Coinbase introduces wrapped staked ETH asset ahead of the Merge
“Our hope is that cbETH will achieve robust adoption for trade, transfer, and use in DeFi applications,” said the crypto exchange. Coinbase has launched a new asset in which Ether tokens are staked and wrapped through the crypto exchange.In a Wednesday announcement, Coinbase said it will be listing Coinbase Wrapped Staked ETH (cbETH) on the Ethereum network as an ERC-20 token, allowing customers to use their staked Ether (ETH) while earning rewards on the exchange. According to its website, users can withdraw the tokens to Coinbase, stake them, and then wrap the ETH2 into cbETH, with the....
Related News
The cryptocurrency exchange Coinbase has introduced a new liquid staking ethereum derivative token ahead of Ethereum’s proof-of-stake (PoS) upgrade. The new ERC20 utility token is called coinbase wrapped ethereum, or CBETH, and it will allow people to stake their ether in a non-custodial fashion or trade the tokens on the open market.
Coinbase Reveals CBETH Liquid Staking Solution
On August 24, Coinbase Global (Nasdaq: COIN) announced the launch of a new ERC20 token called coinbase wrapped ethereum (CBETH) roughly two weeks before the highly anticipated Ethereum upgrade....
“Should an ETH PoW fork arise following The Merge, this asset will be reviewed with the same rigor as any other asset that is listed on our exchange,” said Coinbase. Cryptocurrency exchange Coinbase has updated its information related to Ethereum transitioning to proof-of-stake to include forks that could arise.In a Thursday update to an Aug. 16 blog post, Coinbase said it would evaluate any potential forks in the Ethereum blockchain on a “case by case basis.” The crypto exchange previously said it planned to 'briefly pause' Ether (ETH) and ERC-20 token deposits and withdrawals during the....
“Should an ETH PoW fork arise following The Merge, this asset will be reviewed with the same rigor as any other asset that is listed on our exchange,” said Coinbase. Cryptocurrency exchange Coinbase has updated its information related to Ethereum transitioning to proof-of-stake to include forks that could arise.In a Thursday update to an Aug. 16 blog post, Coinbase said it would evaluate any potential forks in the Ethereum blockchain on a “case by case basis.” The crypto exchange previously said it planned to 'briefly pause' Ether (ETH) and ERC-20 token deposits and withdrawals during the....
New report by Nansen delves into the distribution of staked ETH, respective holders and possible ramifications as The Merge looms. A report from blockchain analytics platform Nansen highlights five entities that hold 64% of staked Ether (ETH) ahead of Ethereum’s highly anticipated Merge with the Beacon chain.Ethereum’s shift from proof-of-work to proof-of-stake is set to take place in the coming days after final updates and shadow forks were completed in early September. The key component of The Merge sees miners no longer used as validators, replaced by stakers that commit ETH to maintain....
Ethereum was formerly developed as a PoW blockchain. However, it’s been planning to transition to PoS through an upgrade tagged the merge. The process, which has different phases, is almost getting to completion as the date for the merge draws closer. The target is September 15 and would finally merge the Ethereum mainnet and the […]