Blockchain

HyperBlocks Plans to Launch Staking-as-a-Service for Fantom Mainnet

The blockchain venture firm, HyperBlocks specializes in proof-of-stake protocols and now is ready to deliver its SaaS, staking-as-a-service platform for the initial Fantom mainnet. The smart contracts based on DAG dubbed the platform “consensus-as-a-service.” Fantom is a technology firm that specializes in the smart contract stack of Directed Acyclic Graph (DAG) created as a foothold for some high-grade and scalable public infrastructural needs.

The launch of mainmet, the Fantom’s Statheros’ stable coin portal, that entrenches a coalition with a leading bank in South African, is anticipated to take off shortly, followed by the open-source smart contract framework, mainnet’s launch.

The launch will kickstart before 2019 ends. The program is designed like an EVM and a custom virtual machine that is compatible with distributed applications. This acts as the base of the engine designed for Fantom’s wider stack of technology.

Both the software will make staking possible for the stakeholders of FTM. A mediator will subsist between the tokens so that the customers can directly stake over the platform, and easily barter their tokens in exchange for ERC20 as well as BEP2.

In a blog post on medium, Andre Cronje, Technical Advisor to Fantom, wrote that

Fantom is a consensus provider, much like RAFT is to the traditionally distributed world. The goal has been and will be to focus on building the best-decentralized consensus available — not to be the best blockchain available. A blockchain is part of the product, a consensus is one of the modules, just like you have modular EVM support, or NFT, or Issuance.

Fantom has a number of projects constructed on the SDK features, such as Zar Network, the open monetary and stable coin-oriented project based in South Africa.

HyperBlocks’ investment firm, HyperChain Capital, already donated a $2 million to Fantom, and now is getting ready to offer security to the very first stable coin, mainnet on Fantom.

HyperBlocks is a leading SaaS firm that works on targetted at high-grade networks of Proof of Stake (PoS) such as Tezos & Cosmos. Also, HyperBlocks is a prime validator and staker for the digital asset exchange, Wax, that operates globally.

Aside from running Fantom nodes, Hyperblocks will be running staking as a service platform where users that hold a considerable amount of tokens can stake easily and secure, but don’t have the technical prowess to manage a validation node in the network,

says Michael Chen, CMO of Fantom.

The momentum in SaaS is taking shape this year, as institutional investors, along with venture capital firms seem inclined to the lucrative fixed returns from the native tokens such as Tezzies (XTZ) as well as Cosmos’ ATOMS over the network. HyperBlocks exclusively aims at PoS protocols and is also planning to disclose a SaaS for Polkadot & Aelf, the public blockchain networks.

Fantom’s already up, and running Testnet indicates its robust grip on a well scalable stack of technology that caters to a wide potential application range such healthcare, resource management, education, and much more.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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