U.S. digital foreign money alternate Coinbase has outlined plans for supporting Ethereum 2.0 staking rewards — probably setting the stage for even wider adoption of the sensible contract platform.
In an official weblog put up, Coinbase says it plans to roll out Eth2 staking, buying and selling and conversion providers beginning in early 2021. As soon as Eth2 is supported, current Coinbase prospects will be capable of convert their Ether (ETH) tokens to ETH2 and earn staking rewards.
The corporate stated:
“Whereas staked ETH2 tokens stay locked on the beacon chain, Coinbase may also allow buying and selling between ETH2, ETH, and all different supported currencies offering liquidity for our prospects.”
Coinbase stated it’s going to “talk extra particulars nearer to the launch of every function.”
The information comes on the eve of the extremely anticipated Ethereum Beacon Chain launch, which kicks off a multiyear improve of the blockchain community. The improve will transition Ethereum away from its current proof-of-work consensus to a proof-of-stake community. Ethereum’s improvement crew claims that proof-of-stake reduces centralization dangers and permits for a stronger protection towards 51% assaults.
This story remains to be in improvement.