Orbs Protocol is preparing for the launch of one of the first multi-chain staking solutions on Ethereum and Polygon.
The multi-chain staking solution
Since the implementation of proof-of-stake (PoS) architecture on Ethereum in November 2019, Orbs has decided to come up with a solution that allows users to utilize staking technologies with low fees on other blockchains. To bring the idea to life, Orbs has decided to utilize a Layer 2 scaling solution. Polygon offers high TPS throughput and lower fees, which makes it almost a perfect solution for DeFi and NFT.
Orbs introduces the world’s first multi-chain PoS staking!— Orbs ? (@orbs_network) January 11, 2022
This means Orbs holders could choose to stake their $ORBS tokens either on Ethereum or @0xPolygon.
Read all about it here:https://t.co/rKJHKN0p23 pic.twitter.com/14XO0CBU1S
Orbs' team considers Polygon one of the most suitable chains for building a multi-chain staking solution. The Layer 2 solution allows companies like Orbs Protocol to highlight the advantages of Ethereum's core technology without worrying about underlying problems like network congestion and high fees.
Whenever the multi-chain staking proposal gets accepted, the Orbs team will be able to deploy the PoS contract on Polygon and an additional contract designed for merge verification. After approval and a wallet upgrade, Orbs delegators will be able to stake on whatever chain they wish.
Users staking ORBS on Polygon will bring more inclusion and participation to the PoS universe. The proposal will also mark Orbs as the multi-chain protocol that opens up a considerable quantity of features that the team will be able to develop in the future.
Orbs is a public blockchain infrastructure designed for the development of scalable solutions and applications integrated with EVM-based Layer 1 and 2 blockchains. Orbs' solutions work on such networks as Etherum, Binance SmartChain, Avalanche and Polygon.
The infrastructure can also act as a Layer 3 solution as an execution layer for amping up the benefits of EVM smart contracts.