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Orbs (ORBS) is an open, decentralized public blockchain operating on a permissionless network with a Proof of Stake (PoS) consensus mechanism. The platform facilitates interoperability by supporting two primary Layer 1 networks: Ethereum Virtual Machine (EVM) and The Open Network (TON).
Orbs, a hybrid decentralized blockchain, combines the benefits of the PoS consensus mechanism with a unique virtual chain infrastructure. This blend aids in the creation of the next wave of decentralized applications (dApps). The platform offers both client and smart contract development kits (SDKs), enabling development to be secure, efficient, and cost-effective. At the same time, with isolated virtual chains, Orbs ensures that congestion on one chain doesn't hinder the performance of others.
The Orbs team consists of professionals with backgrounds in blockchain and cryptocurrency. Daniel Peled serves as Orbs' president and is also the co-founder and CEO of the fintech startup, PayKey. The team also includes Tal Kol, co-founder of Appixia, which was acquired by Wix.com, Netta Korin, formerly an investment banker on Wall Street, and Uriel Paled, a blockchain consultant. The team has collaborated with ventures such as Polygon Labs as part of their ongoing efforts for the platform.
Orbs has three main features: Virtual chains, randomized Proof of Stake, and cross-chain interoperability. Virtual chains operate on a shared node infrastructure, ensuring isolation between chains and preventing congestion. The platform's unique PoS model, known as Randomized Proof of Stake (RPoS), ensures security and scalability by randomly selecting validators from a broad pool and utilizing smaller committees for consensus. Finally, through smart contracts, Orbs offers a bridge to Ethereum, allowing users to tap into Ethereum's capabilities without exiting the Orbs environment.
There is a maximum supply of 10 billion ORBS. ORBS is used as a means of payment on the platform, primarily used to settle application execution fees. Moreover, the token also plays a pivotal role in electing public network permissionless validators in a secure and decentralized manner.
ORBS tokens were distributed in the following way:
The Orbs network helps developers improve decentralized applications (dApps) capabilities and build solutions at scale. Businesses can leverage Orbs’ cloud system overseen by validators to manage customer data on a decentralized public network. Additionally, Orbs enables interoperability, ensuring that contracts deployed are compatible across various blockchains.
ORBS tokens are essential for transactions within the Orbs network, particularly for decentralized applications. Moreover, ORBS holders have the opportunity to serve as validators and earn rewards for bolstering network security.
Easily buy ORBS tokens on the OKX cryptocurrency platform. OKX’s spot trading terminal includes the ORBS/USDT trading pair.