Coinbase will add support for Ethereum 2.0 staking

  • Coinbase will add new functionality for ETH2 in early 2021

  • The exact date and size of the staking reward remains unknown

  • The number of nodes in the Ethereum network has already exceeded the size in the bitcoin network

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American cryptocurrency exchange intends to add support for staking and trading native tokens of the Ethereum 2.0 project

Coinbase, a US regulated cryptocurrency exchange, plans to add support for staking Ethereum 2.0 (ETH2) project tokens, as well as allow them to be exchanged for version 1.0 coins. The exchange announced this in its official blog..

“The rollout of ETH2 is a very important milestone for the project and for the entire cryptocurrency community,” the exchange said..

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Support for the new functionality is expected to be added in early 2021. It is not yet known whether the exchange will charge commissions, and what the reward will be.

While the actual ETH2 tokens will be locked on the Beacon Chain to ensure a safe transition to the new ecosystem, Coinbase will also allow ETH2 to be exchanged for ETH and other cryptocurrencies. Together with Coinbase, crypto exchange Huobi announced support for ETH2 staking.

The beginning of a new era

On Tuesday, December 1, the launch of the zero phase of ETH 2.0 will take place. Meanwhile, the number of nodes in the Ethereum network has already shown a sharp increase, exceeding the number of nodes in the blockchain of the world’s first cryptocurrency – Bitcoin (BTC). At the time of this writing, 11,270 nodes have been recorded on the Ethereum network. Bitcoin has 11,203 nodes.

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Coinbase will add support for Ethereum 2.0 staking

Despite the fact that the process of launching the Ethereum 2.0 network can last for years, the Ethereum 2.0 network has already managed to become one of the largest in the Proof-of-Stake (PoS) format. Even before the transition to the mainnet stage, Beacon Chain had already become one of the largest PoS blockchain networks. At the moment, the deposit contract contains over 800 thousand coins worth more than half a million dollars.

The required minimum to launch the zero phase is 524,288 ETH (~ $ 320.8 million). At the time of writing, ETH / USDT is trading at $ 612.

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