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Harmony Partners with Everstake Expanding Staking as a Service to Institutional Investors

| Updated
by Teuta Franjkovic · 3 min read
Harmony Partners with Everstake Expanding Staking as a Service to Institutional Investors
Photo: Harmony / Twitter

Harmony partnered with Everstake, a Staking Service Platform will now add support for Harmony Nodes to their customer base.

Blockchain protocol with principal innovations in P2P networking and state sharding, Harmony, announced they have partnered with Everstake, a leading Staking Service Platform which helps institutional investors and regular token holders to profit off their crypto assets. Everstake will be working to support Harmony nodes for their growing customer base.

They decided about the partnership because, as they said from the company, Everstake validation stats are speaking for themselves. As of today the digital asset staked worth exceeds $630.5 million, that represents more than 4.3 million blocks produced. Distributed rewards were hovering at around $250k.

Since Harmony’s network’s launch earlier this year, Everstake team has been operating two validator nodes achieving the top staking provider status. Just for reminder, on June 28, Harmony launched Day One Mainnet, the world’s first fully sharded, proof of stake blockchain.

With Mainnet Phase 2, they said they want to bring scalability to the next level with 1,600 nodes (4 shards with 400 nodes each). Mainnet Phase 2 will also include a token swap to the native ONE token, the staking smart contract, and token transfers.

Sergii Vasylchuk, CEO & Founder of Everstake said that they believe that Harmony is capable of solving all current challenges the modern blockchain technology is facing, and that his company is going to continue supporting the platform. He said:

“Moreover, we are planning to launch the development of several projects for Harmony, that will improve the usability and comfort of the platform, starting from its early adopters.”

Vasylchuk added that because of those, above mentioned, two Harmony validation nodes that have already achieved the top staking provider status, they believe that Harmony is capable of solving all current challenges the modern blockchain technology is facing.

He also announced that Everstake is planning to launch the development of several projects for Harmony, “that will improve the usability and comfort of the platform, starting from its early adopters”.

Harmony’s main goal is, as they said in the company, to deliver a low-fee and low-latency blockchain, able to carry all transactions and data of more than 10 billion people and their businesses worldwide.

Fast Transaction Verification and High Decentralization

In order to maximize the transaction capacity, Harmony employs a highly scalable Fast Byzantine Fault Tolerant (FBFT) consensus using Boneh-Lynn-Shacham multi-signatures. This adjustable proof-of-stake consensus with sharding provides fast transaction verification times and very high decentralization with thousands of nodes.

Nick White, Co-Founder of Harmony Protocol said he is hoping for Everstake to bring their deep experience in staking systems and as a leading validator for top blockchain projects to Harmony.

He added that institutions need a trusted partner to help them “actively, safely, and easily” delegate in Harmony’s Proof of Stake network. Members of this network are encouraged to secure Harmony’s blockchain by staking.

This partnership with Everstake will enable institutions and crypto holders to earn passive income by assigning their $ONE tokens to a trusted validator and proportionally share in the block rewards.

Everstake is said to already run Harmony nodes sharing the same security and infrastructure standards as one of the top EOS validators.

The project is establishing strong partnerships to propel the appropriation of the protocol and has a powerful crew made of former Google, Apple and Amazon engineers who all have left these companies in order to create an open consensus for billions of people.

Altcoin News, Blockchain News, Cryptocurrency news, News
Teuta Franjkovic

Experienced creative professional focusing on financial and political analysis, editing daily newspapers and news sites, economical and political journalism, consulting, PR and Marketing. Teuta’s passion is to create new opportunities and bring people together.

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