Road To Decentralization: Trust Staking Joins The Elrond Network As Staking Provider

Lucian Mincu
·
Mar 17, 2021
·
2 min read
https://truststaking.com/

The Elrond Staking Phase 3 is around the corner. Starting with April 5 the number of validator nodes will increase from 2169 to 3200 and staking providers will be able to offer non-custodial staking services to their customers.

The current eGold amount staked by Validators and Delegators has been hovering around 9.5 million, which means the 8 million eGold base (2.500 eGold x 3200 Validator nodes) will likely have additional eGold staked on top.

This indicates a very healthy demand for staking, which will lead to increased network security, which in turn will lead to increased confidence for deploying valuable products on the Elrond mainnet, in a perpetual virtuous cycle.

This is why we are excited to announce that Trust Staking is joining the Elrond Network as a staking provider, further decentralizing the operations of our mainnet and offering additional options to our delegators community.

“The team over at TrustStaking has shown an incredible passion for the Elrond infrastructure. We were happy to see them gain visibility in our Validators community through contributions, tools, and tutorials, and now we’re happy to welcome them into our ecosystem.” said Lucian Mincu, Elrond CIO.

Trust Staking forming an ambitious technical team aiming to build tools and help people to understand the blockchain space and the opportunity of this ecosystem. They were the first agency to create a tutorial for all agencies explaining the process of deploying the new Elrond Delegation Manager.

Alongside the tutorials and the awareness created around the next Phase 3 update, Trust Staking worked closely with Elrond to improve the delegation manager UI, testing and fixing small bugs to their delegation smart contract instance.

During the initial onboarding with the Elrond ecosystem, they created an interactive AWS Marketplace image and Youtube tutorial to spawn nodes on the mainnet or testnet in an interactive way that does not require advanced tech knowledge.

“Having the opportunity to work with the Elrond team is an honor for us. The staking agency is our first input to the new ecosystem built by Elrond Network, we will expand the Elrond vision using our tech skills in different directions in order to scale the ecosystem with more tools. said Mihai Eremia, Trust Staking CEO

The collaboration is important for the Elrond mainnet infrastructure, as it contributes additional diversity to the staking providers ecosystem, therefore providing more options for our Delegators and further decentralizing the operations of the Elrond blockchain.

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 Trust Staking

Trust Staking uses top hosting providers to ensure and have perfect availability for the staking infrastructure offered to delegators. Having a good balance between performance and cost, Trust Staking strives to offer the optimal earnings for customers. The first thing that will make us successful is the obsessive-compulsive focus on the customer.

https://truststaking.com/


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Written by
Lucian Mincu
CIO, Elrond Network