- This topic has 1 reply, 2 voices, and was last updated 2 months ago by stefa2k.
- Sunday, July 24th, 2022 at 10:29 #344090Ok-Engineering1873Participant
I’m trying to get a basic understanding of how pool staking works, as I want to get a clear picture of any risks.
How accurate is this:
When anyone delegates ETH to any staking pool, is all of this ETH sent to the same smart contract address? Are the delegators given a token e.g. ETH\_staked\_token to represent their share of the ETH stored in the smart contract? They would then use this ETH\_staked\_token when they want to take their ETH out of the smart contract?
The pool/node operators have no “physical” access to the delegators ETH? The ETH is just assigned to them, without giving them direct access?
What are the risks for delegators? ETH staking smart contract hack for example? Presumably this is the only risk, assuming the ETH\_staked\_token is a thing and it’s stored safely e.g. on a ledger device.Sunday, July 24th, 2022 at 10:29 #344091stefa2k
You get an IOU and a promise of the pool to act in your interest. In exchange for your Ether. If you can, run your own node. Check out r/ethstaker for pools, guides.
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