Coinbase would rather shut down staking than enable on-chain censorship — Bri...
With a ban on Tornado Cash, many DeFi proponents were worried that crypto exchanges, which are also key validators of Ethereum, would succumb to pressure and impose protocol-level censorship. In light of the recent ban on crypto mixing tool Tornado Cash and the subsequent arrest of the Tornado Cash developer, there has been a growing debate around what crypto services providers would choose between decentralization and censorship in form of compliance.The question has become more prominent as Ethereum (ETH) is moving from its current proof-of-work (PoW) blockchain to a proof-of-stake (PoS)....
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Majority of the DeFi tokens traded in red with several registering double digit losses over the past week. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.This past week, Celsius’s financial troubles mounted further as a new coin report showed the company had a balance gap of $2.85 billion, more than double what it had shown in the bankruptcy filing. Aave (AAVE) called upon community members to commit to the Ethereum proof-of-stake (PoS) Merge.Coinbase CEO said....
Social slashing and even a user-activated soft fork have been suggested as possible responses to the threat of transaction censorship on Ethereum. The Ethereum community has been divided over how to best respond to the threat of protocol-level transaction censorship in the wake of the United States government sanctions on Tornado Cash-linked addresses. Over the last week, Ethereum community members have proposed social slashing or even a user-activated soft fork (UASF) as possible responses to transaction-level censorship on Ethereum, with some calling it a “trap” that will do more harm....
The U.S. exchange plans to roll out support in early 2021. U.S. digital currency exchange Coinbase has outlined plans for supporting Ethereum 2.0 staking rewards — possibly setting the stage for even wider adoption of the smart contract platform. In an official blog post, Coinbase says it plans to roll out Eth2 staking, trading and conversion services starting in early 2021. Once Eth2 is supported, existing Coinbase customers will be able to convert their Ether (ETH) tokens to ETH2 and earn staking rewards. The company said:"While staked ETH2 tokens remain locked on the beacon chain,....
Ethereum staking is the backbone of the new network and users have been earning rewards by staking their ETH ahead of the merge. As time has gone on, rewards for staking have reduced, with the current rewards sitting around 4-5% for stakers. However, crypto exchange Coinbase sees this changing for the better once the merge […]
Brian Armstrong, the CEO of Coinbase, recently hosted a firechat with Reddit CEO Steve Huffman, to discuss the seriousness of the censorship in /r/Bitcoin, a subreddit moderated and curated by Bitcointalk administrator Theymos. The long-lasting feud between Armstrong and Theymos began on June 6, 2015, when Theymos threatened to ban Coinbase and any Coinbase related content from /r/Bitcoin, for promoting a project called Bitcoin XT, a hard fork designed to increase the Bitcoin block size. Theymos says: “If Coinbase promotes XT to customers on coinbase.com and/or switches all of its full....