Road To Decentralization: Sikka Joins The Elrond Network As Staking Provider
Staking Phase 3 has opened up the doors for more people to contribute towards securing the Elrond Network and earning rewards in the process. The delegation demand is currently being met by around 25 staking pools powered by Staking Providers who have joined forces to offer their services for delegators.
The outstanding demand for staking on our mainnet has attracted even more Staking Providers to join.
This is why we are excited to announce that Sikka is joining the Elrond Network as a staking provider to offer non-custodial delegation services for eGold holders!
“Sunny has been instrumental for bootstrapping the PoS economies space. He did a lot of pioneering work and has helped us over the years as an informal advisor. I am excited to collaborate with him and take the Elrond PoS economy to the next level.” said Lucian Mincu, Elrond CIO.
Sikka is a company focused on operating blockchain infrastructure that provides delegation services to a large community. They currently manage more than $230 million dollars worth of assets on five different networks.
The company was co-founded by Sunny Aggarwal and Dev Ojha, two of the architects and core devs of the Cosmos ecosystem, which arguably kicked off the Proof of Stake space as it has evolved today.
Sunny started off as an Ethereum developer, helped start the “Blockchain at Berkeley” research group, and is now an authoritative advocate for PoS and decentralization.
Dev is one of the forefront researchers on zero-knowledge proofs and is helping develop techniques for improving privacy and scalability throughout the blockchain ecosystem.
“The Elrond team is hardcore by any standards and a pleasure to work with. They have built impressive tech and a devkit that is more mature than the age of their mainnet would have you believe. We’re super happy to join the Elrond ecosystem” said Sunny Aggarwal, Sikka Co-Founder.
The collaboration is important because it adds an infusion of valuable PoS experience into the Elrond ecosystem while further diversifying the options for eGold holders searching for non-custodial delegation services.
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.
Sikka is a company focused on building and operating secure infrastructure for blockchains and other decentralized networks. They have a firm commitment to the integrity of vision and promise to only run and promote infrastructure for projects they believe help the cause of decentralization and push the space forward. Sikka believes that the best operators of networks are active participants in their development and creation. The firm contributes heavily to research and development in numerous fields throughout the blockchain space.