cgETH Hashkey Cloud
cgETH Hashkey Cloud (cgETH.HASHKEY) is a tokenized representation of Ethereum operating within the Hashkey Cloud ecosystem. It is designed to provide users with exposure to Ethereum's value while integrating with Hashkey Cloud's infrastructure and services, including staking and decentralized finance (DeFi) tools. [2] [3]
Overview
cgETH Hashkey Cloud (cgETH.HASHKEY) is a wrapped version of Ethereum that operates within the Hashkey Cloud infrastructure. It mirrors the value of Ethereum while enabling access to additional features within the Hashkey ecosystem, such as integrated wallet services and trading functions.
Users receive cgETH tokens by depositing Ethereum into the Hashkey platform, allowing them to hold, trade, or use the tokens across supported applications. The token also supports Ethereum staking through Hashkey, offering a simplified method for users to participate in the network’s consensus process without running validator nodes. cgETH is not mineable, as it is issued based on Ethereum deposits rather than traditional mining. [1]
Features
Utility
cgETH.HASHKEY is used as a tokenized form of Ethereum within the Hashkey ecosystem, enabling trading, investment, and interaction with platform services. It provides simplified access to Ethereum staking, can be used as collateral in compatible DeFi applications, and may be applied in governance-related activities within the ecosystem. [1]
Staking
Staking cgETH.HASHKEY involves locking tokens to support the network’s security and transaction validation under a proof-of-stake (PoS) system. Participants, referred to as validators or stakers, help maintain the cgETH Hashkey Cloud blockchain by processing transactions, creating new blocks, and monitoring the network.
Stakers are rewarded with returns in ether or cgETH tokens, depending on the platform structure, based on the amount staked and the duration of participation. This mechanism replaces traditional proof-of-work mining, offering improved energy efficiency and lower environmental impact. Staking also increases network decentralization and security, as validators are financially incentivized to act in the network’s best interest. [4]