Moonstake join hands with Stake Technologies to enhance Polkadot ecosystem

Moonstake and Stake Technologies have joined hands to provide expanded Polkadot ecosystem services
  • The company has developed wallets for web wallet and mobile wallet, which are available to both Android and iOS
  • Plasm Network is a public blockchain which has a Layer 2 scalability solution that is scheduled to be connected to Polkadot

Moonstake and Stake Technologies have joined hands to enhance the Polkadot ecosystem. They are also looking to collaborate with DeFi projects. Moonstake jumped into the staking ecosystem to create the largest staking platform in Asia. 

Moonstake has been on an expansion spree as the company has joined hands with Stake Technologies to enhance the Polkadot ecosystem. Both the companies will work together on the potential implementation of the staking of Plasm Network token, PLM onto Moonstake’s platform. They are also looking to collaborate with DeFi projects. 

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With an aim to create the largest staking network in Asia, Moonstake jumped into the staking business only last year. Since then, the company has developed wallets for web wallet and mobile wallet, which are available to both Android and iOS. They are compatible with more than 200 cryptocurrencies. 

Moonstake added another feather in the cap with the Polkadot’s service in January 2021. Because the company had launched support for staking Polkadot’s cryptocurrency (DOT), the company saw its staking volume soared to 15,000 DOT during the test launch time. With a vision to expand the spread of Polkadot in the blockchain industry via staking, the company had joined hands with RockX. RockX is one of Polkadot’s leading node operators to support the growing Polkadot ecosystem.  

Plasm Network, an important catalyst in the Polkadot ecosystem

Through Plasm Network, high-speed processing for transactions could take place now, which was not possible earlier.  Plasm Network is a public blockchain which has a Layer 2 scalability solution that is scheduled to be connected to Polkadot. Polkadot is a blockchain that connects other blockchains. The company expects that the move will be welcomed by the payment, IoT and games industries. Plasm Network is an Ethereum compatible application platform with high processing performance. Since Polkadot cannot support smart contracts itself, the Plasm Network application will act as an important catalyst in the Polkadot ecosystem. 

Plasm Network has now become the first successful connection to Rocco V1, Polkadot Testnet on Jan 21. It came to limelight only after the launch of Polkadot’s mainnet. They have got 6 grants from the WEB3 Foundation, a global blockchain foundation founded by Dr Gavin Wood. 

Plasm Network has also collaborated with Chainlink, decentralised provider of Oracle and Zenlink.

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Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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