Coinbase Custody expands Tezos staking service to all global clients

Coinbase Custody, the cryptocurrency exchange’s storage unit, has expanded its Tezos (XTZ) staking service to all global clients.

Announced Thursday, Coinbase Custody said it is transitioning to an internationally-based staking service, where all of its global clients can have access to the service.

Initially only available for institutional clients, the staking service was recently extended to all U.S. customers of Coinbase Custody and now it has been made available to all investors globally.

Coinbase Custody currently allows staking for only Tezos (XTZ) cryptocurrency, offering rewards of around 5%. It first launched the service in late April. In July, The Block reported that the firm had generated an estimated revenue of $7,580-$8,324 from Tezos rewards during its first two months in operation.

Looking ahead, Coinbase Custody is said to be launching staking service for more cryptocurrencies and blockchain networks that utilize proof-of-stake systems.

CloudStack CLSK Token

CloudStack (CLSK) token has been designed based on ERC20 standard set aside by ETHEREUM cryptocurrency community. CLSK Token were developed with a staking capability based on certain criteria.

This way everyone who own a minimum 600 CLSK on their COINBASE cryptocurrency wallet will get their reward paid via generated token upon staking maturity. Based on the design, staking maturity will be once every 6 days upon the quantity of token hold.

CloudStaking is the process your wallet interact with cloudstaking management server for uses to validate transactions and award you with tokens. When your wallet is staking, the cloudstaking management server will checking transactions to make sure everyone who sends tokens actually owned those tokens and had the right to transfer them. If most of the wallets online agree and the cloudstaking management server acknowledge that a transaction is valid, then it gets accepted by the network.

Token age is the age of your tokens. Imagine you get a new wallet and start out with zero tokens. On Monday, your friend sends you 5,000 tokens. On Wednesday, you decide to buy 10,000 more tokens and deposit them to your wallet. Assuming it’s Thursday, you’ll have two groups of tokens. The first group of 5,000 has 3 days of token age, and the second group of 10,000 tokens has 1 day of token age. When tokens are sent to another address or successfully stake (generate reward), their token age is reset to 0.

You can send CLSK token to everyone who own a verified standard ERC20 wallet with a simple action, just need the recepient ERC20 certified wallet address.

No matter where they lives, it will be a matter of minutes before the token arrived on their wallet with little cost/fees.

This will bring a fast and efficient method for a future International cross-border fund transfer.

https://thecloudstack.org/?u=PIERRE