Flipside Daily Mover: ORBS
A coin per day, making big moves
ORBS Platform Ecosystem Matures
August 26, 2019
ORBS FCAS climbed 2.18% over the last week. Developer Behavior is down 6-points (-0.69%) while User Activity spiked 40-points (10.42%). Market Maturity also ascended 11-points (2.33%). Price is up 11.14% over the same time period.
A Mutually Beneficial Relationship
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. 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. ORBS achieves this through two key platform features:
1) Virtual Chains which are essentially independent blockchains (a state obtained through sharding) sharing access to a physical node with customizable consensus protocols and governance models, and
2) Randomized Proof-of-Stake (RPoS) where small groups of individuals are selected from the wider group of token holders for each consensus round. A model similar to Algorand’s Pure Proof-of-Stake (PPoS).
Platform fundamentals have been on the rise as the team pushes ahead on a number of fronts. Development has focused on: a) core enhancements to support hot deployment of new nodes and configuration updates (meaning a network restart is not required for additions and updates), b) a new node version 1.1.1, c) upgrades to the user-facing Staking dashboard, and d) a variety of R&D initiatives.
On the business front, Orbs recently launched a partnership with the Celsius Network to add ORBS coins to the Celsius wallet for staking. ORBS coin support is also now available through Coinbase Custody, BitGo, and Staked.US. The asset has also listed on OKEx and the team recently joined Messari’s Disclosure Registry.
🌶️ Hot Take
The next generation of blockchain platforms are evolving at a rapid pace, focusing on interoperability in addition to solving lingering issues of scalability. OBRS is taking on the competition from a unique angle, providing blockchain solutions to enterprises through its own infrastructure while offering scalability relief to developers building applications on top of the Ethereum ecosystem.
While this dual-track approach creates a wide-stream of target customers to adopt its platform offering, it is also ambitious and will require a high amount of coordination and resources to pull-off. The Orbs team is well-positioned for success from a resource perspective, following a $118 million ICO in May 2018, and their development has been red hot as of late with Developer Behavior ratings hitting 890 in August. Look for continued growth from Orbs through Q3 and Q4.
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