What is cbETH?
The Complete Guide to cbETH: Coinbase’s Wrapped Staked ETH The Ethereum blockchain will begin a huge transformation with the anticipated merger scheduled for September 2022. This upgrade will shift Ethereum from a power-hungry proof-of-work model to a more efficient and deflationary proof-of-stake model. As part of the preparations for the merger, Coinbase has introduced cbETH, a wrapped cryptocurrency that represents Ethereum 2.0 (ETH2) on its platform. In this comprehensive guide, we will explore what cbETH is, how it works, and its impact on the Ethereum ecosystem. Also read: Ethereum’s Realized Price Touches $1700: Time to Buy ETH? What is cbETH? cbETH is an ERC-20 utility token issued by Coinbase to represent Ethereum 2.0 (ETH2) on its platform. It is a wrapped cryptocurrency , meaning it represents another cryptocurrency that has been “wrapped” or “locked up” in a digital smart contract. In the case of this token, it represents...