Coinbase Custody to Support Secure Cardano Staking This Year
Cardano users will be able to securely stake their ADA tokens from inside Coinbase's cold storage.
Jul 3, 2020 at 2:06 p.m. UTCUpdated Aug 19, 2021 at 2:55 a.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindeskuat/UDALJDYECZGP3EE5ALWSPCVCKM.jpg)
Cardano holders will soon be able to stake tokens securely at Coinbase Custody.
- At the Cardano Virtual Summit Friday, chief developer house IOHK announced it had signed an agreement with Coinbase Custody.
- From Q4 2020, users will be able to stake their ADA tokens from inside Coinbase's cold storage.
- In proof-of-stake blockchains like Cardano, blocks are verified by token holders (rather than miners as with blockchains like Bitcoin), who receive rewards in return.
- Cardano's staking protocol, Shelley, is expected to come online later this month with staking rewards beginning in mid-August.
- Sam McIngvale, Coinbase Custody's head of product, said the regulated product would help projects, like Cardano, find more mainstream acceptance.
- Tezos inked a similar staking agreement with Coinbase Custody in November 2019.
STORY CONTINUES BELOW
13:18
Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
05:10
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
04:07
The first video of the year 2024
40:07
The last regression video of the year 3.67.0
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)