Orbs is a public blockchain infrastructure that combines the major needs of the blockchain sector such as top performance, minimal fees, and high scalability in an easy-to-use interface. The platform was primarily designed for mass-use applications, and also supports a total blockchain stack. Orbs as a network is decentralized, transparent, and open in its offerings of practical blockchain solutions for enterprises and other consumer applications that exist on a large scale. The Orbs protocol makes use of the ORBS token for several functions, including the calculation of commissions for the execution of applications on the network, as well as the provision of an incentive protocol used in the random selection of validators; an action that ensures the integrity of the platform is at the highest point. Additionally, the token stands as the only means of payment used on the network till present.
The Orbs platform was created in 2017 and based on the team that executed its development, the platform is one of the best of its kind in the industry as it incorporates not just blockchain technology and engineering, it also contains a business side. This has helped scientists form an infrastructure that makes use of blockchain virtualization and a randomized staking mechanism to uphold its scalability.
Who are the Founders of Orbs (ORBS)?
As previously stated, the Orbs platform was founded by a group of individuals with diverse backgrounds in science, technology, and finance. The network is primarily founded by four people: Daniel Peled, Tal Kol, Netta Korin, and Uriel Peled.
Currently serving as the CEO, Daniel Peled is one of the co-founders of the platform and is also the president of Orbs. Besides Orbs, Peled is also tied to other technology platforms including a fintech startup named PayKey. Peled is credited by the Israeli Bitcoin community as a veteran. He is also a well-educated professional as he holds an LLM and a Bachelor’s degree in Economics.
Tai Kol, a fellow founding partner, also holds a Bachelor’s degree, but in computer engineering from the Technion University in Haifa, Israel. His main area of expertise lies in blockchain applications and before he became part of the Orbs network, he served as the head of engineering at Kin by Kik interactive. He is also a co-founder of Appixia, a mobile application startup that was bought by Wix.com.
What is Orbs (ORBS) used for?
The Orbs network in general is an open-source blockchain infrastructure that was designed for mass usage applications, while also offering developers an adequate mix of cost-effectiveness, performance, security, and an easy to use interface. As a decentralized network, the Orbs protocol uses a permissionless system where stakes are used in reaching a consensus. The platform was initially designed to facilitate only blockchain-related solutions, but later a business side was incorporated within the blockchain and that led to the creation of a competitive platform that offers its users low fees for high scalability. Because of this function, the network has been able to meet the needs and demands of several large-scale consumer applications.
The platform’s native token, ORBS serves as the fuel for the network and the execution of activities on the blockchain. These include smart contacts, as well as transaction fees, and consumer-based storage. It also presents a unique trading opportunity with other tokens like MKR and Dash.
What Is the Unique Point of Orbs (ORBS)?
The Orbs network, as a public blockchain system, supports smart contracts and works by complementing the standards that already exist on the Ethereum blockchain. This combination provided by the Orbs and Ethereum blockchain provides the decentralized applications on the platform with the ability to use the strengths of both chains at the same time. Thus, the system is able to enjoy liquidity, security, low tariffs, top-tier scalability, and direct access to payment structures. Some of the other benefits directly related to blockchain technology include
* Seamless transfer of tokens between the chains.
* Developers have direct access, not only to the ecosystem but also to its wallets, tokens, and exchanges.
* With Orbs’ scalable production environment, users have access to the benefits of basic liquidity.
The Orbs network is known to have two major roles which cut across its entire ecosystem and these are the Delegators and the Guardians. The Delegators are holders of the ORBS token who have assigned their voting power to the guardians. The guardians, on the other hand, are tasked with the responsibility of keeping the network safe. These guardians are essentially represented in the network through delegated stakes and have the power to vote for validators without going through the stipulated protocol. In addition to this, the Orbs network also developed two technologies which are the virtual chains and randomized proof-of-stake (RPoS). The decentralized applications that make use of the Orbs network can access these tools to maximize their performances and security.
How many Orbs (ORBS) coins are in circulation?
The ORBS token is an ERC-20 token that is developed and operated on the Ethereum blockchain. On any blockchain platform, the tokens are seen as the major means of payment for services executed and the same applies to the Orbs network. Through the tokens, the users are able to pay for the services used for the infrastructure operations. The token is also used in the selection of protocol managing validators on the system.
The network’s total token supply has been pegged at 10 billion ORBS tokens. Like several other Ethereum based tokens, this supply is fixed and was generated using a process called priming. The token distribution delegated 55% for long-term reserves, 20% for private sales, 20% for the team and founding partners, 5% for advisors.
Is the Orbs (ORBS) Network secured?
Ordinarily, the proof-of-stake model is the basis of the Orbs network and as such, the model ensures that the platform is secure and the operations carried out are smooth, thus leading to easy optimization of the platform for decentralized applications.
The proof of stake model of the network incorporates speed into its security provision. On the model, for each round of consensus, the platform makes a selection from a set of validators, which is executed by a small committee chosen at random. This randomization protocol used sets the pace for security on the network. Through the provision of the committee, the platform can achieve a consensus. The Orbs network also has a model known as Helix, which is a Byzantine fault-tolerant and scalable algorithm that allows guardians and delegates to select validators with their stakes.
How do I buy Orbs (ORBS)?
The Orbs network, in essence, offers members of the blockchain community the major advantage of security and scalability with its development via its underlying proof of stake algorithm. This has kept the platform completely safe from attacks in all its years of operation. The model is also responsible for the troops of people looking to join the network and that can be easily done by purchasing ORBS tokens through the steps below.
- Find a supported exchange and open a trading account with them.
- Then, deposit fiat money to the crypto account.
- After waiting for the transaction to be processed, buy your ORBS tokens.
Which Cryptocurrency Wallet Supports Orbs (ORBS)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as Orbs (ORBS). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their ORBS wallet because it offers a simple and interactive interface making it easy for people to navigate its system.
