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What is the Orbs Network; Familiarity with ORBS network and ORBS token

What is the Orbs Network;  Familiarity with ORBS network and ORBS token

AOrbs Blockchain infrastructure is decentralized and open source. This network was launched in March 2019 and seeks to increase the functionality and efficiency of smart contract protocols compatible with the Ethereum Virtual Machine (EVM). By combining Proof of Stake (PoS) and virtual blockchain infrastructure, Erbes provides the necessary tools to develop more efficient decentralized applications. The network has a token with the symbol ORBS, which is used to pay fees and reward network participants. In this content, we discuss that What is Network Orbs?How does it work, what services does it have, What is the ORBS token? And then we will review the development team, network roadmap, project investors, how to buy and sell and maintain Erbes cryptocurrency. Stay with the country of blockchain.

What is Network Orbs?

What is Network Orbs?
Source: currentcrypto.nl

Orbs It is a decentralized blockchain infrastructure and is designed to integrate with Ethereum Virtual Machine (EVM) compatible layer 1 blockchains such as Ethereum and Binance Smart Chain. Orbes infrastructure is completely license-free and open source. The consensus algorithm of this network is Proof of Stake (PoS) and has a token with the symbol ORBS. This token is used to pay network fees and provide financial incentives to validators (called Gaurdians in this network).

But What is the purpose of Erbes network?? Orbs is looking to introduce a new infrastructure layer. Current Layer 1 and Layer 2 infrastructure chains generally support EVM-compatible smart contracts. These smart contracts are very efficient in securing and processing Total Value Locked (TVL); But they have limited capabilities. But what if we add a new layer on top of these layers and call it layer 3? What if the third layer can work together with the first and second layers and expand the capabilities of smart contracts? Look at the image below for a better understanding.

The infrastructure layers of Erbes network
Source: Orbs.com

If we want to check the application of this third layer in the overall blockchain stack, it will be as follows:

  • The first infrastructure layer (such as the Ethereum network) that is responsible for providing security.
  • A second infrastructure layer (like Polygon) that is responsible for improving scalability.
  • The third infrastructure layer that expands the capabilities of decentralized programs by providing the necessary services and tools.

The Orbes network architecture is designed to be compatible with EVM compatible blockchains such as Ethereum, Binance Smart Chain, Polygon, Avalanche, etc. These chains are leading in terms of liquidity and number of users. But how will Orbs help decentralized applications? Let us answer this question with an example.

One of the popular types of DeFi applications is yield farming pools such as Yarn Finance. These types of dapps are a type of hedge fund. That is, where the user can deposit his capital and the fund manager gives the user a profit by working with the capital. The income of these applications comes from the profit of the users. For example, Harvest Finance takes 30% of the user’s profit as a fee.

In general, the strategies employed by these funds are very simple and limited. Most of these funds take cash tokens or LP tokens and put them in another pool for staking or depositing rewards, and then with the resulting rewards, they buy other LPs and rotate it several times on different platforms and give double profits. In the image below, you can see how a standard interest fund works:

How the standard DiFi box works
Source: Orbs.com

Complex strategies can be more profitable. Layer 3 infrastructure like Orbs will help with this by implementing smarter funds. Since the Ethereum virtual machine can consider limited modes for decision-making, the funds’ strategy should be very simple; But imagine an infrastructure that could implement smarter strategies. For example, based on APY or annual return percentage, it can automatically rotate between different positions or take a loan at a specific and optimal time for more profit. Such a dynamic infrastructure enables platforms like Yearn Finance to get more profit for users and multiple income for themselves; This additional revenue can be split between the Dapp and the third layer. The Orbs network can provide the necessary infrastructure for such applications.

How does Orbes work?

How does the Orbs network work?
Source: CoinBureau

Arbes is a hybrid blockchain that works both as an independent blockchain and takes help from Ethereum and Polygon network for more security and implementation of PoS logic. The ORBS token is capable of staking, handing over and voting in Ethereum smart contracts. As we mentioned before, Arbes uses proof of stake. Right now, the third version of Erbes PoS is active, called Multi-Chain Staking, which uses hybrid architecture and cross-chain technology for staking in Ethereum and Polygon.

Virtual chains are one of the features of the Orbs network. Virtual chains are sharded chains that are run by nodes and actually provide them with a dedicated and separate blockchain. Virtual chains reach consensus independently and run network computations in parallel. One of the advantages of parallel chains is to reduce the memory required for the virtual machine. Other advantages of the parallel chain include the following:

  • Each program has its own separate virtual chain.
  • Developers can design the consensus protocol and governance model to suit their application.
  • Separating the chains and running them independently prevents mainnet congestion.

There are two categories of participants in Erbes network:

  • Guardian Nodes (GUARDIANS)

Applications running virtual chains on Erbes pay fees directly to Guardians. This fee is the cost of computing resources that Guardians spend on virtual chains. Guardians receive at least 3.33% of Delegators’ staking rewards.

Guardian nodes represent the Erbes community and have the following tasks:

  • Running Orbs network nodes and applications on its platform.
  • Distribute staking rewards to your delegates.
  • Since Erbes Blockchain is hybrid and uses Ethereum and Polygon, Guardians can choose to be an Ethereum or Polygon node.
  • Guardian nodes can be members Accreditation Committee and run virtual chains. Members of this committee are eligible to receive additional bonuses.

For more information on Guardian nodes this page read the

  • DELEGATORS

Delegators are ORBS token holders who delegate their voting power by staking their tokens to delegates (here Guardians). These people receive up to 6.66% of the annual income of the Guardian nodes. Staked tokens remain locked for 14 days. For more information on how to delegate to this page See.

What are Orbs Network Services?

The first product of the Orbs team is the DeFi Notifications Protocol. This service notifies users of such events through mobile phones. For example, in This video You can see that a user sets up the Aave protocol notification to be notified of liquidation. We introduce other products and services of Erbes network below.

  • Orbs Lambda: The cloud service is decentralized and serverless. With the help of this service, you can write your cloud functions with JavaScript language, without having technical knowledge of blockchain.
  • Orbs virtual machine (Orbs VM): Decentralized virtual machine is similar to AWS EC2 but decentralized. You can write Docker software in GO, JavaScript, Java, Python, and Rust.

Getting to know the ORBS token

What is the ORBS token?
Source: Medium.com

Orbs (ORBS) is an ERC20 token on the Ethereum network. This token is used to pay for Arbes services. Also, this token is used to select Arbes network validators. The total supply of Arbes tokens is 10 billion. This token is pre-mined and has a fixed supply. ORBS cryptocurrency has the ability to bridge or transfer to Binance, Polygon, Solana, Avalanche, Harmony and Phantom smart networks.

ORBS token distribution model

  • 55% of long-term savings (for development, ecosystem and partners)
  • 20% of private sales
  • 20% of the team and partners
  • 5% of consultants

According to Mihan Blockchain, the total supply of this cryptocurrency is 10 billion, of which 2,920,696,296.28 units of ORBS are in circulation. ORBS digital currency It ranks 225 in terms of market value. The total market value of Erbes cryptocurrency is $114,019,179 and its 24-hour trading volume is $3,358,046. The price of ORBS is currently $0.04. Orbs token It recorded the lowest price of 0.0046 dollars on 29 December 2019 and the highest price of 0.36 dollars on 26 March 2019.

Orbs network roadmap

The Arbes project has not developed a comprehensive road map and published updates on weblog He is self-sufficient. According to the site information Path The project started its work with a private token sale in June 2018 and released the alpha version of its test network in the same month. In December 2018, the beta version of the main network was launched. The ORBS token was launched in March 2019.

Who are the developer team and investors of the Orbs project?

  • Daniel Peled He is the manager and one of the founders of the Orbes project. He is also the CEO and founder of PayKey (a fintech company active in the field of investment).
  • Uriel Peled He is the co-founder of the Orbes network and a consultant for blockchain projects. He launched the Visualead project, which was later bought by Alibaba.
  • Tal Kol He is the third founder of Erbes project. He previously launched the mobile app Appixia, which was later acquired by Wix.com. Tal Dorei was the head of Wix’s mobile engineering department. He also has experience working at Kik as the head of Kin token engineering.
  • The fourth founder of the Orbs project Netta Korin He has worked as a consultant in the Israeli Ministry of Defense and as a consultant to the deputy minister in diplomatic affairs.

Arbes network investors

This project has attracted funds from two unknown investors on December 13, 2018 and December 15, 2018. The total capital collected in these two stages is 111 million dollars.

What projects has Erbes collaborated with?

Erbes and Revault Network started their cooperation in April 2022. This collaboration aims to use Orbes layer 3 architecture capabilities to improve the security and facilities of the Revault network. Revault It is a fund aggregator and similar to Google search engine for DeFi projects. The Revault engine automatically searches for investment opportunities and deposits assets into the best possible fund.

Arbes with protocol Graph cooperates Graph is the most prominent indexing protocol for searching networks like Ethereum and building and providing open source APIs. In this way, users will have access to Erbes data. Graph makes it easy for users who are used to traditional databases to work with information stored on the blockchain and historical data without having to run a node.

From which exchanges should we buy ORBS token?

You can buy and sell Orbs token on top tier exchanges such as Kocoin, FTX and Gate. Also, this token is listed in decentralized exchanges such as UniSwap, SushiSwap, QuickSwap, Trader Joe’s and SpookySwap.

Orbs cryptocurrency compatible wallets

To store Orbs, you must use wallets compatible with the Ethereum network. ERC20 wallets include Metamsk, TrustWallet, Rabby Wallet, MyEtherWallet, and Ledger and Trezor hardware wallets.

FAQ

Questions and answers of the blockchain homeland
  • What is Orbs network?

Orbs network It provides a decentralized and open source infrastructure for designing applications compatible with the Ethereum virtual machine. The purpose of designing this network is to increase the scalability of Ethereum-based projects by adding a new and functional layer.

ORBS is an ERC20 token on the Ethereum network. This token is used to pay for Erbes network services and staking in the network and to reward nodes.

  • Where to buy Token Orbs?

youKEN ORBS You can buy from centralized exchanges like Kocoin, Gate and FTX, as well as DEXs like UniSwap, SushiSwap, QuickSwap, Trader Joe’s and SpookySwap.

  • What is the price of ORBS token?

The price of ORBS is currently 4 cents. To see the current price of Orbs cryptocurrency, go to the cryptocurrency price page Blockchain homelandrefer to

Conclusion

Orbs is an infrastructure project that provides tools and services for scaling applications on EVM compatible networks. Developers can build decentralized applications without the need for technical knowledge. This project is currently focused on DeFi applications and its goal is to develop and improve the performance of smart contracts in layer one networks based on virtual machines.

Your opinion about What is Network Orbs?? Can it find its place in the dynamic blockchain ecosystem? Share your thoughts with us.

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