What are Orbs (ORBS)? All information about token ORBS

• Introduction to Orbs (ORBS)
• What are Orbs (ORBS)?
• Orbs (ORBS) created to fix what problem?
• Orbs' Solution (ORBS)
• Orbs . project development roadmap
• Orbs . project development team
• General information about the ORBS . token
• What is ORBS token used for?
• How to earn and own ORBS token tokens
• The safest place to buy, sell and store ORBS tokens today
• Future of Orbs (ORBS), should invest in ORBS token or not?
• summary

Orbs is an open, decentralized and fully transparent blockchain infrastructure platform that uses the PoS consensus protocol to help developers develop cross-chain Dapps.

Do you know anything about Orbs, an infrastructure-providing blockchain, that is integrated to work with other blockchain platforms? If not, let's explore the Orbs network as well as the ORBS token with TraderH4 in the article below. 

Introduction to Orbs (ORBS) 

What are Orbs (ORBS)?

Orbs is an infrastructure platform, dedicated to providing growth services on the Ethereum platform. Orbs works alongside existing Layer 1 and Layer 2 solutions, such as Ethereum, Polygon, BNB Chain, Avalanche… as part of a tiered blockchain stack. As such, a Dapp does not need to move to another chain, but can easily enhance the capabilities of EVM smart contracts and open up a whole new range of possibilities for Web 3.0, DeFi, NFT and GameFi.

In addition, the platform can help real-world businesses access the technology-intensive platform in a simple way. Orbs distributes a transparent public blockchain platform in the form of IaaS (Infrastructure as a Service) for businesses.

Orbs was founded in 2017 and is developed by experienced engineers, entrepreneurs and scientists from many countries Israel, London, UK, Singapore, Tokyo, Japan and Seoul, Korea. 

Orbs (ORBS) created to fix what problem?

Blockchain platforms for Dapps and businesses are both facing dilemmas that have not yet been satisfactorily resolved as follows:

• Security is not guaranteed
• Low scalability
• Poor liquidity
• Gas fees (transaction costs) are high

Orbs' Solution (ORBS)

So how did the Orbs platform solve the problem? To find solutions to the above dilemmas, the developer team used the blockchain platform in the Orbs ecosystem as follows: 

• The first is the scalability of the blockchain. Orbs uses a “hybrid” (hybrid) protocol that solves this problem for existing blockchain platforms, especially Ethereum. Besides, this hybrid protocol also increases Orbs' cross-chain performance. 

• Next to security, Orbs has used the Randomized Proof of Stake (RPoS) consensus protocol to confirm transactions quickly and ensure network security. In this random consensus protocol, validators are selected at random with the support of a committee in the network. This model is also known as Helix, a Byzantine fault-tolerant and scalable algorithm in which custodians and delegators use stakes to choose validators.
• Besides, the proof-of-stake ecosystem also makes it easy for Dapps to develop. The proof-of-stake (PoS) ecosystem is the basis for the Orbs network and ensures its security and smooth operation, thus optimizing the platform for Dapps.
• Orbs uses Virtual Chains technology to divide traffic to ensure transaction speed, low transaction costs and avoid system congestion. 

What are the outstanding characteristics of Orbs (ORBS)?

Orbs uses the consensus protocol RPoS for network validation. This makes the transaction validation process fast and improves the scalability and security of the Orbs network. Here are the highlights of Orbs. 

• Virtual Chain (Virtual Chain)

The virtual chain provides critical infrastructure for developers to easily build Dapps on top of it. Notably, the Dapps are completely run independently on different virtual chains. This limits network congestion in cases where the supply/demand in the market is too high. 

• Cross-chain interoperability

The Orbs platform's smart contract not only supports easy-to-operate applications, but also interoperable and accessible on the Ethereum platform. What's more, these dapps can fully access the Ethereum network, without leaving the Orbs platform. 

• The Orbs platform offers three impressive services: 

1. Decentralized – Consensus Compute: This service allows developers to launch Dapps in the Orbs network easily, safely, and with high security. 
2. Decentralized – Consensus Storage: A storage service that allows developers to store data in the Orbs network. Data is copied and divided across multiple nodes to prevent hackers from stealing data.
3. Consensus as a Service (CaaS): This service allows users to reach consensus with other services. Users can use CaaS to notarize papers or documents.

• Many established entrepreneurs and companies have announced plans to develop a public cryptographic, blockchain-based service. Blockchain applications are expected to grow in many areas, including from copyright protection to micropayments between anonymous vehicles.

Orbs . project development roadmap

Below are the development milestones from Q2 2019 to Q2 2021.

• Deploy Proof-of-Stake v2.
• Develop applications for participants of the PoS ecosystem.
• Build “Orbs Audit Nodes”.
• Protocol enhancement research.
• Launch of IDE (Integrated Development Environment) online for developers.

Orbs . project development team

Orbs is a company dedicated to providing blockchain services to real-life clients, from copyright protection to micropayments between anonymous vehicles. The Orbs company operates similarly to Amazon Web Services because it provides cloud-based computing. There are four people behind Orbs: Daniel Peled, Tal Kol, Netta Korin and Uriel Peled.

• Daniel Peled is the President of Orbs Company. In addition, he is also the co-founder and CEO of PayKey, another Fintech startup in Israel. Peled is a “veteran” of the Bitcoin Israel community, having earned an LLM and a Bachelor of Science in Economics.
• Tal Kol holds a Bachelor of Science in Computer Engineering from Technion, a university in Haifa, Israel. Tal Kol used to be the Head of Engineering at Kin by Kik Interactive, as well as an expert in blockchain Dapps. In particular, before founding Orbs, he was also a co-founder of Appixia, a mobile application startup that successfully transferred to Wix.com. 
• Netta Korin started her career on Wall Street as a banker. Later, Korin retrained to become a hedge fund manager. Prior to her success at Orbs, she served as a senior advisor to the Deputy Minister of Foreign Affairs, Dr. Michael Oren at the Office of the Prime Minister of Israel.
• Uriel Peled is an advisor to several blockchain projects. This makes Peled one of the most influential figures in Israel. Peled also graduated from Technion University with a degree in electrical engineering. Like the other members, before joining Orbs, Peled co-founded Visualead, an AR/VR startup, which was later acquired by Alibaba. 

General information about the ORBS . token

ORBS is a token developed on the Ethereum platform, according to the ERC-20 standard but has its own mainnet. The ORBS token, staking, authorization and voting works on Ethereum contracts, and is also used as currency in the Orbs network. 

What is ORBS token used for?

Although Orbs officially launched the Mainnet on March 28, 2019. However, ORBS is still an ERC-20 token and is used for the following purposes:

• Support to pay gas fees at a lower cost. 
• Payment for services in the Orbs network: Businesses, projects, and developers use ORBS to pay various fees for their applications in the Orbs network. For example, consensus fees, storage, smart contracts.
• Reward: The ORBS token is also used to reward members or organizations that act as nodes participating in transaction verification in the network.

Basic information about the ORBS . token 

• Ticker: ORBS
• Contract: 0xff56cc6b1e6ded347aa0b7676c85ab0b3d08b0fa
• Decimal: 18
• Blockchain: Ethereum
• Token Standard: ERC-20
• Token type: Utility token
• Consensus: Randomized Proof of Stake (RPoS)
• Circulating Supply: 2.88 billion ORBS
• Total Supply: 10,000,000,000 ORBS

ORBS . Token Allocation

The 10 billion ORBS tokens are allocated as follows: 

• Long-term reserves: 55%
• Public Sale: 20%
• Founding team: 20%
• Advisor: 5%

How to earn and own ORBS token tokens 

ERC is a token developed on the Ethereum platform and according to ERC-20 standards, there are ways to earn and own ORBS tokens as follows: 

• Get rewarded with ORBS tokens for participating as transaction confirmation nodes in the network.
• In addition, you can buy on exchanges like Bithumb, Upbit, Bittrex…

The safest place to buy, sell and store ORBS tokens today

Orbs has been operating for quite a long time in the market, since 2019 it has been listed and supported by many major exchanges such as Gate.io, KuCoin, Bithumb, FTX… The trading pairs are also quite diverse. formats such as: ORBS/KRW, ORBS/USDT, ORBS/ETH…

Because ORBS is an ERC-20 token, users can completely store it on other Ethereum wallets such as: 

• Web wallets: Myetherwallet, Mycrypto, Metamask.
• Hot wallets on listed exchanges: FTX, Gate.io, KuCoin…
• Hardware wallets: Ledger Nano S, Trezor.
• Other wallets: Atomic Wallet, Trust Wallet, ImToken.

Future of Orbs (ORBS), should invest in ORBS token or not?

Orbs is a blockchain platform, focused on solving problems that developers and businesses face such as: Scalability, payment, security. The goal of the project is to become a platform that allows businesses to create decentralized blockchain applications, supporting users, serving their business.

According to Orbs' business model, the supply and demand for ORBS tokens is as follows:

• Purchase demand: Organizations and developers buy in to pay for the cost of the service.
• Demand for sale: Nodes that are rewarded with ORBS will be sold to the market.

Thereby, you can make a judgment about the growth rate of ORBS in the future. In addition, Orbs also has strategic partnerships with major partners such as Kakao (a world-renowned internet corporation) and Celsius (a crypto lending platform) to apply blockchain technology to lending on the platform. decentralized platform. However, Orbs still faces fierce competition from many other projects in the same segment. 

summary

In the above article, we introduced the Orbs blockchain infrastructure project and the ORBS token. Hopefully, through the article, you have gained more important information to support the analysis process and make investment decisions. Let's accompany TraderH4 to update other potential projects!