Stake Technologies and Moonstake will collaborate to enhance the Polkadot ecosystem. They’ll also talk about the idea of staking the Plasm Network token, PLM, on Moonstake’s staking platform, as well as possible collaboration in the DeFi area.
Moonstake entered the staking business last year with the goal of becoming Asia’s largest staking network. It has since built wallets that support over 2,000 coins for both Web Wallet and Mobile Wallet (iOS/Android).
Moonstake added Polkadot’s staking service
In January 2021, Moonstake successfully achieved a staking volume of 15,000 DOT during the test launch phase of its support for staking Polkadot’s cryptocurrency (DOT). It has also engaged in a strategic relationship with RockX. It is one of Polkadot’s world’s leading node operators. The action is to assist the ever-growing Polkadot ecosystem together. Furthermore, to accelerate the growth of Polkadot in the blockchain sector through staking.
Plasm Network is a public blockchain that will connect to Polkadot. Polkadot is a blockchain that connects other blockchains, and can provide a Layer2 scaling solution. It also enables high-speed transaction processing. This was previously impossible. Expectations for the usage of technology in payment, IoT, and games are rising. Plasm Network, will also play a significant role in the Polkadot ecosystem. Plasm Network is an Ethereum-compatible application platform with excellent processing performance. This is if given Polkadot (Relaychain) does not enable smart contracts.
Plasm Network success
On January 21, Plasm Network became the world’s first successful connection to Rococo V1, Polkadot testet. This was following the introduction of Polkadot’s mainnet. The Web3 Organization has awarded them six awards. Dr. Gavin Wood and the flagship project of Polkadot formed the organization is a global blockchain foundation.
Plasm Network has worked with companies like Chainlink. It is a decentralized Oracle supplier, Zenlink, a cross-chain DEX protocol, as well as universities like UC Berkeley.
Moonstake creator Mitsuru Tezuka expressed his delight at the opportunity to collaborate with Stake Technologies on the Plasm Network’s development. Over the last two years, the company’s growth and industry presence have been extraordinary, including the world’s first connection to Polkadot’s testnet. I’m excited that users all over the world utilize a product in a variety of fields, including DeFi, and will be extremely compatible with Moonstake’s Polkadot business.
Sota Watanabe, the founder of Stake Technologies, stated that the firm has been active in the open-source development of Polkadot, which is thought to be the cornerstone for the next generation Web 3.0, since the company’s inception. Since its inception in mid-2020, the Plasm Network has been met with high hopes around the world. The network has attracted attention from all over the world and has established itself as a player in the ecosystem.
Staking is, without a doubt, the most important feature of public PoS blockchains like Polkadot and Plasm Network. Moonstake is hoped to be used by people to stake PLM tokens.
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