Tenet blockchain to Improve Transaction Security via Liquid Staking Derivatives
According to developer announcements made on May 3, 2023, Tenet, a blockchain based on Cosmos, will utilize liquid staking coins from other networks to improve transaction security. The plan is to eventually integrate the previous security measures into the new network. This was reported by Cointelegraph.
Sources indicate that the network is currently in testnet mode and will transition to mainnet mode after the testing phase is finished. This new proposal is anticipated as liquid staking has gained popularity as one of the top decentralized finance (DeFi) protocols.
As per the report by Cointelegraph, the utilization of liquid staking derivatives (LSD) in place of the original coin will guarantee the enduring protection of the Tenet network by utilizing the collective security of every ecosystem it caters to. There is an expectation that this will also “provide more liquidity and yield possibilities to LSDs.”
According to Cointelegraph, the latest protocol may enable the re-staking of liquid staking derivatives of Ether, BNB, Cosmos, Solana, and Polygon on Tenet.