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Blockdaemon Documentation

How to Stake ETH (Ethereum)

While Bitcoin introduced the world’s first provably sound digital currency, Ethereum pioneered the world’s first programmable blockchain. For the first time, this enabled developers to build their own custom blockchain logic for how users transact both the native token (ETH) and user-generated assets.

Now, Ethereum is transitioning to an innovative Proof of Stake consensus mechanism. This is known as Ethereum 2.0 or the Consensus layer and represents the next phase of Ethereum’s evolution. You can become part of this blockchain evolution by staking your ETH with Blockdaemon.

To stake your ETH with Blockdaemon, submit your details here.

Staking ETH isn’t as straightforward as some protocols, but we’ll make it easy for you. To give you an idea of what to expect, the ETH staking process follows these steps:

  1. Set Up a Withdrawal Address
  2. Share Your Public Address with Blockdaemon
  3. Blockdaemon Launches Your Public Validator(s)
  4. Blockdaemon Provides You Transaction Data
  5. Fund Your Validator(s) with an Ethereum Transaction
  6. Your Validators will Join the Activation Queue

Step 1 – Set Up a Withdrawal Address

Blockdaemon will need the public address of an Ethereum 1 or Ethereum 2 (BLS) account that will hold the necessary ETH and fund your validator(s).

  • Note: Validators are staked in increments of 32 ETH
    • For 64 ETH you would need two validators; 96 ETH would require 3 validators, and so on.
  • Note: You do not need a unique address to fund each validator. A single address is enough, providing it holds sufficient ETH.

Step 2 – Share Your Public Address with Blockdaemon

You (or your custodian) will need to share the withdrawal address (mentioned above) with Blockdaemon.

  • Note: Never share any private keys.

Step 3 – Blockdaemon Launches Your Public Validator(s)

Let Blockdaemon know the number of validators you would like to set up.

  • Blockdaemon will acknowledge receipt of this information and schedule set up of your validator(s).
    • If there are any errors (incomplete keys, etc…), we will respond so you know what is missing or appears to be incorrect.
  • Blockdaemon will generate the validating keys for the desired amount of validators and begin launching the validators.
  • Blockdaemon has optimized for launching large amounts of validators on-demand, so these steps are automated where appropriate:
    1. Blockdaemon creates a BLS12-381 private key and generates addresses conformant to EIP2333 and EIP 2334.
      • These are Validating Keys. These keys cannot spend any funds on the validator. This key is used to sign blocks for validating and will be used to trigger an exit from staking.
    2. Blockdaemon uses the Validating Keys to generate the data that will be needed to generate the transaction to fund these validators:
      • pubkey – The public key of the created validator.
      • withdrawal_credentials – A SHA256 hash of the withdrawal address (which you or your custodian created) with the first byte replaced with 0x00
      • signature – A signature by pubkey to prove this key exists.
      • deposit_data_root – A Merkle root of the other fields to ensure they were generated correctly.
  • All validators will be uploaded into your organization’s online portal where you’ll have access to a dedicated ETH Staking Dashboard. Here you’ll be able easily to review your portfolio performance on 1000s of validators:
    • Gain insight on the status of your individual validators
    • See portfolio balance by principal and reward amounts
    • Easily identify your top 5 Validators by total rewards


Step 4 – Blockdaemon Provides You Transaction Data

For each withdrawal key shared with us, we will share the four data points exposed in the previous section; pubkey, withdrawal_credentials, signature and deposit_data_root

  • As an individual user self-custody, we will arrange for the transaction data to be shared with you in your preferred manner.
    • By default, Blockdaemon generates JSON responses containing this data. This can then be adapted as required.
  • If you are using a custodian or wallet with Blockdaemon integration, our team will upload the deposit data through the custodian’s API. You can then sign.

Step 5 – Fund Your Validator(s) with an Ethereum Transaction

For each withdrawal address, you will need to send 32 Ether from the Ethereum blockchain to the contract address.

  • Your transaction will call the deposit function on the Ethereum 2 deposit contract.
  • This contract is on the Ethereum blockchain at
     0x00000000219ab540356cBB839Cbe05303d7705Fa
  • As an individual self-custody user, you will need to create an Ethereum transaction to fund the validator.
  • This process may be handled for you automatically by a custodian if you are using one, in which case you may not have any steps further to complete.
    • Please refer to any documentation they provide, as this will involve sending 32 ETH from your Ethereum account to fund the validator and enter it into the queue for staking.

Step 6 – Your Validators will Join the Activation Queue

All actions you need to take have now been completed.

  • The Ethereum transaction will need to be 2048 blocks deep (approximately 8 hours realtime) on the Ethereum blockchain, at which time the beacon will acknowledge the deposit
  • The validator will then enter the activation queue to begin staking.
  • Note: The activation queue time may vary and can take a few weeks.

To stake your ETH with Blockdaemon, submit your details here.

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