Coinbase, Blockdaemon, and industry leaders introduce NORS certification for Ethereum node operators

Source: Crypto Briefing

A group of crypto leaders, including Alluvial, Blockdaemon, Chainproof, Coinbase, DV Labs, Eigen Labs, Figment, Galaxy Digital, Nexus Mutual, and others, announced today the launch of the Node Operator Risk Standard (NORS) certification—a new benchmark for operational security and risk management within the Ethereum ecosystem.

“​​The introduction of the Node Operator Risk Standard (NORS) signifies a pivotal advancement for the institutional adoption of Ethereum staking,” Zane Glauber, Head of Blockchain Infrastructure at Galaxy Digital, commented.

The NORS certification is designed to streamline the due diligence process for banks and large institutions, making it easier for them to trust and engage with Ethereum staking services, as noted in the announcement.

According to Evan Weiss, COO at Alluvial, as large financial institutions become increasingly involved in public blockchain networks, having clear security standards is essential to attract them and facilitate the adoption of the technology.

“By setting a robust, verifiable framework for validator risk management, alongside the formal AICPA attestation process familiar from SOC1 and other security standards, institutions will finally be able to evaluate the quality of staking infrastructure on a level playing field,” Weiss noted.

The introduction of the new certification aims to address critical areas such as slash prevention, validator diversity, and secure management of private keys, ensuring a high standard of operational security.

Konstantin Richter, CEO of Blockdaemon, believes NORS will not only advance institutional Ethereum staking but also establish a unified, shared standard for evaluating the risks associated with validators, which benefits both institutions and node operators.

“The NORS certification positions Ethereum staking favorably for wider institutional adoption,” Richter stated.

The NORS certification is expected to provide a robust framework that enhances security, fosters trust, and supports the growth of Ethereum as a trusted asset class for institutional investors.

“Now, it will be much easier for institutions to do true due diligence on staking providers. We’re proud to have participated in the NORS Development Working Group to advance Ethereum staking and expand crypto as a trusted asset class for institutional investors,” said Ben Rodriguez, Senior Protocol Specialist, Coinbase.

Commenting on the launch, Eigen Labs’ Clayton Menzel said NORS will enhance trust and reliability in the entire staking ecosystem, including restaking. Eigen Labs contributed expertise to NORS to ensure that restaking solutions are accurately represented within the certification.

Joshua Faier, Senior Product Manager at Figment, noted that NORS could fill the gap between existing certifications like SOC 2 and ISO 27001, addressing the specific nuances of staking.

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Author: Vivian Nguyen