Blockdaemon has joined the launch of the industry’s “first” Node Operator Risk Standard (NORS) certification for Ethereum (ETH), establishing a new benchmark for operational security and risk management for the Ethereum node operators.
Additionally, Blockdaemon now participates in the NORS Development Working Group, the group that “collaborates in the development, iteration, and maintenance of the standard to keep it relevant and accurate.”
The NORS certification simplifies the “due diligence process for Ethereum staking for banks and large institutions.”
With a KPMG auditor as the first NORS Qualified Assessor, this certification “introduces a third-party verified, trusted framework for secure ETH staking.”
Before the establishment of NORS, no certification “existed to prove that a node operator satisfied institutional security requirements.”
Large institutions seeking to hold and stake ETH “need secure technical service providers. NORS is the first certification ensuring ETH node operators have robust risk mitigations, critical for institutions engaging in staking and providing reliable access to their customers.”
The NORS Certificate distinguishes companies “as trustworthy industry leaders, serving as the seal of approval institutions need.”
This institutional-grade certification for Ethereum aligns “with American Institute of Certified Public Accountants audit standards and meets the expectations of Big Four accounting firms and traditional institutional certifications.”
NORS ensures node operators adhere “to rigorous criteria, including slashing prevention, validator diversity, secure private key management, and overall operational security.”
These standards establish “comprehensive, institutional-grade controls.”
As covered in June of this year, Blockdaemon has introduced its DeFi API.
The Blockdaemon DeFi API reportedly “simplifies DeFi interactions, enhances liquidity management, offers unified asset tools, and caters to B2B2C and institutional needs.”
The Blockdaemon DeFi API is described as being “the complete institutional solution for seamless, secure, and efficient Web3 DeFi services.”
At launch, Blockdaemon’s DeFi API reportedly “supports 21 of the industry’s leading blockchains and over 40 DeFi protocols.”
Their API ensures institutions can “navigate decentralized finance (DeFi) with ease and speed.”
Blockdaemon’s DeFi API allows DeFi users “to perform flexible swaps of native assets on Stargate, a cross-chain liquidity protocol, across different blockchains in a single transaction.”
This integration makes their API the gateway “for accessing Stargate’s community-owned unified liquidity pools. Stargate will be the sole bridge utilized for the Blockdaemon DeFi API.”