Ethereum is considered the pioneer of decentralized finance, applications and the smart contract technology. While Bitcoin still leads the market on the virtue of first mover advantage, Ethereum’s offerings place it at a crucial position in the cryptocurrency market. However, the cryptocurrency is far from perfect. The bull run of 2021 brought into light various problems that have the potential to cripple the cryptocurrency. During the high of the bull run, Ethereum suffered from scalability problems. The network was clogged due to high activity which resulted in exorbitantly high gas fees.
Various projects have been launched in the crypto market that have expanded on Ethereum’s technology; however, none of them has been able to reach anywhere close to Ethereum’s ranking. This is why some projects play smart and attach themselves to Ethereum rather than competing with it. In this guide, we will delve into Orbs and how the project has the capability to boost Ethereum.
What is Orbs?
Orbs is a public blockchain with a focus on scalability, ease of use, cheaper fees, performance and security to name a few. The project is essentially targeting all of the problems that often plague blockchains. The Orbs blockchain is a full stack ecosystem of its own designed to facilitate the mass use of decentralized applications. However, what sets it apart is how Orbs can work in tandem with Ethereum’s blockchain to offer unparalleled services to crypto users.
Orbs can act as a generation layer to Ethereum. Users of Ethereum can integrate Orbs into Ethereum to benefit from the power of two blockchains simultaneously. Orbs Virtual Chains and Randomized Proof-of-Stake consensus mechanism enables the platform to support a lot more traffic than Ethereum can. Developers on Ethereum can enjoy added security and scalability through Orbs’ technology.
Recent developments to watch out for
The unique architecture of Orbs which allows it to work besides Ethereum contributes to the bright future of the project. Orbs had been named as one of the top ten promising projects with a market capitalization of under $300 million by G.Crypto. The development team of the project is also highly active.
Orbs recently announced an integration with Avalanche. The platform is now available on Avalanche through the AnySwap cross-chain bridge. This marks a monumental movement for the network as Orbs is now live on all major Layer-1 chains – Ethereum, Binance Smart Chain, Solana, Polygon and Avalanche. Orbs has also integrated with over 17 major DeFi projects including Uniswap and PancakeSwap. The integrations have fueled the activity on the network and a lot of innovative and interesting projects are being worked on. The future has a lot in store for Orbs network and this project should be definitely watched.