

The more validators on a blockchain, the more decentralized the blockchain becomes.

If there was only 1 validator, it would be easy to shut down, if there are millions around the world, it becomes practically impossible.

That’s why it’s important for PoS blockchains to find ways to incentivize more validators to secure its network, and make it simple to do so.

This is why Staking-as-a-Service was born. The new “SaaS” products are focused on making staking more accessible to anyone around the world.

But before we get into Staking-as-a-Service, let’s get a quick lay of the land of PoS blockchains, so we can all better understand the staking industry…

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