node: News of Rocket Pool (RPL) - June 2024 Price Update - 7.08% Breakout Crypto News and Analysis

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Rocket Pool provides liquid staking, meaning users benefit from an increasing exchange rate instead of adding on to their initial staked collateral, which would be a taxable event. Furthermore, Rocket Pool offers smart nodes: a custom node software allowing anyone to run a node on its network. With losses from bad nodes distributed across the network, individual users minimize their risk of facing penalties. This is supported by the pool’s open-source and audited smart contracts, which guarantee fully non-custodial staking and a maximum degree of decentralization.

Explore the Core.

Rocket Pool (RPL) is a decentralized Ethereum staking protocol that allows users to earn high returns on their Ethereum holdings by participating in staking. It operates through two decentralized autonomous organizations (DAOs): the Protocol DAO and the Oracle DAO. The Protocol DAO manages settings such as RPL inflation, rewards, and staking requirements, while the Oracle DAO acts as a bridge between the smart contracts on the Beacon Chain and the ETH1 main chain. The governance of the protocol is divided between the two DAOs. The Protocol DAO manages settings such as RPL inflation, rewards, and staking requirements, while the Oracle DAO acts as a bridge between the smart contracts on the Beacon Chain and the ETH1 main chain. Rocket Pool offers liquid staking, which allows users to benefit from an increasing exchange rate without incurring taxes. Additionally, it offers smart nodes, which are custom node software that minimizes risk by socializing losses across the network. The platform allows users to join the platform’s decentralized node operator network or run their own nodes. By providing RPL collateral, users can earn a commission from staking ETH and additional RPL rewards.

Spot the Main Event:

On the 11th of June,2024. Rocketpool announced a major upgrade to their Node operator. Version 1.13.4 was released, a significant stride. This newly released version fixes issues of fallback client and also ships a new Besu version. This updated version fills holes in the previous version which has been limiting users. With this update, enhancement of the flexibility called in more users.

Trade hard. Joy is coming

Explore the Core.

Rocket Pool provides liquid staking, meaning users benefit from an increasing exchange rate instead of adding on to their initial staked collateral, which would be a taxable event. Furthermore, Rocket Pool offers smart nodes: a custom node software allowing anyone to run a node on its network. With losses from bad nodes distributed across the network, individual users minimize their risk of facing penalties. This is supported by the pool’s open-source and audited smart contracts, which guarantee fully non-custodial staking and a maximum degree of decentralization.

Spot the Main Event:

They announced next major upgrade “Houston” which has been under development for the last 9 months will be going live in just a week on the 17th June. The Houston upgrade is largely aimed at removing reliance on 3rd party systems by introducing a fully on-chain DAO to govern the protocol, known as the Protocol DAO or pDAO, to be responsible for shaping the direction of the protocol. The pDAO is run by RPL governance. Its members and their voting power are made up of node operators, big and small, all of which are directly participating in the protocol and as such, invested in its success.

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Explore the Core.

Rocket Pool's Essence: Democratizing Ethereum Staking Rocket Pool tackles limitations for users who want to participate in Ethereum staking. Here's a breakdown of the problems they address and their innovative solutions: Big Problems Addressed by Rocket Pool: High Minimum Stake Requirement: The minimum amount of ETH required to become a validator on the Ethereum network is currently 32 ETH, a significant barrier for most users. Technical Complexity: Running a validator node requires technical expertise and ongoing maintenance, discouraging many potential stakers. Lack of Liquidity for Staked ETH: Traditionally staked ETH is locked until Ethereum 2.0 is fully functional, limiting liquidity for stakers who might need to access their funds. Rocket Pool's Innovative Solutions: Minimum Staking Pool: Rocket Pool allows users to contribute smaller amounts of ETH (as low as 0.01 ETH) to a staking pool, eliminating the high minimum stake requirement. Decentralized Node Operators: Rocket Pool utilizes a network of decentralized node operators who run validator nodes on behalf of users, removing the technical burden. Liquid Staking Derivative (rETH): Users receive rETH (rocket ETH) in exchange for their deposited ETH. rETH is a tradable token that represents staked ETH and accrues staking rewards over time, offering users liquidity. Innovative Use Cases of Rocket Pool: Increased Staking Participation: Rocket Pool allows anyone with some ETH to participate in staking, potentially boosting the overall security of the Ethereum network. Reduced Reliance on Centralized Exchanges: rETH offers an alternative to staking on centralized exchanges, promoting a more decentralized staking ecosystem. Earning Rewards Without Running a Node: Users can benefit from staking rewards without the technical complexities of running their own validator node. Rocket Pool's essence lies in making Ethereum staking accessible to a broader audience. By offering a low-barrier entry point, decentralized infrastructure, and a liquid staking derivative, Rocket Pool aims to democratize participation in Ethereum's staking economy.

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