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Orbs Introduces Multi-Chain Staking on Ethereum and Polygon: Details

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Tue, 01/11/2022 - 15:42
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Arman Shirinyan
Orbs Protocol introduces multi-chain staking with the help of Layer 2 solution
Orbs Introduces Multi-Chain Staking on Ethereum and Polygon: Details
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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' 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.

Staking ORBS

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.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.