The Standard for Ethereum Node Operator Security    ·  

Industry Leaders Launch First-Ever Node Operator Risk Standard (NORS) Certification for Ethereum

NORS Certification To Unlock Ethereum Staking for Major Players, with Big-Four Reporting on Staking Policies

 
Industry Leaders Launch First-Ever Node Operator Risk Standard (NORS) Certification for Ethereum

New York — August 27, 2024 — A collective group of industry leaders, including Alluvial, Aon, Blockdaemon, Chainproof, Coinbase, DV Labs, Eigen Labs, Figment, Galaxy, Nexus Mutual, Staked, and others, today launched the Node Operator Risk Standard (NORS) certification, a first-of-its-kind certification designed for Ethereum node operator risk management. NORS sets a new benchmark for operational security and risk management within the Ethereum ecosystem.

The introduction of NORS Certification makes institutional-grade trust for Ethereum staking achievable, simplifying the due diligence process for banks and large institutions. For the first time, institutions can rely on a trusted, third-party-verified standard, streamlining the process for resilient ETH staking. Prior to the development of NORS, there was no attested certification available to demonstrate that a node operator met institutional requirements for mitigating the specific risks of operating ETH staking nodes.

With attestation reporting from qualified assessors at leading traditional accounting firms, institutions will have the ability to rely on NORS certification when conducting diligence on ETH staking operations. As an enterprise-grade certification, NORS meets the needs of big-four accounting firms and traditional institutional certifications, and aligns with the AICPA audit standards followed by SOC1 and other widely-adopted diligence standards.

“NORS represents a pivotal development for the cryptoasset industry. At a time when large, sophisticated financial institutions are getting seriously involved in public blockchain networks, building security standards that align with institutional expectations is critical for making it easier to onboard and adopt this technology,” said Evan Weiss, COO at Alluvial. “By setting a robust, verifiable framework for validator risk management, alongside the formal AICPA attestation process familiar from SOC 1 and other security standards, institutions will finally be able to evaluate the quality of staking infrastructure on a level playing field."

NORS establishes rigorous, enterprise-grade standards and controls, ensuring node operators adhere to comprehensive criteria covering slashing prevention, validator diversity, responsible private key management, and security. Large institutions seeking to hold and stake ETH, whether for themselves or their clients, need to ensure that the technical service providers they use provide professional-quality technical services. NORS provides this required assurance.

“The development of the Node Operator Risk Standard (NORS) advances the institutional Ethereum staking industry,” said Konstantin Richter, Founder & CEO at Blockdaemon. “Through a common, shared standard of validator risk management, NORS establishes trust amongst banks and large institutions by simplifying due diligence for Ethereum staking. The NORS certification positions Ethereum staking favorably for wider institutional adoption.”

“The launch of NORS marks a significant milestone for the Ethereum staking ecosystem,” said Joseph Xu, Chief Technology Officer at Chainproof. “By creating a framework for validator risk management, NORS simplifies due diligence for banks and large institutions making institutional-grade trust a reality for Ethereum. With this certification, we’re another step closer to onboarding the masses.”

“The launch of NORS is a great step towards long-term institutional growth and adoption,” said Ben Rodriguez, Senior Protocol Specialist, Coinbase. “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.”

“NORS is a critical step towards broader institutional adoption of proof of stake networks,” said Glenn Morgan, Digital Assets Practice Leader for Aon. “Not only will these standards be important for banks and financial institutions who are interested in staking Ethereum, but also for insurers and regulators who want to see evidence of robust risk management frameworks to support the healthy growth of this technology. This certification can help ensure that risks are managed effectively, safeguarding consumers and businesses alike from potential losses and contributing to a more secure and trustworthy Ethereum ecosystem."

“As part of our commitment to enhancing the security and resilience of Ethereum’s staking infrastructure through restaking solutions, Eigen Labs participated in the development of the Node Operator Risk Standard (NORS) to provide expertise in how restaking can be accurately represented within this new professional certification,” said Clayton Menzel, Growth at Eigen Labs. “We believe NORS can represent a benchmark for node operator security and operational excellence, enhancing the trust and reliability of the entire staking ecosystem, including restaking.”

“NORS helps bridge the gap between existing certifications like SOC 2 and ISO 27001, taking into account the many nuances of staking,” said Joshua Faier, Senior Product Manager at Figment. “Having participated as a subject matter expert in the NORS Development Working Group, I am proud that the resulting certification does an effective job assessing a node operator’s design and effectiveness of controls related to staking.”

​​"The introduction of the Node Operator Risk Standard (NORS) signifies a pivotal advancement for the institutional adoption of Ethereum staking,” said Zane Glauber, Head of Blockchain Infrastructure at Galaxy. “By establishing a comprehensive framework for validator risk management, NORS streamlines the due diligence process for banks and large institutions. This certification not only fosters trust but also solidifies Ethereum staking's position as a viable asset class for institutional investors.”

“NORS is another step forward for the wider ETH ecosystem,” said Hugh Karp, Founder at Nexus Mutual. “Not only will it increase credibility and trust by formalizing security and risk management practices for stakers, it's further demonstration that crypto is becoming a fully fledged alternative asset class.”

“Today is an important day for Ethereum staking - aligning on standards for node operators lays a foundation for a more robust and secure Ethereum, said Oisín Kyne, CTO & Co-Founder at DV Labs. “By adopting best practices and secure staking technologies like distributed validators, node operators can more easily prevent key compromise, slashings, and downtime in the future.”

The NORS audit controls are openly accessible, promoting transparency and allowing the community to understand the criteria for meeting the Node Operator Risk Standard. Node operators can achieve NORS certification after receiving a custom attestation report from any NORS-qualified assessor. Leading operators can gain a competitive edge as NORS certification showcases that they have demonstrated their operational adherence to enterprise-grade risk mitigation standards.

By providing a clear, objective, and measurable standard for node operators, NORS will help create a more robust and secure Ethereum.

Visit nors.global for more information about the Node Operator Risk Standard (NORS) certification and how to get involved.



About NORS

The NORS certification encourages the promotion and adoption of resilient, secure, and transparent validation practices by establishing clear, objective, and measurable standards for professional node operators. nors.global

About Liquid Collective

Liquid Collective is the trusted and secure staking standard: designed to meet the needs of enterprises, built and supported by a broad and dispersed collective of industry leaders. https://liquidcollective.io/