Orbs launches smart contract for validators in the TON Blockchain
Orbs, a public blockchain infrastructure designed for mass consumption applications, has announced the release of a new smart contract called the sole nominator for validators on the Telegram Open Network (TON) blockchain. The contract provides an isolated cold wallet for validators to secure their validation process, improving their independence, security and protection against gas consumption attacks.
In the TON blockchain network, validators participate in a proof-of-stake consensus algorithm by staking their cryptocurrency holdings to support the network’s security and transaction processing. The nominator essentially nominates a validator to represent their stake in the network and earn rewards on their behalf. The validator, in turn, is responsible for validating transactions and adding new blocks to the blockchain.
The single nominator smart contract provides an option for the core team nominator pool smart contract. The option was developed internally to provide security for validators staking their money. The contract provides an isolated cold wallet for validators to secure their validation process and prevent gas consumption attacks. The contract also offers the ability to recover stakes in emergencies, such as option upgrades.
The contract has been audited by CertiK, a Web3, blockchain and smart contract security firm, which recently announced a partnership with TON to audit future projects on the network. Orbs has released the single nomination contract to the community as a free open source product.
The release of the single nominator smart contract is a significant development for validators in the TON blockchain network. The contract offers a secure and independent way for validators to participate in the proof-of-stake consensus algorithm, providing increased security and protection against gas consumption attacks. The contract’s audit by CertiK adds an extra layer of security and confidence to the product’s reliability.
Orbs is a leading public blockchain infrastructure designed for mass consumption applications. The platform aims to provide a scalable, secure and decentralized infrastructure for developers to build their blockchain applications. Orbs is committed to advancing the use of blockchain technology by providing a user-friendly and developer-friendly platform for building decentralized applications.
In conclusion, the release of the single nominator smart contract by Orbs is a significant development for validators on the TON blockchain network. The contract offers improved security and protection against gas consumption attacks, allowing validators to participate in the proof-of-stake consensus algorithm in a secure and independent manner. Orb’s commitment to advancing the use of blockchain technology is demonstrated through the release of this free, open source product, which has been audited by CertiK, adding an additional layer of security and reliability to the contract.
