ORBS User Activity has spiked in the past ten days with a series of events that have brought major momentum to the platform. Price has increased 3.10% in the same time frame.
Fundamental Data: ORBS FCAS has increased 48-points (8.01%) since April 1st, led by a 121-point (37.07%) spike in User Activity.
On March 12th, the Orbs team launched the ORBS PoS Wallet app that allows Samsung Galaxy users to generate, store and manage tokens for use within Samsung Blockchain Wallet. The app can also be used to monitor Orbs held in other wallets via read only mode. The app is available in the Android and Galaxy stores.
On March 25th, ORBS conducted its 4th rewards distribution covering three primary areas: “Participation Rewards, Guardian Excellency Rewards and Validator Rewards.”
Shortly after, the network was listed on UPbit, Korea’s number one exchange.
Orbs brought forward a new staking mechanism, in which members have to lock their tokens for 2 weeks once they are staked.
This incentivizes all network operators to make governance decisions that ensure and maintain the value of their staked tokens, and therefore maintain the health of the network.
In addition, the locking period significantly increases the cost of an attack, because attackers can no longer stake and immediately exchange their tokens. An attack would hurt the network and thereby hurt the value of their staked tokens.
The team introduces its improved staking wallet, TETRA, which simplifies staking. Now users can easily stake their tokens and select a guardian to delegate to, all using one platform.
From the Team: Orbs Co-Founder, Daniel Peled, spoke to Flipside: “With the growth of the Orbs network, and the network’s business focus on onboarding production-grade enterprise applications, we needed an updated staking mechanism designed to promote stronger incentives and network security. We expect that the implementation of the new staking mechanism will further improve the stability and operations of the network."
Flipside: While adding a lockdown period is a sure way to increase security, it can also scare off participants who could previously make simple transfers between many compatible ERC-20 wallets. The team recognized the risk of isolating itself with a lockdown period that was initially 21 days - deemed too long, it was then reduced to two weeks.
About ORBS (ORBS)
ORBS is a public blockchain platform launched in March 2019. It is built as a layer on top of the Ethereum blockchain designed to enhance DApp scalability. The ORBS token is an ERC-20 token. By offering interoperability with Ethereum-based assets, developers can utilize the flexibility of the ORBS infrastructure while also benefiting from Ethereum’s base layer security and liquidity.
The network is currently operated by 16 validators that are elected by the Orbs Proof-of-Stake ecosystem (RPoS). There are 1,580 participating addresses, 700 million Orbs Tokens in the participating stake and 89 million Orbs Tokens distributed as rewards.
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