Elrond, a new revolutionary blockchain network has announced its collaboration with Everstake which serves as a staking platform catering to the requirements of institutional investors. The integration between the two entities will allow Everstake to employ Elrond validators on behalf of anyone who shows interest in their Staking-as-a-Service offering.
“Participants in the Elrond network are our core focus, regardless of their available resources or skills. By joining forces with Everstake we are now able to recommend a trustworthy professional blockchain infrastructure operator to all our supporters that need one,” stated Beniamin Mincu, the honorable CEO of Elrond.
Interestingly, blockchain technology is the driving force behind the fast-growing distributed and digitalized economic space. The new-age technology has strengthened its presence in the market as a strong replacement for the current centralized systems by offering high-grade security and functionality that too in a trustless manner. Where centralized technologies require a third-party trust, DLT uses mathematical algorithms for the process. The new distributed economy is seeing the emergence of a class of participants using computing resources in a blockchain network with an aim to earn lucrative profits.
The team of experts and specialists at Elrond are adamant to come out with solutions that are capable of reducing the entry barriers for the validators. This amazing feature allows the entry of validators with basic computer skills as well as entry-level PC systems to operate on the network and render them to earn ERD rewards. The firm aspires to facilitate the supporters having no time or resources for setting up their own nodes and putting their digital assets to bring returns for them.
Sergii Vasylchuk, who serves as the CEO and Founder of Everstake quoted, “We commit our resources to sustain the long-term well-being of the networks where we operate. Therefore, our selection process is rigorous. It includes due diligence on technology, economics, and business appliances. Elrond meets all our criteria, and we are happy to join the network as a validator.”
About Elrond and Everstake
Elrond aspires to bring a revolution in data analytics and execution speed through its innovative blockchain architecture. The platform offers two chief innovations namely- a novel Adaptive State Sharding mechanism and a Secure Proof of Stake algorithm. These help in achieving linear scalability with a fast, reliable, and safe consensus mechanism. Elrond offers processing of 10,000 transactions per second with a 5-second latency clubbed with a meager cost.
Having established itself as a leading staking service provider, Everstake helps regular token owners to earn staking rewards on their PoS digital holdings. It operates on 16 blockchain ecosystems as a validator and has been entrusted with stakes and votes amounting to over $1 billion.