Orbs (ORBS)

 Basics

• Founded in:
• Mainnet release:
• Based in: Israel

Technology

• Whitepapers can be found here (26-10-2020).
• Code can be viewed here.
• Programming language used:

Transaction Details

• Capacity (TPS): "thousands of transactions per second" (26-10-2020).
• Latency:

How it works

• From their website (26-10-2020):

"The Orbs consensus model, Randomized Proof-of-Stake (RPOS), is both secure and fast. Small random committees are chosen out of a large validator set for each round of consensus. The large validator set and randomization ensure security and decentralization while the small committees allow consensus to be fast and highly scalable.

The Orbs implementation of this model is called Helix – a Byzantine fault tolerant algorithm which relies on the Orbs Proof-of-Stake ecosystem where Guardians and Delegators use stake to elect Validators.

Advantages:

1. Highly scalable to thousands of transactions per second
2. Speed is maintained and security increases as the number of nodes increase
3. Each virtual chain can choose its consensus model “flavor” – optimized for latency, throughput, fairness and cost-savings
4. Byzantine fault tolerance"

Interoperability

• From their website (26-10-2020):

"Orbs smart contracts provide seamless cross-chain access to Ethereum state under consensus. This allows apps running on Orbs to leverage the power of Ethereum directly without leaving the platform.

An example of this technology is autonomous swap, a secure mechanism that allows developers to move part of the base-layer assets (ex: ERC-20 tokens) to run on Orbs for their utility while keeping other parts on the base-layer for trade."

Their Other Projects

DeFi.org

• From Cointelegraph (11-1-2021):

"Orbs and Binance announced Monday the launch of a new accelerator for the DeFi ecosystem. Named DeFi.org, the accelerator focuses on supporting the research and development of open-source software and community development in the DeFi space. The accelerator will evaluate projects based on their innovativeness and composability within the space, as well as principles of fair distribution, community ownership, sustainable economics and a sound approach to risk management.

In line with the sponsorship, startups will have additional consideration if they are willing to apply for participation in Binance’s “Bridging DeFi and CeFi” program or the Orbs Grant Program. The wider accelerator program is, nonetheless, blockchain agnostic and allows anonymous developers to participate as well.

The sponsorship also marks an upcoming transition to DeFi for the Orbs project. One of the accelerator’s mentors is Tal Kol, technical co-founder of Orbs. According to the team, he led efforts to research and develop DeFi protocols in-house. Orbs has previously focused on enterprise adoption, but its proof-of-stake consensus algorithm is using an Ethereum-based token to represent value, making DeFi integrations easier than with most other layer-one blockchains."

Roadmap

• Can be found here (26-10-2020).

Audits

• Bug bounty program can be found [insert here].

Usage

Projects that use or built on it

• Paradigm launched an AMM division that will provide community engaging services to Orbs (14-10-2020).

Team, Funding, Partnerships, etc.

Team

• Full team can be found here.
• Tal Kol; co-founder

Partners 

• From State of Stake #32 (18-9-2020):

"Orbs has been chosen, along with other industry members, such as Consensys and Corda, to participate in the CBAN initiative. CBAN was initiated by the GLF (Global Leaders Forum), the main collaboration forum for the wholesale telecom business, backed by some of the biggest telecom carriers globally, including names like Orange, Deutsche Telekom, and Telefonica."