Orbit Chain
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Orbit Chain

Stacks is now an Origination Chain on Orbit Bridge

Orbit Inter-Blockchain Communication (IBC) system expansion: Stacks

Orbit Chain and Stacks are engaged in a number of efforts to maximize the potential capacity of the ecosystem. Orbit Chain works together with Stacks to nourish DeFi on Bitcoin and connect to other flourishing ecosystems existing on Ethereum, Klaytn and others. The integration with Stacks will let the foundation expand and develop the growing DeFi ecosystem by leveraging Orbit Chains’ focus on cross-chain interoperability, and sharing the experience of building successful DeFi protocols.

The great progress of Stacks is about to be real. It is a rare experience of consensus among DeFi users and a big deal for the world’s most popular cryptocurrency. The most impressive part of Stacks upgrade has to do with the smart contracts, which are necessary for utilization of bitcoin by adding new clarity functionality. This will facilitate employing data on-chain including Bitcoin transactions. Users now have chances to explore diverse DeFi protocols that enhance the efficiency of their assets. So Orbit Chain seized an opportunity to move forward with Stacks.

Orbit Chain is trying our best to make Stacks ecosystem advantageous for crypto assets to be interoperable in order to broaden the ecosystem. The core developers of Stacks put all energy into settling an on-chain smart contract when the upgrade takes place. With the great update of Stacks, Orbit Chain finalized vault & minter contracts of Orbit Bridge which were ported on the Stacks mainnet sandbox at the end of April. When Stacks setup is done as layer 1, users can bridge in & out STX on the mainnet. Other assets from Layer 2 such as Klaytn and Polygon are eligible on Orbit Bridge from the following week in mid May.

Orbit Chain team is well-prepared for the integration so Orbit Bridge utilizes more assets from numerous chains. Orbit Bridge focused on secure operation with the current version Stacks 2.0 will be accessible after auditing. Further development for adjustments for Stacks 2.1 update will follow as soon as we check the specification. Connecting Stacks and Orbit Bridge together will encourage the functionality of Bitcoin via smart contracts and decentralized applications to be able to take advantage of liquidity available from heterogeneous chains.

About Orbit Chain (Orbit Bridge)

Orbit Chain is a multi-asset hub blockchain that stores, transfers, and verifies information and assets which exist on various public blockchains through decentralized Inter Blockchain Communication (IBC).

Orbit Bridge is the cross-chain IBC protocol based on Orbit Chain. It currently connects various mainnets and has supported the cross-chain bridging of more than $3.5 Billion worth of assets. Orbit Chain currently supports 15+ public chains including Bitcoin, Ethereum, BNB Smart Chain, Huobi ECO Chain, Polygon, Ripple, Klaytn, ICON, and Terra. Orbit Chain is committed to researching the interoperability of heterogeneous chains and further developing the DeFi ecosystem with better products and services. In doing so, Orbit Chain will create a more widespread audience and a stable blockchain ecosystem by allowing more dApp growth on various mainnets.

Ozys, the team behind Orbit Chain, is a company spearheading blockchain development in South Korea, working tirelessly to create unity in the fragmented and dissociated blockchain world. Working under the ethos of “Connecting the Unconnected,” Ozys’ projects utilize cutting-edge technologies to bridge different ecosystems together. Ozys is a member of the Klaytn Governance Council alongside multinational businesses and organizations including Binance, Huobi, MakerDAO, and Kakao.

About Stacks

Stacks 2.0 is a layer-1 blockchain that connects to Bitcoin for security and enables decentralized apps and predictable smart contracts. Stacks 2.0 implements PoX mining that anchors to Bitcoin security. The platform is powered by the Stacks coin (STX), which is used for fueling the execution of smart contracts, processing transactions, and registering new digital assets on the Stacks 2.0 blockchain.

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