Users of Ethereum (ETH) can now stake any quantity of native ether thanks to Coinbase Cloud and the blockchain infrastructure provider Kiln. The new offering does away with the prior minimum staking requirement of 32 ETH.
Staking for All: Kiln and Coinbase Cloud Remove Minimum Barriers
Partial ETH staking is now possible for Coinbase Cloud and its users thanks to the inclusion of Kiln's onchain staking technology. As a result, wallet service providers like Coinbase Wallet can offer users the chance to earn staking rewards without requiring them to meet any minimum requirements. According to the news release, more than 99 percent of ether wallets don't contain the 32 ETH needed to stake on the network.
"We are thrilled to have worked with Coinbase Cloud and to welcome them as the first (non-Kiln) node operator leveraging the Kiln Onchain Staking Platform," stated Laszlo Szabo, CEO of Kiln. The CEO of Kiln added:
This connection with Coinbase Cloud is special because it enables them to provide [decentralized exchanges] and other wallets and services with the same limitless [ether] staking option that Coinbase Wallet will be able to provide.
The existing staking infrastructure of Coinbase Cloud is built upon for partial ETH staking. According to the corporation, its multi-cloud, multi-region structure offers dependability in addition to well-known security protocols. Coinbase also reveals that through certified smart contracts, staking actions take place transparently onchain.
According to Coinbase, staking minimums should be eliminated so that more individual users may take part in protecting the Ethereum network and collecting rewards. The action is being taken as staked ETH ratios keep increasing following Ethereum's most recent upgrade. This brand-new open staking access is currently available through Coinbase Cloud, starting with integration in Coinbase Wallet.
What do you think about the announcement from Coinbase and Kiln?