CMC#	Market Cap (USD)	Volume (24hr)	Circulating Supply	NVTS	Change (7d)	Change (24h)	Savings Per 1K
319	$32,162,500.00	$2,630,840.00	2,229,950,000 ORBS	--	4.84%	-10.89%	-$0.70

Background

Orbs is a public blockchain that allows enterprises to offer decentralized tools and services to give blockchain backed guarantees to their users and partners. Instead of building another smart-contract scalable blockchain for web3 dapps, Orbs was designed to accommodate the needs and developer experience of existing businesses. Unlike private and permissioned blockchain solutions typically used for enterprise, the Orbs infrastructure is open and decentralized, executed by a public network of permissionless validators using Proof-of-Stake consensus. Orbs has built-in interoperability with Ethereum and can be used as a scalability solution for dapps to provide the same decentralization and ecosystem benefits without the unpredictable gas fees and low throughput. Orbs architecture is pioneering blockchain virtualization, a form of inherent sharding where virtual chains allow customization, isolation and low and predictable fees. This accommodates changing business needs, where each chain can optimize parameters and maintain a separate governance structure. Businesses looking to utilize orbs pay a monthly subscription similar to existing cloud service providers. Unique to Orbs is the PoS governance over PoW, using Ethereum for separation of powers in elections. To avoid conflict of interest, where the ones protecting the elections are the ones being elected, Orbs relies on Ethereum mainnet as an external decentralized source of trust for executing the mechanics of the staking mechanism (placing the votes) and for fee settlements for virtual chain subscriptions. The ORBS token is thus implemented as an ERC20 token over Ethereum.

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