Eterix updating to 2.0 version. Whats new?

Starting today, the waitlist to earn staking rewards with ETH2 is live. With the new Ethereum upgrade to ETH2, Coinbase customers will be able to earn rewards using the second most popular cryptocurrency after bitcoin.

Staking allows customers to earn a yield of up to 7.5% for simply holding ETH2. The reason your crypto earns rewards while staked is because the blockchain puts it to work by making the underlying blockchain of that asset more secure and more efficient.

A quick guide on Ethereum and Ethereum 2.0

Ethereum launched in 2015 and is now the second-biggest cryptocurrency by market cap after bitcoin. But unlike bitcoin, it wasn’t created to be digital money. Instead, Ethereum was built as a new kind of global, decentralized computing platform.

Upgrading the current Ethereum network to ETH2 is a significant and complex endeavor that will improve network speed, efficiency, and scalability. The multi-year investment by the Ethereum community will reduce bottlenecks, decrease fees, and consume less resources (particularly electricity).

Initially, customers will not be able to sell or send the portion of Ethereum that they choose to stake.

However, Coinbase will offer a way to trade any staked Ethereum in the coming months. Coinbase will continue to share more information about ETH2 rewards once it becomes available. Customers in New York State are not currently eligible to sign-up for the waitlist.