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The Orbs team has recently introduced a novel multi-chain staking architecture, with Polygon being the first chain chosen to support Orbs PoS in parallel to Ethereum.
The Orbs Network is an L3 blockchain project that includes a hybrid architecture, in which apps run on Orbs’ own blockchain infrastructure but the underlying proof of stake logic is implemented on a separate blockchain (currently Ethereum).
The Orbs team has now proposed a multi-chain staking solution with the goal of increasing the security of the network by adding more chains to the proof-of-stake ecosystem, as well as opening up a lower-cost option for Orbs Delegators. This solution adds the option for Orbs Delegators to stake their Orbs Tokens on Polygon (in addition to the current staking on Ethereum).
Polygon is the optimal first blockchain for the implementation of this solution.
This proposal is expected to mitigate the issues with high Ethereum gas costs that Orbs delegators currently face when interacting with the Orbs staking contracts.
Why Polygon
After much research and deliberation, the Orbs team concluded that Polygon is the most suitable chain to implement Orbs new multi-chain staking. As of today, Polygon is emerging as a leading project on top of Ethereum, facilitating high transaction throughput and low gas fees.
After going live on Polygon using the official Polygon bridge to Ethereum, the Orbs presence on Polygon has flourished, with the addition of the ORBS token to leading protocols such as QuickSwap, the largest DEX-AMM on Polygon. As liquidity increased in the Orbs pools, Orbs was also added to leading vaults such as DinoSwap and KogeFarm. All in all, the Orbs project’s expansion into Polygon has been a great success and Orbs maintains a strong presence on the Polygon network.
Throughout this period, the Polygon team has been extremely supportive and responsive to the Orbs team’s needs. This experience has given the team confidence in choosing Polygon as the first chain for Orbs’ new multi-chain PoS staking.
Introducing a Novel Multi-chain PoS Staking Model
To accomplish this integration, the Orbs team has developed and will launch a version of the Orbs PoS contracts on the Polygon chain. Additional contracts will verify the merge state from Ethereum and Polygon to determine the results of Elections Committee votes (which can vote out validator nodes, known as Guardians, if they misbehave). In addition, the Orbs team will need to update the Tetra staking wallet to be compatible with Polygon. As a result, Orbs Delegators will now be able to choose to stake their Orbs Tokens on Polygon, in addition to the current staking on Ethereum. Delegators can make this choice based on their own personal preferences and considerations.
Deploying Orbs’ governance and security mechanism on another chain is a revolutionary and bold move by the Orbs project which conforms with the Orbs project’s vision of interoperability across the crypto space. The Orbs team is excited to launch this innovative idea on Polygon.
This unique approach aims to utilize the solutions currently available in the blockchain stack to their fullest, in order to optimize the security and scalability of the Orbs protocol.
Orbs PoS staking on Polygon means that the Orbs network utilizes the Ethereum stack to its fullest potential: The security of Ethereum as the base layer, and the scalability & low fees of Polygon.
Apps launched on Orbs will be able to enjoy the exponentially increased security benefits that will result from adding a third chain to Orbs’ hybrid architecture. Making staking more accessible and efficient for Orbs token holders is also expected to upgrade the power of Orbs’ proof-of-stake by increasing participation.
The Orbs team is working to deploy the smart contracts in the near future.
What’s Next…
The Orbs team is extremely excited to boost the inclusion and participation of Orbs Token holders by launching staking on Polygon. This move would not have been possible without the active contributions of the Orbs Universe community.
This feedback and participation from the Orbs community continues to allow the Orbs project to be at the forefront of blockchain technology innovation. The Orbs team is proud to put forward this proposal for the community for additional integration with Polygon, a leading project in the crypto space.
Once the proposal has been finalized and approved by the Orbs Universe, the Orbs team expects to work on implementing and deploying the plan on Polygon.
Stay tuned for more information and updates in the official Orbs telegram channel.
About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 3000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your dApp, get started here.
Website | Twitter | Ecosystem Twitter | Developer Twitter | Enterprise Twitter | Studios Twitter | Telegram | Reddit | Discord | Instagram | Facebook | LinkedIn
About Orbs
Orbs is a public blockchain infrastructure designed for mass usage applications – offering 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.
Orbs unique features designed for interoperability primarily with EVM-compatible blockchains, together with its decentralized network of nodes, gives it a competitive advantage in various DeFi applications and a potential for new and exciting technological innovation as an L-3 value extraction layer.
For more information, please visit www.orbs.com, or join our community at:
Telegram: https://t.me/OrbsNetwork
Twitter: https://twitter.com/orbs_network
Source : cryptodaily.io
