Orbs Embraces Fantom Blockchain To Boost Its DeFi Infrastructure Credentials

Hybrid decentralized blockchain protocol Orbs made its DeFi ambitions perfectly clear today with the announcement that it’s expanding to become a part of the Fantom ecosystem. 

It’s a big boost for Orbs, which has built an interoperable architecture for DeFi apps that also works with Ethereum, Binance Smart Chain, Polygon, Solana, Avalanche and Harmony. 

The Orbs Protocol is a Layer-3 infrastructure network that boasts multichain proof of stake capabilities and aims to provide an alternative infrastructure for decentralized applications. Among its benefits, Orbs combines high efficiency and cost-effectiveness with strong security, enabling rapid and secure transactions at low speeds. By providing an isolated virtual chain infrastructure, Orbs aims to overcome the problem of congestion on popular DeFi networks such as Ethereum. 

With its rapidly growing DeFi ecosystem, the Fantom blockchain is the perfect partner for Orbs. Fantom launched its mainnet in December 2019 yet it has already become one of the most popular networks for DeFi, with over 100 Dapps and more than $12 billion in total value locked. 

Fantom is the home of DeFi apps such as Geist Finance, SpookySwap and Scream, which all individually boast over $1 billion in TVL. Meanwhile, other popular DeFi protocols such as Curve, Yearn Finance and SushiSwap have all announced integrations with Fantom, thanks to its EVM compatibility. 

Fantom is making a splash in the wider cryptocurrency ecosystem too, with its native token FTM currently ranked 37th out of all cryptocurrencies, according to Coinmarketcap. 

The big draw of Fantom is its Lachesis consensus protocol, a DAG-based aBFT consensus algorithm that relies on Lamport timestamps, graph layering and concurrent common knowledge to guarantee a consistent total ordering of event blocks and transactions. It enables Fanton to process high-throughput transactions and smart contracts at speed, at scale, with low transaction fees. Through this, Fantom claims it’s able to overcome issues such as slow transactions and expensive gas fees that hinder DeFi apps built on the Ethereum network, for instance.  

Orbs said in a blog post that it sees a lot of advantages to be had from integrating with Fantom, with the main one being the opportunities that now exist to work with native DeFi protocols on the Fantom blockchain. The integration will also bring greater credibility to the ORBS token, which aims to become a major multi-chain asset. 

The integration with Fantom comes just ahead of a major planned upgrade for Orbs that will see the launch of Orbs PoS V3, and with it new multi-chain staking capabilities on Ethereum and Polygon.