Coinbase has temporarily halted payouts of ETH staking rewards. The company said in a blog post that the issue is due to a “minor technical issue” and that it is working to resolve it as soon as possible.
Coinbase users who have staked ETH will still earn rewards during the outage, but they will not be able to withdraw them until the issue is fixed. The company said that it expects the issue to be resolved within 48-72 hours.
The outage comes at a time when interest in ETH staking is growing. The Ethereum network is currently in the process of transitioning to a proof-of-stake consensus mechanism, which will allow ETH holders to earn rewards for staking their tokens.
Staking is a process of locking up ETH tokens in order to participate in the Ethereum network’s consensus mechanism. By staking their tokens, ETH holders help to secure the network and earn rewards in the form of new ETH.
The outage at Coinbase is a reminder that staking is a new and experimental technology. There is always the risk of technical issues, such as the one that Coinbase is currently experiencing.
However, the long-term potential rewards of staking ETH are significant. By staking their tokens, ETH holders can earn a passive income and help to secure the Ethereum network.