- The next update, Shanghai Fork, is scheduled for March.
- “We believe Shanghai Fork can open a new era of staking for Coinbase (NASDAQ:),” says JPMorgan.
- Depositors will be able to transact and earn rewards in the newly created Ethereum.
According to analysts at JP Morgan, Coinbase – the cryptocurrency exchange – will be looking forward to a favorable future after the latest update. The Ethereum network is preparing to publish its latest update, the Shanghai Fork, in March.
In a recent tweet, JPMorgan was quoted by an online media outlet as saying: “Shanghai update could brighten Coinbase prospects.” After the Ethereum beacon chain, the latest update of the Ethereum network is called Shanghai Fork, which is said to be released in March. The Shanghai Fork will allow people to access funds (previously allocated to the Ethereum beacon chain) to allow depositors to participate in transaction verification and earn newly created Ethereum as rewards.
According to reports, analysts write that staking in Ethereum has forced holders to lock in Ether indefinitely, which has historically been seen as a major disincentive to participation in ETH. Analysts at JP Morgan hailed the upcoming Ethereum update, saying:
We believe Shanghai Fork can usher in a new era…
The post “Shanghai Fork, A New Era Of Staking For Coinbase” says JP Morgan debuted its Coin Edition.