SGX-Listed OIO Holdings Limited Promotes Blockchain Staking With Moonstake

Asia Blockchain Review
July 25, 2020

Moonstake’s Products and Partnership Update

OIO Holdings Limited (SGX:OIO), a Singaporean stock-exchange listed blockchain solution provider promotes the staking pool of Moonstake – OIO’s joint venture partner.

Now participants can get access to the staking pool of Moonstake by downloading its enhanced web wallets and mobile wallets from their website (https://moonstake.io) to have a higher chance of earning the staking rewards from more and more blockchains.

What is Staking and Why is it a Hot Topic Now?

Staking involves holding cryptocurrency funds in a crypto wallet to support the security and validation operations (Proof of Stake – PoS) of a blockchain network, to receive rewards.

PoS is a fast-growing consensus mechanism that currently controls over 6% of the market share for blockchain validation. PoS provides significant advantages over Proof of Work (PoW) validation, primarily validation speed, energy savings and increased difficulty in 51% attacks.

Those advantages can promote blockchain technology’s broader application in the world. Participants in the staking can receive rewards by locking their coins for a period of time, from 7 days to 12 months, or more. Staking rewards typically offer rewards greater than 3% with cryptocurrency funds locked within the period of time.

More coins such as Cardano (ADA) and Binance (BNB) have announced their plans to shift to PoS this year. Critically important–in the near future Ethereum update will have a large impact on PoS.

This update is referred to as Ethereum 2.0 or Serenity, and will shift Ethereum from PoW to PoS. Both Ethereum and ADA are one of the 10 top cryptocurrencies as to today. Because of those shifts to PoS, the total market cap of PoS coins is expected to reach $30-40 billion or more.

Moonstake Staking Pool and Wallets

Moonstake offers its staking pool which allows users to pool their crypto to gain a higher probability of being chosen as a validator. It means, by participating in the staking pool, participants can aggregate their coins for staking and have a higher probability of earning the staking rewards.

Participants can securely and seamlessly join Moonstake’s staking pool through its web and mobile wallets. Moonstake’s integration of staking functions with its wallets is a unique value proposition that enhances ease of use.

Moonstake’s Partners and Supported Coins

Moonstake’s staking pool and wallets currently support these coins: Cosmos (ATOM), Ontology (ONT), and IRISnet (IRIS).  Moonstake is actively developing staking for these coins: Tezos (XTC), Cardano (ADA), Lisk (LSK), Harmony (ONE), Centrality (CENNZ), and Quras (XQC).  Moonstake recently entered into partnership agreements with Pundi X, Shyft, NEO and Wanchain.

How to get access to Moonstake staking pool

Please refer to Moonstake’s website (https://moonstake.io) for more details about their products and how to get access to their staking pool.

B2B Staking Solutions 

OIO, focused on enterprise sales and business development, will accelerate B2B staking solutions for Moonstake and its partners in this fast-growing market.

The details of the B2B staking solutions which OIO and Moonstake offer will be announced later this year.

Footnotes:
* Blockchain’s original consensus mechanism based on computer processing power
** A potential attack on a blockchain network where a single entity or organization can cause a network disruption by controlling the majority of the hash rate


ABOUT OIO HOLDINGS LIMITED

OIO Holdings Limited (“OIO”) is a Singapore Exchange-listed firm whose core businesses are the provision of mechanical and electrical (“M&E”) engineering services, and blockchain-related agency and consulting solution services.

Over the years, OIO has developed extensive expertise as an M&E engineering services and solution provider. It has built up a strong network with well-established customers who are often engaged in luxury resorts or well-known projects in Singapore and the region such as Sengkang General Hospital and Sheraton Towers Singapore Hotel.

OIO has recently expanded into blockchain-related businesses which include sales agency business, software development agency business and blockchain-related consultancy businesses.

OIO’s vision is to be the best service partner and provider of innovative technology solutions to power the growth of enterprises in Asia.

For more information, visit:  www.oio.sg 


ABOUT MOONSTAKE PTE LIMITED

Moonstake Pte Limited is a Singapore-based technology company with a specific focus in blockchain and staking technologies.

Moonstake has been established with a group of highly reputed blockchain authorities including a founder of CTIA and C-level members of globally known projects.

It has developed various staking products for both B2B and B2C customers and has partnered with major players in Singapore, Vietnam, and Japan.

For more information, visit: www.moonstake.io

For more information, contact: 

Sam Lay, Head of Business Development at [email protected] 

Press contact: Al Leong, Head of Marketing at [email protected] 

Investor Relations contact: Taku Edatsune, Head of Finance and Administration at [email protected] 


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