On December 1, the Ethereum Beacon Chain will launch, beginning a multi-year upgrade to Ethereum 2.0 (ETH2).
Coinbase intends to support ETH2 through staking and trading. Coinbase customers will be able to convert ETH in their Coinbase accounts to ETH2 and earn staking rewards.
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.
We’ll be launching the above features to customers in eligible jurisdictions starting in early 2021. We’ll communicate more details closer to the launch of each feature.
Since Ethereum launched in 2015, a vibrant developer community has developed building various applications such as decentralized lending protocols, decentralized exchanges, games, and many others.
ETH2 intends to solve two of the biggest challenges within blockchain development: limited scalability and high gas prices. Over the course of two years, the Ethereum community plans to increase scale and migrate the current Ethereum chain to the ETH2 chain.
We’re excited for this major milestone for ETH2, and the potential that a final rollout of ETH2 holds for the entire cryptocurrency community.
Ethereum 2.0 staking rewards are coming soon to Coinbase was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.