Ethereum is a smart contract platform that enables developers to build tokens and decentralized applications (dapps). ETH is the native currency for the Ethereum platform and also works as the transaction fees to miners on the Ethereum network. Ethereum is the pioneer for blockchain based smart contracts.
Binance’s U.S. subsidiary found the right time to launch its ETH staking service: just as The Merge is coming.
- Binance.US lanza staking de ETH.
- Expands its cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. offering for staking.
- The Merge is on its way.
Binance.US the U.S. branch of cryptocurrency exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Binance announced Wednesday a new service of staking participation in a proof-of-stake (PoS) system to put your tokens in to serve as a validator to the blockchain and receive rewards. for Ethereum a decentralized open-source blockchain with smart contracts functionality. (ETH). The launch comes amidst expectations for the imminent arrival ofThe Mergean upgrade that will see the blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. Ethereum switch from proof of work (PoW) to proof of participation (PoS).
The U.S.-based platform a place to buy, sell and store cryptocurrency presented the service to its customers in a post on their official blog which was shared on Twitter . According to the statement, users of Binance.US will now be able to place their ETH coins in staking (stake or wager) with an initial annual percentage yield (APY) of 6%.
Introducing ETH #Staking
Grow your portfolio a collection of cryptocurrencies or crypto assets held by an investment company, hedge fund, financial institution or individual. while you wait for Ethereum Proof-of-Stake poS is a type of consensus algorithm that rewards validators according to the amount of crypto they have staked. upgrade to launch.
– Binance.US ???????? (@BinanceUS) September 7, 2022
It should be noted that staking is the act of locking up digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets in the form of deposits to support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. the operation of proof-of-stake networks in exchange for a reward. Customers of the exchange will be able to wager a minimum of 0.001 ETH or about USD $1.53 at the time of publishing, in exchange for generating returns in the currency.
The offer comes in the midst of transition of Ethereum to PoS. The first phase of the upgrade took place this week, Bellatrix . The event is expected to The Merge will take place on the main network a network refers to all nodes in the operation of a blockchain at any given moment in time. between September 13 and 15. The executive director of Binance.US Brian Shroder, made mention of this long-awaited event in the press release:
ETH plays a pivotal role in the broader Web3 ecosystem, and as the Ethereum network continues to transition to The Merge, we are thrilled to now offer ETH staking with some of the highest APY rewards in the industry.
Timing of the new service
Binance.US is expanding its services of staking with the incorporation ofEther the form of payment used in the operation of the distribution application platform, Ethereum.. In June this year, the exchange first introduced its customers to participation services for a total of seven cryptocurrencies, including Solana (SOL), Avalanche (AVAX) y Binance Coin a coin can refer to a cryptocurrency that can operate independently or to a single unit of such cryptocurrency. (BNB). At that time the company dijo that would expand your options in the future.
With the move, the platform is catching up with competitors as it approachesThe Merge. Other major rivals in the U.S., such as Coinbase is an American company that operates a cryptocurrency exchange platform. y Gemini already offer crypto-investor services to staking de ETH.
Expectations for the transition of Ethereum PoS has recently boosted the cryptocurrency market. In mid-July, announcements about the upgrade’s progress pushed the price of ETH above USD $1,900. The coin has since declined amid a broader downtrend in the cryptomarket.
Nonetheless, many analysts have agreed thatThe Merge is widely perceived as a bullish catalyst. both forEtheras for the rest of the market. These expectations have led to an increase in demand for ETH-linked products in recent months. CME announced recently a new product derived fromEtherand the bank’s experts JPMorgan have already anticipated that the services of staking could generate higher profits to the exchanges as the update approaches.
Binance.US is not alone in seeing an opportunity in this field. The Swiss bank SEBA also announced today the launch of its ETH participation service. designed for institutional clients.
- “The Merge impulsará a Ethereum tanto como un Halving an event in which the total rewards per confirmed block halves. lo hace con Bitcoin”, asegura Arthur Hayes
- IIA? Cloud cloud servers are typically located throughout different data centers all over the world. Computing? Ethereum miners contributors to a blockchain taking part in the process of mining. They can be professional miners or organizations with large-scale operations, or hobbyists who set up mining rigs at home or in the office. look to other projects ahead of The Merge’s imminent arrival
- Binance to support Ethereum forked tokens post-The Merge
Article by Hannah Estefania Perez / DiarioBitcoin
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