Ferrum Network extends its staking-as-a-service solution to Algorand
Ferrum Network extends its staking-as-a-service solution to Algorand
- The integration of ferrum with algorand ensures seamless interoperability between Ethereum Virtual Machine (EVM) and Algorand Virtual Machine (AVM).
- The integration extends the staking-as-a-service solutions from Ferrum to the Algorand-Blockchain.
- ferrum also plans to introduce a multi-chain token-bridge for algorand before the end of the second quarter of 2022.
ferrum Network, a cryptocurrency network that wants to help existing blockchain networks to tackle interoperability problems over a number of multi-chain infrastructure solutions, has announced the successful integration with the Algorand Blockchain.
With this integration, the staking-as-a-service solutions of the blockchain interior operability platform are now accessible for projects in the Algrorand ecosystem.
The ferrum-netzwerk announced this via a press release that was shared with Cointeext on Tuesday, 26.04.
Staking-as-a-service provider for Algorand
provider of staking as a service (Staas) offer investors who are looking for possibilities in a proof-of-stake ecosystem such as Algorand, the platform to benefit from staking via a trustworthy third-party provider.
Staas thus offers a number of products that make investors simple and safe to delegate and earn their stackable assets.
" We look forward to Ferrums Go-Live on Algorand, this version enables users to select a staking pool based on their time preference and to receive juicy rewards , said Daniel Oon, Head of Defi at Algorand Foundation.
a "milestone" in the pursuit of interoperability
The availability of the staking-as-a-service solution switches the free Algorand Blockchain, which can use a diverse ecosystem of blockchain-a-a-service (Baas) products.
to do this is an "important milestone" on the list of services to be provided for Ferrum. Integration with the Algorand Virtual Machine (AVM) has come closer to the achievement of interoperability 2.0. Nick Odio, Executive Vice President of Partnerships and Growth at Ferrum Network, commented:
" This integration means an important step in Ferrum's striving for interoperability 2.0. This is the first of many integrations that Ferrum has completed with an unvm-compatible network, and we feel honored to have Algorand at our side", added Odio.
Next comes the Ferrum Multi-Chain token Bridge
ferrum Network was founded in 2018 with the aim of driving the interoperability between blockchains.
decentralized application projects (DAPPS) that fall back on its technology benefit from immediate multi-chain functionality, whereby teams can create and provide applications via a network and enable access and use on another.
As part of the integration with Algorand, the Ferrum team works towards another milestone-the introduction of a multi-chain-token-Bridge by the end of the second quarter of 2022.
If this is achieved, it will enable seamless interoperability between algorand and several EVM-compatible chains. The technology will also enable seamless bridging and exchanging digital assets across algorand and non-EVM compatible networks.
The need for seamless "communication" between blockchains is even greater with the increase in decentralized finances (defi), non -fungible tokens (NFTS) and Gamefi.
ferrum Network (FRM) and other crypto projects with cross-chain and multi-chain compatibility should support developers in achieving interoperability and compatibility that are so important in the rapidly growing industry.
The leading blockchain platforms that offer different aspects of interoperability include cosmos (atom), Polkadot (dot), Harmony (one), Wanchain (WAN), quant (qnt) and icon (icx).
Source: Coinlist.me
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