What is Orbs (ORBS)?
Orbs (ORBS) is creating a platform that allows businesses to choose the blockchain they need – A combined public blockchain developed “for the real world.”
Orbs launched in March 2019, and since then, the project has attracted quite a bit of attention. It is an Ethereum interoperable blockchain platform that is expected to address the fundamental limitations that enterprise developers currently face with public blockchains.
Technology by Orbs
Virtual chains deliver the feel and benefits of a dedicated blockchain while running on a shared physical node infrastructure, enjoying the security and decentralization provided by the shared environment as well as the isolation and customization provided by virtualization.
Consensus on transactions of different virtual chains can be run independently, shared, and run concurrently on separate resources. The ledgers of virtual chains can also be maintained independently, and their calculation can be performed in parallel. Furthermore, isolating the state for each virtual chain reduces its virtual machine’s memory requirement.
- Each application operates its own virtual chain with the inherent sharding feature.
- Application developers choose their virtual chain’s governance model and consensus protocol.
- Autonomous governance and flexibility
- Isolate from congestion in other virtual chains.
- Able to start with a private version and then go public without having to migrate blockchains virtualization.
Orbs’ consensus model, the Randomized Proof of Stake (RPOS), is both fast and secure. Small randomized committees are chosen from a large set of validators that are established for each consensus round. The large validator set and randomization ensure security and decentralization while small committees allow for fast and highly scalable consensus.
The Orbs implementation of this model is called Helix – a Byzantine fault-tolerant algorithm based on the Orbs Proof-of-Stake ecosystem, where Defenders and Proxies use stakes to select Validators.
- Highly scalable up to thousands of transactions per second.
- Speed is maintained, and security increases as the number of nodes increases.
- Each virtual chain can choose its “flavor” consensus model – optimized for latency, throughput, fairness, and cost savings.
- Byzantine fault tolerance.
- Orbs rPoS.
Orbs smart contracts provide seamless cross-chain access to the Ethereum state under consensus. This allows applications running on Orbs to leverage the power of Ethereum directly without leaving the platform.
- Avoid difficult token migration when moving between blockchains.
- Developers can use their base layer token ecosystem (wallets and exchanges).
- Tokens can be held on a Proof-of-Work base layer for added security without downsides in performance and cost.
- Take advantage of the base class liquidity while utilizing Orbs’s scalable production environment.
Daniel Peled – President & Co-Founder
Daniel is a co-founder and CEO at PayKey, an Israeli Fintech startup with investors such as MasterCard and Santander InnoVentures. He is also a veteran member of the Israeli Bitcoin community and was the first in Israel to ICO a blockchain company. Daniel holds an LLM and a BA in Economics.
Tal Kol – Co-founder
Tal previously co-founded Appixia, a mobile apps startup acquired by Wix.com, and Wix.com’s Mobile Engineering Director. He is an expert in blockchain applications and former Head of Engineering at Kin at Kik Interactive. Tal is an open-source enthusiast, React ecosystem contributor, and conference speaker.
Netta Korin – Co-founder
Before Orbs, Netta served as Senior Advisor to General Mordechai on special projects in the Department of Defense, and Senior Advisor to Deputy Foreign Minister, Dr. Michael Oren, at the Prime Minister’s Office.
The Orbs project is building a public and unauthorized ecosystem where blockchain technology can disrupt the way business is done in the modern world. Since the launch of Orbs Network in March 2019, the project has been able to hit a number of milestones. Orbs recently celebrated the development and launch of Orbs V2: The Age of Guardians (beta) and reached 1 billion Orbs Tokens staked in the Orbs Proof-of-Stake Universe, accounting for 45% of the total Orbs Token.