Coinbase, a United States-based cryptocurrency exchange and wallet service announcing today that it has expanded access for staking the cryptocurrency Tezos (XTZ).
On November 6, Coinbase introducing staking rewards for all Tezos holders on Coinbase, so that each eligible U.S. customer can earn interest on their XTZ holdings for depositing and holding the token on the platform.
Return For Tezos Staking Is Around 5%
Staking lets user earn income from the crypto by participating in the network of a particular asset. When users stake thier crypto, they will make the underlying blockchain of that asset more secure and more efficient. Users will get reward with more assets from the network as exchange
All Tezos holders will be eligible to claim their staking rewards, which are set to be around 5%. The rewards will be handed out every three days, which is the approximate time of a cycle in the Tezos network.
Proof of stake is a consensus protocol that was originally designed by Vitalik Buterin, the creator of the Ethereum network. Instead of mining tokens like in the Bitcoin network, people who use proof of stake methods simply use their own funds to validate the network and receive small rewards.
Tezos (XTZ) Market.
Photo Credit : Mashable, CoinMarketCap, Builtin.com
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