DeFi

Coinbase Cloud integrates Kiln platform for native ETH staking below 32 ETH

Published

3 months ago

September 11, 2023

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• September 11, 2023, 11:59AM EDT

The cloud division of crypto exchange Coinbase has integrated an on-chain staking protocol called Kiln to provide native ETH staking below the standard minimum requirement.

Conventionally, native ETH staking necessitates a minimum of 32 ETH ($51,000) to establish a single network validator, a condition that is prohibitive for many interested participants. Coinbase Cloud‘s integration with Kiln will allow crypto users to stake smaller amounts in a non-custodial fashion, allowing them to maintain control of their funds directly from wallets.

Utilizing specialized smart contracts, Kiln offers a flexible approach to ETH staking. It permits pooling stakes to collectively reach the 32 ETH minimum, serving as an alternative to similar flexible staking options found in liquid staking protocols like Lido and Rocket.

“We are thrilled to have worked with Coinbase Cloud and to welcome them as the first (non-Kiln) node operator leveraging the Kiln on-chain staking platform,” said Laszlo Szabo, CEO and co-founder at Kiln.

Coinbase Wallet to debut service

In the coming weeks, Coinbase’s wallet will become the first to implement this staking solution with the goal of making ETH staking more accessible, according to Coinbase Cloud.

This means that Coinbase Wallet users will have the ability to stake and earn rewards on ETH holdings regardless of the amount. Coinbase Cloud confirmed that this capability will be extended to both dapps and other self-custodial wallet providers.

“This integration with Coinbase Cloud is unique because it allows them to enable other wallets and services, including DEXs, with the same limitless ETH staking solution that will be offered by Coinbase wallet,” Laszlo Szabo added.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CoinReporter.io and EUReporter.co does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Bitcoin

Sunmoney Solar Group Embraces the Future with Blockchain and AI at Dubai Event

Published

4 days ago

November 28, 2023

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The recent Tech Synergy Conference in Dubai saw tech aficionados, thought leaders, and disruptors converge to explore the evolving landscape of blockchain paired with other emerging technologies. A captivating discussion was led by Zoltan Rendes, Sunmoney Solar Group’s Marketing Chief, shedding light on how advanced tech is revolutionizing the green energy sector.

Rendes shared his excitement about the conference’s broad spectrum, covering both blockchain and artificial intelligence. This broad perspective mirrors Sunmoney’s approach, which seamlessly merges both fields. “Having a decade-long presence in Dubai, we’re always on the lookout for market nuances. This gathering provides a rich tapestry of insights into blockchain’s potential avenues,” shared Rendes.

With a commendable legacy, Sunmoney embarked on a mission ten years ago to cultivate a collaborative solar energy initiative. Today, it’s a global behemoth with a clientele spanning 60+ countries and nearing 50,000 in number. The company’s ethos is both clear and pioneering: erect solar installations, facilitate stake purchases, oversee maintenance, trade electricity, and proportionately disburse earnings to stakeholders.

The transformative moment was Sunmoney’s foray into blockchain integration last year. “We’ve embarked on a novel journey where solar installation stakes are represented by digital tokens. Patrons acquire these tokens, with the rest of the process retaining its originality. We trade the electricity and relay earnings in digital currency via the renowned Binance platform,” elucidated Rendes.

Yet, Sunmoney’s vision is expansive. They’re orchestrating growth for their ‘Digital Sun Token series’. While the foundation of these tokens remains solar-centric, Rendes envisions a more holistic approach. “Our current token iteration, DST3, is branching into zero-emission agricultural waste solutions. We’re scouting for sustainable avenues to digitize, resonating with our ethos – ‘Eco-profitability’,” he highlighted.

Rendes was vocal about their affinity for the Binance digital platform, citing its robustness, technological finesse, and industry stature.

The interview underscored the immense potential of blending tech with sustainable imperatives. As the digital realm burgeons and intertwines with multifaceted sectors, torchbearers like Sunmoney Solar Group exemplify how profitable endeavours can concurrently sculpt a greener future.