Binance’s official digital currency wallet app Trust Wallet has added staking for cryptocurrencies. the event was proclaimed by Binance on a blog post on 3rd April.0
The staking feature — that is regular to be launched by Binance by the end of the second quarter of 2019 — allows users to earn dividends or interest on their investment for confirmative transactions and permits them to vote on changes within the blockchain. Staking rewards are a byproduct of the proof-of-stake (PoS) consensus algorithm.
Launching the staking feature can supposedly let Trust Wallet support proof-of-stake cryptocurrencies. in addition, Trust Wallet added support for Tezos (XTZ) and is getting to embrace support for staking within theTezos on-chain governance mechanism.
In late March, Coinbase Custody, that provides storage facilities for institutional investors, disclosed that it is seeking to expand its suite of services to incorporate staking of Tezos. Through its offline storage service, investors are going to be ready to participate in networks like Tezos using Coinbase as a regulated intermediary.
As recently the report reported, XTZ had been one amongst the strongest altcoins within the few days before 30th March, as its worth had been buoyed by some fundamental events. The community control ballot on the protocol proposal that may decide the upgrade of Tezos and the proposal is now entering an Exploration Vote Period.