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What is Rocket Pool (RPL)?

The decentralised cryptocurrency platform Rocket Pool (RPL) seeks to offer a decentralised network for staking Ethereum. It intends to alleviate the difficulties associated with staking on the Ethereum network, including the high minimum stake requirements and the scarcity of liquid funds for staking.

The History of Rocket Pool

The origins of Rocket Pool can be found in the community effort that David Rugendyke started in 2016 with the aim of building a decentralised Ethereum staking infrastructure. An effective Initial Coin Offering (ICO) for the project raised money and helped it gain traction in 2017. The platform has since been developed, and the Rocket Pool team has been striving to draw users and validators to the network.

The Use Case of Rocket Pool

The purpose of Rocket Pool is to offer a decentralised platform for Ethereum staking, enabling users to stake their Ether (ETH) and get incentives for protecting the Ethereum network. It seeks to offer a user-friendly and decentralised substitute for conventional Ethereum staking, which frequently needs a sizable amount of Ether to meet the minimal conditions for staking.

By pooling their Ether with other users using Rocket Pool, users can create a decentralised network of validators that jointly stake the pooled Ether. This enables users with less Ether to take part in Ethereum staking and receive benefits in line with their stake. As an alternative to traditional staking, Rocket Pool also offers a liquid staking solution that enables users to trade their staked Ether (rETH) on decentralised markets.