Nikolaj Rosenthal, the CEO of Myrmidon, a non-custodial staking provider, recently sat down for an interview with Cryptonews Podcast host Matt Zahab. In the interview, Rosenthal discussed his transition from being a professional ice hockey player to a crypto entrepreneur, his decision to accept Bitcoin as salary in 2017, the establishment of Myrmidon as a staking-as-a-service provider, and the future plans of the company.
Rosenthal explained that he didn’t want to struggle with identity loss after retiring from sports, so he started exploring other career options early on. He mentioned that while being a professional hockey player in the US, Canada, or Europe can be lucrative, making money post-retirement is challenging. Therefore, he decided to study and earn degrees from the Copenhagen Business School and got introduced to the crypto world through Danish Bitcoin entrepreneur Niklas Nikolajsen.
Regarding Ethereum, Rosenthal stated that it is still the biggest Layer 1 chain and the one to beat. Although there are competing layer-1 blockchains like Solana, Avalanche, and Cardano, Ethereum remains the dominant player in the market. He mentioned that Ethereum has undergone major upgrades since his last interview in 2021, and despite some negative narratives, it continues to follow historical patterns of being criticized while Bitcoin gains momentum.
When discussing the implications of Ethereum ETFs, Rosenthal acknowledged their potential benefits for adoption but highlighted that they go against the fundamental ethos of crypto. He argued that crypto was created to give individuals full control and custody over their assets, which ETFs do not provide. He emphasized that owning the underlying asset is what truly matters, and Myrmidon ensures true coin ownership through its non-custodial solution, the Ethereum Staking Dashboard.
Rosenthal also delved into the four categories of staking: solo home staking, staking-as-a-service, pooled staking, and centralized staking. He explained that these categories vary in terms of decentralization, difficulty, security, and rewards. Solo home staking is the most decentralized, secure, and rewarding but requires extensive knowledge and work. Staking-as-a-service, like Myrmidon, offers a decentralized solution that is not as difficult as solo home staking. Pooled staking is popular and convenient but carries smart contract risk and centralization issues. Centralized staking is the easiest but riskiest option, as stakers give up control over their assets and earn lower yields.
In terms of future plans, Rosenthal revealed that Myrmidon is primarily focused on Ethereum but has also launched support for Cardano and Concordium. He mentioned that the company is planning to support additional chains and urged viewers to check their website for updates. He emphasized that Myrmidon will only launch new chains once it has customers on them to avoid wasting time and effort. The company is also focused on maintaining security by setting up a second server on a different energy grid.
In conclusion, Rosenthal expressed his excitement about the current market and the progress of Myrmidon. He believes that these are great times for the crypto industry and looks forward to what the future holds.