1. What is cbETH?

cbETH (Coinbase Wrapped Staked ETH) cryptocurrency introduction

cbETH is a type of cryptocurrency that belongs to the Ethereum ecosystem. It was launched by the Coinbase platform to represent the staked ETH on the Ethereum 2.0 network.

Main features:

1. Staked ETH rights: cbETH represents the rights of staked ETH on the Ethereum 2.0 network, allowing users to earn staking rewards without directly participating in the staking process.
2. Ethereum-based token: cbETH is an ERC-20 token based on Ethereum, allowing trading and transfers on the Ethereum network.
3. Issued by Coinbase: cbETH is issued and managed by the Coinbase platform, ensuring its security and reliability.
4. Decentralized and transparent: cbETH transactions and holdings information are publicly available on the Ethereum blockchain, ensuring decentralization and security.

Summary: cbETH is a cryptocurrency based on Ethereum, representing the rights of staked ETH on the Ethereum 2.0 network. It is issued and managed by the Coinbase platform, providing security, transparency, and decentralization.

2. Who created cbeth?

The cryptocurrency cbETH (Coinbase Wrapped S

cbETH加密货币的运作方式：

1. 定义和功能：

2. cbETH（Coinbase Wrapped Staked ETH）是一种基于以太坊ERC-20标准的实用型封装代币，由Coinbase独家铸造。

3. 它代表通过Coinbase质押的ETH，包括质押的ETH及其累计的质押利息。

4. Liquidity Release:

5. The main function of cbETH is to release the liquidity of staked ETH. After users stake ETH to earn ETH2 on Coinbase, they can wrap it as cbETH, allowing them to sell, send, or use the locked staked ETH off the platform.

6. Pricing Mechanism:

7. The price of cbETH is not pegged 1:1 to ETH, but represents staked ETH plus all accrued staking interest.

8. The value calculation formula for cbETH is: the value of one staked ETH + the accrued staking interest value starting from June 16, 2022.

9. Use Cases:

10. cbETH can be traded on Coinbase platform, as well as sent and used off the platform.

11. cbETH can also be used in DeFi (decentralized finance) and other dapps (decentralized applications).

12. Competitive Environment:

13. According to Coinmarketcap data, there are currently six similar application tokens to cbETH, all designed to release liquidity for staked ETH, with the largest market value being stETH from Lido Finance and BETH from Binance.