Orbs

What is Orbs?

Orbs stands as an openly accessible and decentralized public blockchain infrastructure, overseen by a secure network of permissionless validators utilizing Proof-of-Stake (PoS) consensus.

Positioned as an autonomous decentralized execution layer situated between current L1/L2 solutions and the application layer within a tiered blockchain stack, Orbs maintains a structure that avoids the need to transfer liquidity to a novel chain.

Functioning as a "decentralized backend," Orbs enriches the functionalities of both existing EVM and non-EVM smart contracts, unlocking a diverse range of opportunities for Web 3.0, DeFi, NFTs, and GameFi.

At its core, Orbs serves as a decentralized serverless cloud, providing a platform for app developers to construct backend services or apps. These apps, executed by Orbs validators, offer unique trust features backed by blockchain guarantees. Unlike many existing public blockchains that cater primarily to decentralized apps (dApps), Orbs extends support to permissioned apps developed by for-profit businesses.

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Recent Video Interview

Main points of the interview:

• Orbs' role as a decentralized backend for DeFi, enhancing on-chain trading volume.
• Challenges in liquidity fragmentation on DEXes and Orbs' solution through liquidity aggregation.
• Upcoming integrations and innovations at Orbs.
• Orbs' commitment to advancing DeFi competitiveness against centralized exchanges.

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What Makes Orbs Unique?

The comprehensive Orbs project encompasses a full blockchain stack, meticulously developed from scratch by the core team. With over 60 publicly available repositories on GitHub, the open-source nature of the project facilitates an end-to-end developer experience. The stack includes microservice implementation of the node core, the Helix consensus algorithm, smart contract SDKs, a local development server (Gamma), a block explorer (Prism), and client SDKs for building web and mobile frontends in various languages.

Orbs adopts a Hybrid Two-Tier Consensus model, aiming to bridge the gap between public blockchains designed for decentralized apps and private blockchains intended for permissioned apps. This hybrid architecture combines permissionless infrastructure with support for permissioned apps.

Orbs implements virtual chains for each app, ensuring isolation and dedicated resources. This virtualization allows apps to make independent protocol governance decisions, fostering stability and reducing conflicts of interest. The concurrent operation of virtual chains enables infinite horizontal scalability, as resources are dynamically allocated to accommodate new virtual chains.

The ORBS Token

The ORBS token serves as the exclusive form of payment for Orbs platform services, covering fees for infrastructure operators (Validators) involved in the consensus layer, execution of smart contracts, and consensus-based storage. This token also holds significance in Orbs' proof-of-stake ecosystem, being utilized for the election of Validators responsible for network integrity and participation in protocol governance. As an ERC20 token on the Ethereum network, the ORBS token's separation of voting systems enhances governance transparency, allowing verification on external decentralized networks.

The total supply of ORBS tokens is fixed at 10 billion, and the token is pre-mined, avoiding inflationary measures common in some token economies. Orbs opts for sustainability by relying solely on operational fees rather than token holders subsidizing network activities. During the bootstrap phase, a capped pool, detailed as "Long-term Reserves," has been allocated to subsidize network activities and provide proof-of-stake token rewards, contributing to the long-term viability of the ecosystem.

Orbs Team Background and Partnerships

Orbs is led by a team of four individuals: Daniel Peled, who serves as the president and is also the co-founder and CEO of the Israeli fintech startup PayKey; Tal Kol, an expert in blockchain applications with a background in computer engineering and experience at Kin by Kik Interactive and Appixia; Netta Korin, with a Wall Street background in investment banking and hedge fund management, and notable philanthropic contributions; and Uriel Peled, a respected tech personality in Israel, consultant on various blockchain projects, and co-founder of the AR/VR startup Visualead, later acquired by Alibaba. Each member brings a unique set of skills and experiences to the Orbs team.

Orbs has a huge ecosystem, with its main investors/partners being GBBC, World Economic Forum, Cban, Paradigm, Yes24, DappRadar, TON Society, Ozys, DWF Labs, Scalably, and Samsung Blockchain.

Orbs Project Development

In the dynamic realm of decentralized finance (DeFi), strategic alliances are instrumental in propelling innovation and expansion.

Orbs proudly announces a significant achievement in its ongoing collaboration with Thena, a prominent decentralized exchange (DEX) on the BNB Chain. This partnership not only underscores a strong endorsement of Thena's vision and capabilities but also demonstrates a mutual dedication to shaping the future of decentralized finance through the utilization of Orbs layer 3 technology.

As part of this collaboration, Orbs will be making a strategic financial investment in the Thena project, signaling confidence in its potential. This financial support positions Thena to expedite its growth and development, taking advantage of Orbs' backing for pioneering initiatives in the decentralized exchange landscape. This investment represents a shared commitment to advancing the decentralized finance sector and establishes a formidable alliance between two forward-thinking projects.