Orbs (ORBS) is creating a platform that allows businesses to choose the blockchain they need – a hybrid public blockchain developed “for the real world”.
Orbs launched in March 2019, and since then, the project has garnered quite a bit of attention. This is an Ethereum interoperable blockchain platform that is expected to solve the fundamental limitations enterprise developers currently face with public blockchains.
Orbs .’s Technology
Virtual chain provides the feel and benefits of a dedicated blockchain while running on a shared physical node infrastructure, enjoying the security and decentralization offered by shared environments as well as isolation , customization provided by virtualization.
Consensus on transactions of different virtual chains can be run independently, shared and run concurrently on separate resources. Ledgers of virtual chains can also be independently maintained, and their computations can be done in parallel. Furthermore, isolating state for each virtual thread reduces the memory requirements of the virtual machine.
- Each application operates its own virtual chain with inherent sharding characteristics.
- Application developers choose their virtual chain governance model and consensus protocol.
- Autonomous and flexible governance
- Break out of bottlenecks in other virtual chains.
- It is possible to start with the private version and then go public without having to virtualize the blockchains.
Orbs’ consensus model is random PoS (RPoS), which is fast and secure. Small committees randomly selected from a large set of validators are formed for each consensus round. Large and random validators ensure security, decentralization while small committees allow for rapid and highly scalable consensus creation.
The Orbs implementation of this model is called Helix – a Byzantine fault-tolerant algorithm based on the PoS Orbs ecosystem, where defenders and proxies use stakes to select validators.
- High scalability up to thousands of transactions per second.
- Speed is maintained and security increases as the number of nodes increases.
- Each virtual chain can choose an “additional” consensus model – optimized for latency, throughput, fairness, and cost savings.
- Byzantine fault tolerance.
- RPoS Orbs.
Orbs smart contracts provide seamless cross-chain access to 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 PoW base layer for added security without sacrificing performance or increasing costs.
- Leverage base layer liquidity while using Orbs’ scalable production environment.
Daniel Peled – Co-Founder & President
Daniel is the co-founder and CEO at PayKey, an Israeli financial-technology startup with investors like MasterCard and Santander InnoVentures. He is also a veteran member of the Bitcoin Israel community and the first person in Israel to ICO a blockchain company. Daniel holds a Master’s degree in Law and a Bachelor’s degree in Economics.
Tal Kol – Co-Founder
Tal previously co-founded Appixia, a mobile app startup acquired by Wix.com, and was Wix.com’s Director of Mobile Engineering. He is an expert in blockchain applications and is the former Head of Engineering for Kin at Kik Interactive. Tal is an open source enthusiast, React ecosystem contributor, and conference speaker.
Netta Korin – Co-Founder
Prior to Orbs, Netta served as Senior Advisor to General Mordechai on special projects in the Ministry of Defense and Senior Advisor to Dr. Michael Oren – Deputy Foreign Minister in the Prime Minister’s Office.
The Orbs project is building a public and unattended ecosystem where blockchain technology can redefine the way business is done in the modern world. Since Orbs Network launched in March 2019, the project has been able to achieve a number of important milestones. Orbs recently celebrated the development and launch of Orbs V2: The Age of Guardians (beta) and achieved 1 billion ORBS tokens placed in the Orbs PoS World, representing 45% of all ORBS tokens.
According to AZCoin News
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