What is Orbs (ORBS)?

What Is Orbs?

Orbs is a public blockchain infrastructure tailored for mass-use applications, offering an ideal blend of scalability, low fees, performance, and security. Orbs was established in 2017 by Daniel Peled, Tal Kol, Netta Korin and Uriel Peled. Their vision was to create a platform that seamlessly integrates blockchain virtualization and randomized proof-of-stake (RPoS) to ensure optimal blockchain scalability. This decentralized, transparent, and open network is designed to provide practical blockchain solutions for enterprises and other large-scale consumer applications.

Resources

Whitepaper: https://www.orbs.com/white-papers/

Official Website: https://www.orbs.com/

How Does Orbs Work?

Orbs operates as a Layer 3 (L3) protocol, complementing existing Layer 1 (L1) and Layer 2 (L2) solutions like Ethereum, TON, Polygon, and others. This multi-layered approach allows applications to leverage Orbs' enhanced execution services without migrating their liquidity to another chain. At its core, Orbs focuses on "Enhanced Execution." Traditional smart contracts face limitations, such as the inability to access external data or trigger future actions. Orbs addresses these challenges by functioning as a decentralized serverless cloud, enabling developers to augment smart contracts with L3 decentralized backend services. These services are executed by Orbs PoS validators, eliminating the need for centralized backend solutions.

What Is ORBS Token?

The ORBS token is an ERC-20 token that operates on the Ethereum platform. It is the primary payment method for all services on the Orbs platform. Users utilize the token to compensate infrastructure operators, and it's also instrumental in selecting validators and managing the protocol. The total supply of ORBS tokens is capped at 10 billion. This supply is generated through a process known as priming, with the distribution being: 55% for long-term reserves, 20% for private sales, 20% for the team and founding partners, and 5% for advisors.

What Determines Orbs's Price?

In the dynamic world of blockchain and Web3 technologies, the price of tokens like Orbs is influenced by myriad factors. At the heart of Orbs's price determination is the fundamental principle of supply and demand. As with any cryptocurrency, when demand for Orbs surges, often due to positive latest news or favorable cryptocurrency trends, its price tends to rise. Conversely, when demand wanes, perhaps due to security concerns or negative cryptocurrency analysis, its price might see a decline. Cryptocurrency charts and cryptocurrency price predictions further offer insights into potential future price movements, although they should be approached with caution, given the inherent unpredictability of the market.

Market volatility, a hallmark of the cryptocurrency realm, plays a significant role in Orbs's price fluctuations. Factors such as cryptocurrency regulation, the best crypto investment for 2023 and beyond, and the latest developments in the blockchain space can lead to sudden and significant price swings. Additionally, as cryptocurrency adoption grows, external elements like geopolitical events or macroeconomic shifts can also impact Orbs's valuation. For those wondering where to buy cryptocurrency, Orbs can be traded on leading exchanges such as Bitget. However, potential investors should remain vigilant of cryptocurrency risks and conduct thorough research before diving into the market.