Trust Wallet, the decentralized app browser and crypto wallet backed by Binance, today announced users will soon be able to use Trust Wallet to stake crypto. The feature is currently planned and scheduled to launch by the end of the second quarter.
Staking involves the act of holding cryptocurrencies as part of the process of running blockchains that use Proof-of-Stake consensus mechanism. Staking gives crypto holders the ability to vote on changes in the blockchain and receive income for validating transactions. Launching the staking feature also adds opportunities for Trust Wallet to support Proof-of-Stake cryptocurrencies and other related assets.
Further, Trust Wallet announced it has added support for Tezos. A unique Proof-of-Stake blockchain network, Tezos is one of the top 20 cryptocurrencies by market cap. Moreover, the Trust Wallet app is preparing for the addition of native support for staking in the Tezos on-chain governance mechanism.
