Coinbase, Exchanges

Does Coinbase Support BEP2?

As of May 2019, Coinbase does not support BEP2. BEP2 is a new standard for tokens on the Binance Chain, which is a decentralized exchange launched by Binance. Binance Chain uses the Delegated Proof of Stake (DPoS) consensus mechanism. DPoS is a variant of the Proof of Stake (PoS) consensus algorithm.

NOTE: Coinbase does not currently support BEP2, a token standard used on the Binance Chain. Using BEP2 tokens on Coinbase could result in the loss of funds. We recommend that you only use tokens that Coinbase officially supports to ensure the security of your funds.

Under PoS, blockchain network participants validate transactions and create new blocks in return for rewards. In DPoS, participants (called “delegates”) are elected by the community to validate transactions and create new blocks. The top 20 delegates by stake weight are chosen to produce blocks. Coinbase has not announced any plans to support BEP2.

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