Kiln, a crypto startup that gives users prizes for securing the Ethereum blockchain, acquired 17 million euros ($17.6 million) in a Series A fundraising round from a group of financiers that includes cryptocurrency accelerator Consensys, investment company GSR, and cryptocurrency exchange Kraken’s venture-capital arm. Kiln to Expand Staking According to a news announcement on Monday, the Paris-based startup intends to utilize the cash to increase the scope of its staking-as-a-service solutions. Staking is the process of temporarily securing a coin on a proof-of-stake blockchain, such as Ethereum, in exchange for a portion of the revenue generated by transaction verification. In The post Ethereum Staking-as-a-Service Startup Kiln Acquires $17.6M appeared first on Cryptoknowmics-Crypto News and Media Platform .
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