Orbs Pioneers Multi-chain Staking on Ethereum And Polygon Through Community Proposal
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Orbs Pioneers Multi-chain Staking on Ethereum And Polygon Through Community Proposal

Tuesday, January 11, 2022 11:45 AM
Orbs

Orbs Protocol prepares to become the first player to introduce multi-chain staking on Ethereum and Polygon.

TEL AVIV, ISRAEL / ACCESSWIRE / January 11, 2022 / Orbs takes an innovative approach to multi-chain staking on Ethereum and Polygon. Since bringing its Proof-of-Stake architecture to Ethereum in November 2019, Orbs has noted strong demand for similar solutions with lower transaction fees across other blockchains. As a layer-two scaling solution, Polygon offers high transaction throughput and lower gas fees, making it of great value to DeFi and NFT projects, among other ventures.

The team considers Polygon the most suitable chain for multi-chain staking. It is the leading layer-two project on Ethereum. Moreover, the deployment of Orbs staking on Polygon will highlight the advantages of Ethereum's core technology which benefits from the advantages Polygon's stack brings to the table. Orbs is on the road to achieving scalability at low fees while maintaining a high degree of security.

Orbs continue to strengthen its DeFi space position as a multi-chain asset. The protocol is accessible across five major chains: Ethereum, Binance Smart Chain, Polygon, Solana, and Avalanche. Moreover, the Orbs ecosystem has been integrated into over 17 major DeFi platforms, with more to follow. These developments pave the way for Orbs to become a Layer-three infrastructure for decentralized finance applications, products, and services.

The Orbs community can now weigh in on the multi-chain staking proposal. If the proposal is accepted, the Orbs team will deploy PoS contracts on Polygon and extra contracts to verify the merge between the two supported networks for Elections Committee results. Moreover, the staking wallet will need an upgrade, giving Orbs Delegators the option to stake on whichever chain they are most comfortable with.

Staking ORBS on Polygon enhances the inclusion and participation of token holders in the PoS universe. Furthermore, it solidifies Orbs as a multi-chain protocol. It allows the team to develop new features that may not be practical on Ethereum yet will prove versatile when launching them on Polygon.

About Orbs

Orbs is a public blockchain infrastructure designed for mass usage applications and close integration with EVM-based L1 and L2's such as Ethereum, Binance SmartChain, Avalanche and Polygon. Orbs' blockchain stack provides developers a proper mix of performance, cost, security and ease of use.

The Orbs protocol is decentralized and executed by a public network of permissionless validators using Proof-of-Stake (PoS) consensus. The Orbs network has been live since March 2019, is powered by the Orbs Proof-of-Stake (PoS) Universe and is enabled by the ORBS token.

Orbs unique features designed for interoperability, together with its decentralized network of nodes, gives it the ability to be deployed as a Layer -3 solution, acting as a separate execution layer enhancing the capabilities of EVM smart contracts.

Founded in 2017, Orbs is being developed by a dedicated team of more than 30 people out of Tel Aviv, Israel, London, UK, Singapore, Tokyo, Japan and Seoul, South Korea. Orbs was named Gartner's "Cool Vendor in Blockchain Technology" for 2018.

For more information, please visit www.orbs.com, or join our community at:

Telegram: https://t.me/orbs_network
Twitter: https://twitter.com/orbs_network

Contact:

Ran Hammer
[email protected]

SOURCE: Orbs

Topic:
Product Announcements
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