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Why Coinbase’s Move Into Proof-of-Stake Matters



Is Coinbase going to solve the thorny challenges of proof-of-stake (PoS) blockchain governance or centralize those systems even further?

That’s the question experts in the space are pondering with the recent announcement that Coinbase Custody will offer staking support for Maker, Tezos and Cosmos. The move means institutional investors will be able to vote on blockchain governance matters directly through their Coinbase accounts.

“We’re hoping to bring online, frankly, the majority of institutional investors,” Coinbase Custody CEO Sam McIngvale told CoinDesk. “We’re growing these three assets under custody and hoping to see an increased turnout of these votes.”

That ...

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