Coinbase, a cryptocurrency exchange based in the US, will soon feature Ethereum 2.0 staking rewards.
The exchange is hoping the ETH ecosystem will shift into gear quickly and deliver on much-needed improvements consumers have been asking for.
In an official blog post, the exchange said that it will roll out ETH2 staking, conversion services and trading early in 2021 without committing to a specific timeline.
Once this process is complete, all consumers who hold Ether will be able to convert it into ETH2 and earn rewards. Here is what an official statement from the blog read:
“While staked ETH2 tokens remain locked on the beacon chain, Coinbase will also enable trading between ETH2, ETH, and all other supported currencies providing liquidity for our customers.”
Thanks to the new upgrade, Ethereum will transition from a proof-of-work type of system to proof-of-stake, making for much easier and flawless transactions.
Proof-of-stake removes the risk of centralization if not completely, then at least reducing it, and it also boosts the overall security of the system.
Ethereum has an important transition to make as it's currently the second-largest crypto currency out there with high degree of liquidity.
The transference towards an improved protocol is an important stepping-stone for the currency's future success.
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