Crypto Custodian BitGo Launches Staking With Support for Dash and Algorand

Siamak Masnavi

Crypto custodian BitGo announced on Thursday (October 3) that it had launched BitGo Staking. 

Clients whose cryptoassets are held by qualified custodian BitGo Trust Company are now able to earn 7–13% passive income while their digital assets are held in BitGo's cold storage facilities. The new service currently supports Dash (DASH) and Algorand (ALGO), but BitGo has promised to introduce support for other cryptoassets later this year. 

BitGo's press release also mentioned that it had acquired blockchain startup Hedge. Via's Hedge's staking infrastructure, BitGo can offer its clients the choice of either delegating staking to BitGo or to some other staking provider.

Ben Chan, CTO of BitGo, had this to say:

In order to be a great custodian, we need to provide our clients with the ability to use their assets in custody. Staking provides our clients with returns on their investments without ever moving their assets out of custody. Our acquisition of Hedge builds on the blockchain and staking expertise within our engineering platform to deliver an automated, end-to-end staking service.

As for Ryan Taylor, the CEO of Dash Core Group, he stated:

Building trust in cryptocurrency is a shared mission between BitGo and Dash, which led to our initial partnership last year. Dash support in BitGo Staking builds on this relationship and provides additional ways to derive value from Dash in a safe and secure environment. We’re thrilled to be a part of BitGo Staking’s inaugural launch and expect masternode owners will be as well.

 

Featured Image Courtesy of BitGo

Coinbase, EOS Community Clash Over Supposed ‘Degraded Performance’

Francisco Memoria

The San Francisco-based cryptocurrency exchange Coinbase has been clashing with the EOS community on social media over supposed “degraded performance” the EOS network has been suffering.

According to a tweet published by one of Coinbase’s official accounts, the EOS network is experiencing “degraded performance levels” and as a result EOS sends have been disabled, while receives may be delayed. Coinbase’s status page shows it has been seeing degraded performance on the network for four days.

In February 17, Coinbase also noted there were delays in EOS sends/receives as it was working “rough a backlog of outgoing EOS transactions.” Responding to Coinbase EOS New York, a major EOS block producer, claimed the network was fully functional and that the problem came from the cryptocurrency exchange itself.

On Reddit, EOS New York wrote that the “network is operating fine and Coinbase is shifting blame away from their internal infrastructure problems.” It added no other entity reported issues and that instead the exchange could reach out to block producers for free help.

EOS Nation, another major EOS block producer, responded to the exhcnage saying the network did face some hiccups but is nevertheless “extremely reliable.”

Some speculate the EOS network may still be facing congestion from time to time over the controversial EIDOS airdrop, that put the network into a “congestion mode” late last year and forced Coinbase to raise the amount of staked CPU on its wallets to process transactions.

Some believe the EIDOS airdrop is being run to make EOS’s shortcomings stand out and incentivize users to use other blockchains using the EOSIO software, created by the company Block.one. Voice, the social network the company is set to launch ,is for example launching on a “purpose-made EOSIO blockchain.”

Featured Image Credit: Photo via Pixabay.com