MyEtherWallet is one of the most popular and widely used wallet suites in the entire Ethereum ecosystem, while Staked is a leading provider of staking services for top-notch proof-of-stake (PoS) chain blocks. Now, the two quality projects can be used together.
That’s because this week MyEtherWallet announced it’s integrating Staked’s new Eth2 staking service into its flagship web dashboard and Android MEW app.
The start of Eth2, dubbed Phase 0, is new in its own right starting December 1st, setting Ethereum firmly on the path to its biggest evolution to date. Staked MEW integration is similarly new because it marks the first time mobile users can easily access Eth2 staking services.
As MEW CEO and founder Kosala Hemachandra noted in a press release shared with Blockonomi:
“By integrating Staked, we allow users to participate on Ethereum 2.0 in a way that is easy and accessible by nature. Ethereum 2.0 moving forward is a huge step for our community, and we want MEW users to know that as Ethereum continues to play a bigger and dominant role in the world, we are going to continue to build MEW close to the the entire Ethereum ecosystem. ”
Indeed, MEW has a great shot at becoming a one-stop hub for non-captivating mobile Eth2 stickers and beyond, while the integration gives Staked, which also offers services like the Robo-Advisor Product (RAY) , directly access to serve MEW user drones.
“MEW is properly regarded as one of the original Ethereum wallets and it is only fitting that MEW users can now take advantage of our staking infrastructure to take part in a major Ethereum upgrade,” said Staked CEO Tim Ogilvie .
The kicker? The new staking integration will be easy to use, as consumers will only need a few clicks to start earning their Eth2 verifier awards (which currently generate annual returns of around ~ 15% ).
MEW evolved beyond the Mere Wallets App
If you are not familiar with MEW or have not used it in the meantime, you might think that it is just an Ethereum wallet provider. A “wallet” is a company name after all!
And yet, that’s not true, especially in recent months as MEW has struggled to build a DeFi Boost that offers a suite of services and integrations that are useful to power users and Ethereum beginners alike.
For example, over the summer the MEW team released Swap, a decentralized trading service powered by DEX.AG (which has since rebranded to Slingshot).
Weeks later, MEW followed that statement by integrating with enthusiastic DeFi projects like Aave and Ren through MEWconnect, the forerunner of MEW’s newer and better mobile app offerings. These apps have become more and more popular, as they allow users to easily move BTC to Ethereum and more.
Forward Challenges for Eth2?
In an interview earlier this month, MEW CEO Kosala Hemachandra said the ongoing Eth2 roadmap will bring its share of difficulties. That’s not surprising, certainly, but it does suggest that the full Eth2 upgrade is likely to span several years.
At the time, Hemachandra said:
“Essentially, after the Beacon Chain launch Ethereum will focus on Phase 1 specs. It will go through a lot of iterations similar to Phase 0 and tons of bug fixes. It is difficult to define a particular issue as the next obstacle as many will. “
As such, the CEO of MEW estimated that full implementation of Eth2 would take at least 3 years if not longer.
“With what I’ve seen in the past, I think ETH 1 will take about 1 year, then 1.5 should take another 6 months … Phase 2 could take at least 1.5 years,” he noted Hemachandra.