Road To Decentralization: Leading South Korean Blockchain Infrastructure Operator B-Harvest Joins The Elrond Network As Staking Provider

Lucian Mincu
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Jul 07, 2021
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3 min read
https://bharvest.io/

The Elrond Network infrastructure has expanded from 2,169 nodes at launch to 3,200 nodes at present, with most of them having backup nodes, observers, and proxies, totaling more than 5,100 nodes connected to our mainnet.

While acknowledging the larger number of nodes currently connected to the Ethereum 2.0 Phase 0 “beacon chain”, the Elrond blockchain is the largest live PoS mainnet out there, capable of delivering 15,000 TPS throughput via its scalable sharded architecture.

This is a great responsibility for decentralization, which we have been pushing very hard for through a number of actions:

Staking Phase 3 introduced Staking Pools, enabling 40 staking providers to offer their services. Staking Phase 3.5 enabled existing validators to become staking pools, which lead to an increase of 80%+, with more than 70 staking pools existing right now.

We are excited to announce that B-Harvest is also joining the Elrond Network as a Staking Provider! B-Harvest is a leading provider of blockchain infrastructure out of South Korea. They have rich experience in the Cosmos blockchain ecosystem and have recently developed and deployed the Gravity DEX AMM, arguably the most important DeFi contribution for the Cosmos Hub.

B-Harvest will join Elrond as Validator nodes operator and offer non-custodial EGLD delegation services. We will work together to explore DeFi collaborations and other opportunities to drive innovation for the Elrond ecosystem.

“B-Harvest is amongst the blockchain firms that have understood early on that the combination between DevOps and DeFi is not only a great recipe for fast growth but also an essential mix of skills for the development of the new digital economy. We welcome their vast expertise and experience, which we trust will bring significant value to the Elrond ecosystem.” said Lucian Mincu, Elrond CIO.
“The Elrond sharded architecture and its extensive validators network has been on our radar for quite a while. What finally made us pull the trigger on joining the Elrond ecosystem was the team’s commitment to decentralization and their wish to ensure Validator distribution amongst as many different operators as possible. This is a great fit with our vision of a truly decentralized blockchain space, where DeFi projects can exist beyond any single point of failure or control.” said Hyung Lee, Co-Founder and CEO B-Harvest.

B-Harvest is already operating 7 validator nodes on the Elrond Network and can currently accommodate up to 50,000 EGLD, of which 42,511 EGLD is already filled, at ~14% APR. Make sure to check them out here: https://explorer.elrond.com/identities/bharvest

About Elrond

Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.

About B-Harvest

B-Harvest is a blockchain validator and DeFi developer. The team participates in many different PoS networks, such as Cosmos, Terra, Chainlink, Band Protocol, and more. B-Harvest pursues an “actively participating validator” philosophy, which means more than operating validator nodes, by deeply engaging in each project’s community, governance, discussions, and codebase development.

https://bharvest.io/


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Written by
Lucian Mincu
CIO, Elrond Network