Today, on April 16th, the Ethereum-interoperable hybrid blockchain system dubbed as Orbs (ORBS) launched on Microsoft Azure, a globally renowned cloud provider. The news comes just a week after Orbs launched on Amazon Machine Image (AMI) which is a digital catalogue utilised by developers working on Amazon Web Services (AWS).
Now that Orbs has been incorporated into two leading cloud providers, involved developers can now build a complete virtual machine image to start developing on Orbs.
An Overview of Orbs
The idea for Orbs was conceived by the Israel-based team and Tal Kol who at the time was working as the head of engineering of Kin cryptocurrency. Before establishing the Orbs team, Kol left the Kin project. Orbs was originally made to cater to existing businesses with a variety of applications utilising blockchain technology. Instead of the old-fashion Initial Coin Offering, Kol and his team sought private investors to fund the Orbs project in the beginning. According to Kol, the first few investors in Orbs were 21Mcapital, iAngels, and Kakao.
The consensus model that Orbs adopted is a Proof-of-Stake that employs Ethereum blockchain as its voting system, choosing validator nodes. Proof-of-stake is better known as an alternative to Bitcoin’s consensus model Proof-of-Work (POW). The reason behind using POS instead of POW is that it can handle a considerable amount of transactions.
Orbs validators are paid through apps in Orbs native token ORBS, who then proceed to pay for their hosting in fiat. This simple trade-off ensures that all hosted decentralised applications have high scalability.
Orbs Focus on DeFi
As mentioned above, Orbs works as an interoperable hybrid blockchain, and as we know that each decentralised finance or DeFi contract has a similar nature with every other contract. It is clear to see that the team behind Orbs is trying to bring more businesses who are currently CeFi players to experience DeFi’s innovative growth. Having AWS and now Microsoft Azure under its belt, Orbs is poised to get a large number of new developers on its ecosystem. DeFi would allow developers to start working just by looking at the DeFi contract’s API that is available to people on-chain.
Orbs is making its way to scale multiple virtual chains which are capable of running apps working with millions of transactions. Orbs technology stack is available for a risk-free test for interested developers.