Coinbase becomes the largest validator for Tezos (XTZ) according to the recent reports which bring the question whether or not the validation from the exchanges will become the next emerging trend in the crypto world so let’s find out more about it in the coinbase news below.
The attention that Tezos (XTZ) is getting lately doesn’t quite come only from the crypto community but most of the crypto companies and exchanges as well. The recent reports show that the exchanges are becoming much more interested and involved with the validation of digital assets. According to the reports, Coinbase becomes the largest validator of Tezos by overcoming Polychain Labs.
It is also very clear that Binance is making some movements in the field as well by occupying the 4th place right now. However, the charts don’t include the foundation bakers and if they did it would place the Foundation Baker 2 in the 3rd position. The validation is the process when the miners in the proof-of-work or coin holders in the proof of stake algorithms, validate a specific transaction. In the case of Tezos since it is proof-of-stake based, the more coins one person holds or an entity has, the more staking power he controls.
The increased interest by the crypto exchanges towards validating the major digital assets raises the question of whether this will become the next trend. The idea was brought up by Bobby Ong who is the co-founder of Coingecko, saying that we will see some exchanges shortly, dominating most of the validators list. He thinks that merely staking as a service could struggle quite a bit. He also brings another exciting point about whether the exchange will allow the users to choose a specific baker but this doesn’t seem like an optimistic idea at the moment.
In any case, the positive developments around Tezos have had their impact on the price as the cryptocurrency is now among the strongest performers today. This is even more interesting if you take into consideration the fact that most of the digital assets have been crashing in price recently. Tezos has done fairly well over the previous months and it is likely continuing on the same path.
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