Orbs

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Orbs?

Orbs (ORBS) is a public blockchain infrastructure that offers scalability, low fees, high performance, security, and ease of use. It is a hybrid blockchain that bridges the gap between public and private blockchains, allowing businesses to develop applications with both permissionless and permissioned features. The Orbs network uses a proof-of-stake (PoS) consensus mechanism and features virtual chains, polyglot smart contracts, and a unique consensus algorithm called Helix. The native token, ORBS, is an ERC-20 token that fuels all activities on the Orbs blockchain, including smart contracts, transaction fees, and consensus-based storage.

How is Orbs used?

Orbs (ORBS) is a Layer 3 blockchain designed to enhance the capabilities of smart contracts. It operates as a separate execution layer between Layer 1/2 solutions and the application layer, improving the performance and scalability of decentralized applications (dApps) and DeFi projects.

How do I store Orbs?

To store Orbs (ORBS) tokens, you can use KuCoin, a cryptocurrency exchange that supports the storage and trading of ORBS tokens. Once you have purchased ORBS, you can store them in your KuCoin account, which allows you to trade them in the spot and futures markets.

How to buy Orbs?

To buy Orbs (ORBS) tokens, you can follow these steps:

  1. Find a Reliable Centralized Exchange:

    • Go to CoinMarketCap's Markets section to find a list of centralized exchanges where Orbs is listed.
    • Choose a reliable exchange like KuCoin or Bitget.
  2. Create an Account:

    • Sign up on the chosen exchange with your email address, mobile phone number, and country of residence. Create a strong password to secure your account.
  3. Secure and Verify Your Account:

  • Set up two-factor authentication (2FA) and anti-phishing codes for stronger protection.
  • Verify your identity by providing personal information and uploading a valid Photo ID.
  1. Add a Payment Method:

    • Add a credit/debit card or bank account after verifying your account.
  2. Buy Orbs:

    • Use your added payment method to buy Orbs on the exchange. You can place market orders or limit orders to buy Orbs at a specified price.

Alternatively, you can also use a decentralized exchange (DEX) like 1inch by connecting your crypto wallet, such as Trust Wallet, and trading Ethereum for Orbs.

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History of Orbs

The history of Orbs (ORBS) began in 2017 when the project was founded by Tal Kol, Daniel Peled, Netta Korin, and Uriel Peled. Tal Kol, an experienced engineer and multiple-time entrepreneur, leads the technology, engineering, and product strategy for Orbs. Daniel Peled, with a background in law, technology, and economics, serves as the president. Netta Korin brings over 15 years of experience serving on various boards, and Uriel Peled heads strategic partnerships and is also the CEO of a cryptocurrency-focused hedge fund called Moment Capital.

Orbs was launched in March 2019 and has since evolved to focus on DeFi and Web 3.0 applications. The project has undergone significant adjustments to stay relevant in the changing ecosystem. The Orbs Network is powered by the ORBS token, which is used to settle fees and incentivize the election of validators, known as Guardians, through a proof-of-stake consensus mechanism.

The project has developed a full blockchain stack from scratch, which is fully open source and available on Github. This includes a consensus algorithm, smart and client SDKs, a local development server, and a block explorer called Prism. Orbs has also been involved in DeFi initiatives, such as sponsoring the DeFi.org accelerator with Binance and Moonstake, to support new projects building DeFi solutions.

Orbs has expanded its reach by integrating with various blockchain ecosystems, including Ethereum and Binance Smart Chain. The project has introduced bridges and liquidity pools to facilitate this integration. Additionally, Orbs has collaborated with other DeFi platforms, such as PancakeSwap, Alpaca Finance, Beefy Finance, and WowSwap, to further its presence in the DeFi space.

Today, Orbs continues to evolve as a Layer 3 infrastructure, enhancing the capabilities of smart contracts and providing decentralized backend services to DeFi and Web 3.0 applications.

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How Orbs works

Orbs (ORBS) is a decentralized public blockchain that supports full DeFi programmability and the creation of complex DeFi applications. It operates as a Layer 3 (L3) protocol, running over existing Layer 1 (L1) and Layer 2 (L2) blockchains, enhancing the capabilities of existing smart contracts without moving liquidity onto a new chain.

Decentralized Network

Orbs relies on a secure network of permissionless validators using Proof-of-Stake (PoS) consensus. Dozens of independent validators, known as Guardians, have been running on the production Orbs mainnet since 2019. These Guardians are elected using PoS, where they stake ORBS tokens in smart contracts running on Ethereum and Polygon. Additionally, they can receive delegated stake from Orbs community participants, ensuring strong security guarantees backed by Ethereum itself.

Layer 3 Protocol

Orbs acts as a decentralized execution layer between existing L1/L2 solutions and the application layer. It enhances the capabilities of existing EVM and non-EVM smart contracts, opening up new possibilities for Web 3.0, DeFi, NFTs, and GameFi. By operating as a decentralized serverless cloud, Orbs allows developers to extend smart contracts with L3 decentralized backend services, which are executed by Orbs PoS validators.

Key Features
  • Independent App Governance: Orbs allows each app to govern itself through isolation between virtual chains, avoiding forks and potential roll-backs associated with failures or disagreements faced by other apps.
  • Unlimited Scalability: More resources are automatically deployed with every new virtual chain, ensuring Orbs can scale horizontally as demand increases without slowdowns.
  • Code in Any Language: Orbs supports any major programming language, eliminating the need to code in a specific language like Solidity.
Token and Validators

The Orbs network is powered by the ORBS token, which is used to settle application execution fees. The token is also used to elect a public network of permissionless validators (Guardians) in a secure and decentralized manner. Guardians operate the Orbs network by running validator nodes and processing transactions, ensuring the security of the network. Delegators, who are token holders, assign their voting weight (stake) to Guardians, helping them maintain security and uphold the long-term vision of the Orbs ecosystem.

Overall, Orbs provides a highly efficient environment for smart contracts, offering a unique solution for decentralized applications and enhancing the capabilities of existing blockchain infrastructure.

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Orbs's strengths

The token Orbs (ORBS) has several strengths that contribute to its potential and value:

  1. Strong Funding: Orbs conducted a successful ICO in May 2018, raising $118 million. This significant funding has allowed the project to invest in its development and growth.

  2. Unique Solution: Orbs offers a hybrid public blockchain infrastructure that enhances the capabilities of existing EVM and non-EVM smart contracts. This allows businesses to create decentralized blockchain applications without requiring technical knowledge, making it more accessible and user-friendly.

  3. Scalability: By operating as a decentralized backend, Orbs provides a scalable solution for DeFi, Web 3.0, NFTs, and GameFi applications. This scalability is crucial for large-scale adoption and complex use cases.

  1. Security: Orbs uses a Proof-of-Stake (PoS) consensus mechanism, which ensures the security and integrity of the network. This mechanism also incentivizes validators to participate and maintain the network.

  2. Interoperability: As an Ethereum interoperable blockchain, Orbs can leverage Ethereum's ecosystem, liquidity, and scalability. This interoperability makes it easier for businesses to adopt blockchain technology without having to start from scratch.

  3. Diverse Team: The founding team of Orbs consists of experienced professionals from various backgrounds, including blockchain, finance, and technology. This diversity brings valuable insights and expertise to the project.

  1. Strong Tokenomics: The ORBS token is the primary means of payment within the ecosystem and plays a crucial role in governance and staking. This ensures that the token has a clear use case and is essential for the network's operation.

  2. Wide Availability: ORBS is listed on over 20 exchanges, making it easily accessible to investors and users.

These strengths position Orbs as a well-funded and innovative project that addresses key challenges in the blockchain space, making it an attractive option for businesses and investors alike.

Orbs's risks

Orbs (ORBS) is a cryptocurrency that carries significant financial risks. As a high-risk investment, it is essential to understand that investing in ORBS can result in the loss of all invested capital. The cryptocurrency market is highly volatile, and Orbs is no exception.

Orbs is available for purchase on several exchanges, including Uphold, KuCoin, and Gate.io, but restrictions may apply depending on the location of the investor. These exchanges often come with disclaimers highlighting the risks involved in investing in cryptocurrencies like ORBS.

The Orbs Network is designed to provide added performance and functionality to L1/L2 networks, but its innovative nature also means that it is still a relatively new and untested technology. This can lead to uncertainties and potential pitfalls for investors.

Additionally, Orbs is an open-source blockchain network that provides full programmability to dapp developers. While this can be beneficial, it also means that the network is more susceptible to potential security risks and vulnerabilities.

In terms of risk assessment, Orbs has been given a moderate risk score by InvestorsObserver, indicating that it is not an extremely high-risk investment but still carries significant risks. The scoring system takes into account factors such as market capitalization, volume, and price movements to determine the risk level.

Overall, investing in Orbs (ORBS) should be approached with caution, and investors should be prepared to potentially lose all their invested capital.

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Did Orbs raise funds?

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Orbs’s team

  • Tal Kol: Co-founder of Orbs, experienced engineer, and multiple-time entrepreneur, leading the technology, engineering, and product strategy.
  • Daniel Peled: Co-founder and president of Orbs, specialist in law, technology, and economics, with prior experience founding a mobile banking solutions firm called PayKey.
  • Netta Korin: Co-founder of Orbs, with over 15 years of experience serving on various boards in the U.S. and Israel, and having advised on special projects for the Ministry of Defense.
  • Uriel Peled: Co-founder and head of strategic partnerships at Orbs, also CEO of a cryptocurrency-focused hedge fund called Moment Capital.
  • Rotem Yakir: Senior software engineer at Orbs, co-founder of MySP and Guggy, with experience in B2B and B2C startups.
  • Yuval Aviguy: Senior software engineer at Orbs, veteran software engineer with over 20 years of experience, previously worked at Taboola and Montiera Technologies.
  • Doron Aviguy: Senior software engineer at Orbs, full-stack team leader at Taboola, crypto enthusiast since 2014, and early adopter of DeFi.
  • Ami Hazbany: Senior software engineer at Orbs, founder of Algora Capital, an AI-driven quantitative hedge fund focused on cryptocurrency markets.

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