Okex, Coinbase, and Huobi exchange will support Ethererum 2.0 staking and trading

Okex, Coinbase, and Huobi exchange have outlined plans for supporting Ethereum 2.0 staking rewards — possibly setting the stage for even wider adoption of the smart contract platform.

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 ETH tokens 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.” The company’s blog said.

Ethereum 2.0 or Eth2 is a major upgrade to the current Ethereum public mainnet, designed to accelerate Ethereum’s usage and adoption by improving its performance. The launch of Ethereum 2.0 is especially significant compared to past upgrades because of the implementation of a Proof of Stake (POS) consensus mechanism, moving the network away from its existing Proof of Work architecture.

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