Max Fiege is a cybersecurity consultant based out of San Francisco whose previous work for the Block focused on Proof-of-Work energy consumption. Follow him on Twitter @fiege_max
A boom of “picks and shovels” companies catering to Proof-of-Stake cryptocurrencies has emerged as a leading market narrative for 2019. At the center of this burgeoning industry lies the Staking-as-a-Service model, a product of protocols like Tezos, Decred, and Cosmos mandating a minimum threshold amount for asset staking. Like pools aggregate hashrate across miners on Proof-of-Work networks, these companies allow smaller holders to delegate their stake in return for a commensurate share of the block reward.