LONDON, UK / ACCESSWIRE / September 30, 2021 / Launchnodes, the leading non-custodial services provider on AWS, has announced its first donation to Save the Children, the world's largest child rights organization. The move is in line with Launchnodes' ideology of making Ethereum staking socially beneficial and as per the company's CEO, Jaydeep Korde, is set to only grow further. Ethereum staking lets companies and individuals lock their ETH cryptocurrency holdings in order to ensure network decentralization, which in turn rewards stakers with monthly interest on the staked amount. This is then used by Launchnodes to make donations and help other charities fund their operations through ETH staking.
Making full use of ETH staking
Ethereum staking is the result of the network's switch from proof of work to proof of stake consensus algorithm. Although the shift is not yet complete and is expected to be finalized in Q1 of 2022, financial institutions, individuals and private companies are already seen flocking to participate. Corporate and private investors see this form of network participation as means of enriching their balances with additional passive income or staking yield that can then be further used in their main financial activities.
Launchnodes is not just a non-custodial Ethereum staking services provider to these entities, but also an integral part of the movement. More so, the company serves as a primary example of how to utilise Ethereum staking for social impact. Launchnodes reports that it used returns from its own ETH staking validator node to purchase tablets for Save the Children that will be used to train healthcare providers in hard-to-reach settings including refugee camps. In turn, the world's leading charity for children will use the devices to access software designed to guide healthcare providers to tackle infant and birth related mortality. Whilst infant deaths have already taken the downward trend, it is imperative to sustain activity in this field to maintain the same mortality decrease and Launchnodes hopes that its participation will complement all the efforts that Save the Children takes on a daily basis.
About Launchnodes and Ethereum staking
Founded by a team of ex fintech industry professionals, Launchnodes specialises in providing non-custodial investment grade Ethereum staking services to enterprise and individual clients. Being the leader on the independent commission-less ETH staking services market, the company closely follows the ideology that staking should be closely intertwined with the real world and real economy and deliver benefits to both.
According to Jaydeep Korde, CEO at Launchnodes, the team already sees a large number of enterprise and nonprofit entities start taking part in Ethereum staking. Korde continues that ETH staking with Launchnodes lets these companies make full use of their balances by not spending the principal amount of the funds they stake, and instead using the Ethereum staking rewards to fuel their operations and activity.
For further information on the enterprise grade ETH2 staking services, please contact peter.patsalides@launchnodes.com or visit https://www.launchnodes.com/.
SOURCE: Launchnodes
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https://www.accesswire.com/665974/Ethereum-Staking-Makes-its-First-Social-Impact-with-Launchnodes-and-Save-the-Children
