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What is Orbs Network?Orbs offers the winning blockchain stack, providing the perfect mix of performance, cost, security and ease of use, while harnessing the power of community, decentralization and distribution. Combining scalability, low fees and isolation between virtual chains with a top-grade developer experience, online IDE and smart contracts in familiar languages, Orbs provide developers the perfect mix of performance, cost, security and ease of use. Orbs is a public blockchain infrastructure designed for mass usage applications. Unlike private and permissioned blockchain solutions typically used for such applications, the Orbs infrastructure is open and permissionless. The Orbs protocol is decentralized and executed by a public network of permissionless validators using Proof-of-Stake (PoS) consensus. The Orbs protocol relies on the ORBS token used for the settlement of fees related to app execution and provides the system of incentives used to elect validators in a secure and decentralized manner. Founded in 2017, Orbs is being developed by a dedicated team of more than 30 people out of Tel Aviv, Israel, London, UK, Singapore, Tokyo, Japan and Seoul, South Korea. Orbs was named Gartner's “Cool Vendor in Blockchain Technology” for 2018.
What is the usage or value of ORBS?As the native token for the network, the Orbs platform relies on the ORBS Token to fuel network operation and provide the means to pay the fees involved with operation of the consensus layer, execution of smart contracts and consensus-based storage, which are the three primary services provided by the platform - very similar how Ethereum relies on ETH to pay for smart contract execution. ORBS Tokens are also used to participate in the network’s proof-of-stake ecosystem - where tokens holders delegate their tokens to Guardians in order to elect them for the consensus committee.
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