Orbs is a public blockchain infrastructure that merges scalability, low transaction costs, high performance, security, and user-friendliness.
Built to accommodate large-scale applications, the platform supports a comprehensive blockchain stack. Orbs operates as a decentralized, open, and transparent network, delivering practical blockchain solutions tailored for enterprises and large-scale consumer applications.
The Orbs protocol utilizes the ORBS token, which is instrumental in calculating transaction fees for applications and providing incentives for selecting validators, thereby maintaining network integrity. This token acts as the sole payment method on the Orbs platform.
Launched in 2017, Orbs was developed by a team of seasoned engineers, entrepreneurs, and scientists who successfully crafted an infrastructure that leverages blockchain virtualization and a randomized proof-of-stake (RPoS) mechanism to achieve scalability.
Who Founded Orbs?
Orbs was founded by a team of four individuals: Daniel Peled, Tal Kol, Netta Korin, and Uriel Peled.
Daniel Peled serves as the president of Orbs and is also a co-founder and CEO of an Israeli fintech company called PayKey. He is a seasoned member of the Israeli Bitcoin community with an LLM and a Bachelor of Science in Economics.
Tal Kol, who holds a Bachelor of Science in Computer Engineering from the Technion in Haifa, Israel, is an expert in blockchain applications. He previously led the engineering team at Kin by Kik Interactive and co-founded Appixia, a mobile app startup acquired by Wix.com.
Netta Korin started her career on Wall Street as an investment banker before transitioning to a hedge fund manager role. She has a robust background in philanthropy and served as a senior advisor to Deputy Minister for Diplomacy Dr. Michael Oren in the Israeli Prime Minister's Office before joining Orbs.
Uriel Peled is known for his consultancy work on various blockchain projects, making him one of Israel's most respected tech figures. He holds a degree in electrical engineering from the Technion. Prior to Orbs, he co-founded Visualead, an AR/VR startup that was acquired by Alibaba.
What Distinguishes Orbs (ORBS)?
Orbs is a distinctive public blockchain platform that supports smart contracts and enhances existing Ethereum standards. This synergy allows decentralized applications (DApps) on Orbs to benefit simultaneously from both blockchains, gaining advantages in security, liquidity, affordability, scalability, and payment infrastructure accessibility.
How Many Orbs (ORBS) Tokens Are in Circulation?
Orbs is an ERC-20 token operating on the Ethereum network, serving as the primary payment method for all services on the Orbs platform. Through these tokens, users pay for services from infrastructure providers and participate in the selection of validators, as well as the overall governance of the protocol.
The network has a fixed total supply of 10 billion ORBS tokens, produced through a process known as priming. The distribution is allocated as follows: 55% for long-term reserves, 20% for private sales, 20% for the team and founding partners, and 5% for advisors.
How Is the Orbs Network Secured?
The foundation of Orbs' security and functionality is its proof-of-stake (PoS) ecosystem, which ensures the platform's efficient operation for decentralized applications (DApps).
Randomized proof-of-stake (RPoS) combines speed with security. In each consensus round, validators are chosen from small, random committees, ensuring decentralization and security. This selection process helps achieve consensus through a model known as Helix, a Byzantine fault-tolerant and scalable algorithm where guardians and delegators stake tokens to choose validators.
Where Can You Purchase Orbs (ORBS)?
In the dynamic DeFi landscape, the Orbs blockchain platform has successfully established integrations with various decentralized exchanges (DEXs). As of July 2021, ORBS represents 0.01% of the total cryptocurrency market, with trading available on exchanges like Bithumb, KuCoin, Bittrex, OKEx, Indodax, ProBit Global, Upbit, Hotbit, Bilaxy, Coinone, Huobi Korea, LiteBit.eu, Bitsonic, KyberDMM, BHEX, and Bitbns.
Are you new to cryptocurrency? Check out our guide to learn how to purchase Bitcoin and other tokens.
