Orbs, a public blockchain infrastructure designed for mass usage applications, has announced the release of a new smart contract called the single nominator for validators in the Telegram Open Network (TON) blockchain. The contract provides an isolated cold wallet for validators to secure their validation process, enhancing their independence, security, and protection against gas-spending attacks.
In the TON blockchain network, validators participate in a proof-of-stake consensus algorithm by staking their cryptocurrency holdings to support the network’s security and transaction processing. The nominator essentially nominates a validator to represent their stake in the network and earn rewards on their behalf. The validator, in turn, is responsible for validating transactions and adding new blocks to the blockchain.
The single nominator smart contract provides an option for the core team’s nominator pool smart contract. The alternative was developed in-house to provide security for validators who stake their funds. The contract provides an isolated cold wallet for validators to secure their validation process and prevent gas-spending attacks. The contract also offers the ability to recover stakes during emergencies, such as elector upgrades.
The contract has been audited by CertiK, a Web3, blockchain, and smart contract security firm, which recently announced a partnership with TON to audit future projects on the network. Orbs has released the single nominator contract to the community as a free, open-source product.
The release of the single nominator smart contract is a significant development for validators in the TON blockchain network. The contract offers a secure and independent way for validators to participate in the proof-of-stake consensus algorithm, providing enhanced security and protection against gas-spending attacks. The contract’s auditing by CertiK adds an extra layer of security and confidence in the product’s reliability.
Orbs is a leading public blockchain infrastructure designed for mass usage applications. The platform aims to provide a scalable, secure, and decentralized infrastructure for developers to build their blockchain applications. Orbs is committed to advancing the adoption of blockchain technology by providing a user-friendly and developer-friendly platform for building decentralized applications.
In conclusion, the release of the single nominator smart contract by Orbs is a significant development for validators in the TON blockchain network. The contract offers enhanced security and protection against gas-spending attacks, allowing validators to participate in the proof-of-stake consensus algorithm in a secure and independent way. Orbs’ commitment to advancing the adoption of blockchain technology is demonstrated through the release of this free, open-source product, which is audited by CertiK, adding an extra layer of security and reliability to the contract.
Orbs, a public blockchain infrastructure designed for mass usage applications and providing end-to-end blockchain stack, is now available on 1inch Exchange.
Orbs Now Available on 1inch DEX
Leading DEX aggregator 1inch, enabling access to the most liquidity, lowest slippage, and best exchange rates across the Ethereum, BSC, and Polygon ecosystems now enables the trading of the ORBS token.
For the uninitiated, the 1inch protocol offers aggregation information services on exchange protocols and networks. 1inch’s core proposition is the 1inch smart contract that facilitates runtime verification of transaction execution, and the flagship Pathfinder algorithm that searches for the best trading paths across multiple markets while simultaneously accounting for gas costs.
To date, more than $50 billion worth of total volume has been executed by 1inch with over 240,000 total users and 2.3 million in total trades. At present, 1inch is connected to 3 networks — Ethereum, BSC, and Polygon with more than 88 liquidity sources.
How to Swap ORBS on 1inch?
It’s super easy to swap Orbs on the 1inch exchange — just choose the ORBS token from the default pull-down list. 1inch will automatically choose the optimized DEX rate to execute the order.
The Ever-Evolving Orbs-DeFi Ecosystem
The decision to list Orbs on 1inch exchange comes from the recent string of successful integrations undertaken by the pioneering DEX aggregator. Among others, these integrations include:
And many others
Orbs’ listing on 1inch — a leading DEX aggregator – will enable users to navigate the growing list of swapping alternatives available for Orbs across the available DeFi DEXs. This integration marks another important step to cement the Orbs DeFi infrastructure required for further growth of the Orbs-DeFi ecosystem.
Now ORBS token holders can stake their tokens directly in a Coinbase Wallet.
The project manager of Orbs, Eran Peled, has announced the new launch of Orbs staking on the Coinbase wallet mobile app, which allows Orbs token holders to stake their ORBS tokens directly from their Coinbase wallet by Orbs’s Tetra wallet. The new function is available on both Android and iOS devices.
Eran Peled commented
“We are excited to announce that ORBS staking is now available on Coinbase Wallet mobile app, for Android and iOS, using the mobile version of Orbs’ Tetra Wallet. This means that Orbs token holders can now stake their ORBS tokens directly from their Coinbase wallet application.”
In order to stake ORBS tokens, the holders need to access the Tetra webpage from their Coinbase mobile app, then choose the number of orbs tokens they would like to stake and confirm.
Coinbase – The Leading Company in Cryptocurrency Industry
The biggest U.S. cryptocurrency exchange Coinbase is leading to build the crypto-economy to become a more fair, accessible, efficient, and transparent financial system by using crypto.
Established in early 2021, the firm has become one of the most successful crypto companies in the world which offers a trusted and easy-to-use platform for accessing the broader space in the crypto industry.
Recently, the firm has listed on the NASDAQ which is seen as a watershed moment for the cryptocurrency industry. According to analysts, traders and economists, the share sale is a milestone for cryptocurrencies. This event has also helped to push the drive of adoption in digital assets.
The Coinbase is created by Coinbase which is considered a secure, easy-to-use crypto wallet. In addition, the wallet is now supporting most of the main cryptocurrencies such as BTC, BCH, ETH, ETC, LTC, and all ERC-20 tokens with decent fees.
Orbs Continue to Bring A Friendly and Accessible Platform to Users
Orbs is a public blockchain infrastructure designed for mass usage applications based on Ethereum. By adding Orbs to Ethereum, developers get the benefits of both chains. It offers developers a proper mix of performance, cost, security, and ease of use.
The Orbs team consists of over 40 experienced engineers, developers, business people, and academics. Especially, four founders have extensive experience allowing a fast and smart development.
Daniel Peled, the President and a co-founder of Orbs, was the first Israeli to conduct an ICO for a blockchain company. Uriel Peled, the second co-founder leading Orbs, was named one of Israel’s top blockchain influencers.
Tal Kol, the third co-founder, has experienced as a co-founder of a mobile app startup Appixia and the Wix.com Head of Mobile Engineering.
Finally, the co-founder Netta Korin was served as Senior Advisor to Gen. Mordechai as well as a Senior Advisor to Dr. Michael Oren, the Deputy Minister for Diplomacy in the Prime Minister’s Office.
Orbs is headquartered in Israel. After partnering with the internet conglomerate Kakao, a platform of South Korea, the company has opened an office there. Under this cooperation, Orbs is going to develop blockchain applications for the Kakao network which has over 50 million users.
Besides, the team is also partnering with Kik, which is a chat and messaging app company in Canada, to develop a custom blockchain solution. The Canadian company has recently released a crypto token called Kin meant to provide incentives for Kik users.
Tetra is available on the mobile phone is an important step to offer ORBS token holders a user-friendly and accessible platform. At the present, Orbs staking using Tetra is available from other wallet applications along with Coinbase, including Metamask, Enjin Wallet, imToken Wallet, Status Wallet, and Trust Wallet.
Coinbase Wallet users can now stake ORBS via the mobile version of Orbs’ Tetra Wallet.
Orbs Staking Live on Coinbase Wallet App
According to an official announcement made recently, Orbs (ORBS) staking is now live on Coinbase Wallet. Specifically, Orbs staking is live for both Android and iOS apps and the service can be availed via the mobile version of Orbs’ Tetra Wallet.
In essence, ORBS token holders can now stake their ORBS directly from their Coinbase Wallet application.
For the uninitiated, Orbs is a public blockchain infrastructure geared toward achieving the goal of mass-usage adoption. The protocol offers developers a proper mix of performance, cost, security, and ease of use. Moreover, the Orbs protocol is fully decentralized and executed by a public network of permissionless validators using the Proof-of-Stake (PoS) consensus algorithm.
Staking the ORBS token is a simple affair. Users are required to navigate to the Tetra webpage from their Coinbase mobile app and stake their ORBS. Users can refer to this simple tutorial to learn how to use Tetra.
The Coinbase Wallet is a secure, easy-to-use cryptocurrency wallet developed by major cryptocurrency exchange Coinbase. The San Francisco-based digital assets exchange was recently listed on the NASDAQ in what was perhaps one of the biggest and highly-anticipated IPOs in recent years.
Plans to Offer Users Variety
While the staking support on Coinbase Wallet is live now, the Orbs team is committed to offering ORBS token holders more options to participate in the Orbs Universe. In that regard, having Tetra available on mobile is an important step.
In addition to Coinbase, users can stake Orbs tokens via Tetra using any of the following wallet applications such as Metamask, Enjin Wallet, imToken Wallet, Status Wallet, and Trust Wallet.
Orbs, a company that is creating an open-source blockchain, and Krystal, a crypto wallet that offers major functionality in a single place, are working together to make DeFi easy for everyone.
Orbs recently announced a new platform called Liquidity Nexus, which allows liquidity farmers to provide ETH, but still, earn in ETH/USDC.
According to a press release shared with Blockonomi:
Krystal was created by the team from Kyber and is an advanced cryptocurrency wallet that provides an all-in-one DeFi platform, available on Android and iOS mobile apps. Krystal provides a frictionless and secure DeFi experience with the following key features:
Seamless token swap: Integration to top DEX platforms, such as Kyber Network and Uniswap, to provide token swap functionality for about 30,736+ token pairs.
Token Lending for interest: single-click lending and withdrawal services with AAVE and Compound to provide convenient lending services for any user.
Hassle-free portfolio management: convenient portfolio management tools so that you can easily monitor and track your assets across multiple platforms and stay on top of your DeFi game.
Solid security: Krystal is non-custodial and does not hold your assets at any time. All Krystal smart contracts have been fully audited by external third parties.
Orbs and Krystal Are a Great Fit
Orbs blockchain is all about inclusion, and the working partnership with Krystal will likely see the Orbs’ token listed in Krystal’s wallet, which is good from a liquidity standpoint. The markets thrive on liquidity, which is good for everyone in the DeFi ecosystem.
Accoding to Orbs:
“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.”
As a PoS blockchain, Orbs is in a good position to grow with the global crypto ecosystem, and offer people everywhere to fast services, at a very low cost.
PoS is the Future of Blockchain
Orbs is going in the right direction with its PoS system, as the original Proof-of-Work systems that brought blockchain into the global arena are very limited in their ability to scale on to larger user bases.
PoS systems eliminate this hindrance and allow the systems that use them to become income-bearing. Unlike a PoW system, PoS means that anyone who has tokens that can be staked will be able to gain something – like an interest rate.
Lot Yields Make PoS a Winner
One of the foundational ideas of fiat currency is an interest rate – AKA – the price of capital. In the modern world, central banks have destroyed this vital part of the monetary system, but in the world of DeFi – yields are good!
Krystal makes gaining these yields easy so that investors can relax, and allow their holdings to grow without any issues. Making money with money should be simple, and Krystal’s wallet makes it easy.
The simple fact of the matter is that the established financial system is not working for the people that have given their trust to the central bankers, and now, there is room for innovation. This takes the form of decentralization and assets like cryptos.
Let’s be honest – who wants to hold money that can be taken away with either inflation or outright theft – like the expiration date that CBDCs can be built with. The answer is no one. To learn more about Orbs, just click here.
If you want to check out Krystal’s wallet, this link will get you sorted out. Get into cryptos – they are a real asset that no one else can control.
It is now possible to stake, hold, and swap ORBS tokens directly on MetaMask, a top plugin wallet that grants access to the Ethereum blockchain, as per an update on Apr 13.
Tetra Connects to MetaMask
This follows the connection of Tetra, the official staking wallet of the Orbs project, to MetaMask.
It is now possible for MetaMask users and ORBS holders to stake their tokens through the Tetra application accessible on mobile and desktop.
Developers ensured that the process is simple.
Therein, straight from MetaMask, users can navigate Tetra’s webpage and stake.
Additionally, with the connection to MetaMask, there is safety and simplicity even for users who are new to crypto, Ethereum, and the plugin wallet.
ORBS Trustless Swapping Possible
Over time, MetaMask continues to build, aligning with the needs of their millions of global users. At the core, MetaMask supports the secure storage of ETH and its tokens.
However, in 2020, it announced that users could use MetaMask to trustlessly swap tokens straight from the wallet. For best pricing, MetaMask would aggregate feeds from some of the leading DEXes so that users get the best prices.
This means, because of ORBS’ listing on Uniswap and Balancer—two leading DEXes, MetaMask users can easily swap their tokens for ORBS.
MetaMask and Orbs Network are Global Projects
Reflecting the state of Ethereum that is public and open to the public, MetaMask is freely accessible and available for download at several web browsers, including Chrome and Firefox. According to Chrome and Google Store stats, MetaMask has over three million downloads.
At the same time, it is easy to use as most users are satisfied, giving the wallet a four-star rating from over 1.9k reviews.
By Q3 2020, MetaMask had on average over one million monthly active users spurred by the rise of DeFi and gaming.
The same ease extends to stakers of the Randomized Proof-of-Stake (PoS)-powered Orbs blockchain.
The Orbs platform uses a hybrid architecture and is interoperable with Ethereum. Their solution addresses several fundamental challenges faced by users, the prominent being scalability. Already, Orbs has partnered with Kakao—a South Korean giant with over 50 million users.
To create a bridge between the traditional financial economy and the blossoming decentralized finance ecosystem, Orbs blockchain is introducing a new liquidity-as-a-service application, Liquidity Nexus. With the introduction of this application, Liquidity Nexus will make access to defi easier for more traditional and professional investors, as well as provide a massive source of new liquidity for interested defi projects.
One of the most jarring problems within the blockchain ecosystem is interoperability: how to make applications more compatible with one another and legacy systems. As a public, open-source, and free blockchain infrastructure designed to support scalable enterprise-grade applications, Liquidity Nexus’ liquidity-as-a-service platform onOrbswill drive down the barriers to greater defi adoption. Orbs hosts both permissioned applications for businesses and fully decentralized applications, putting it in a prime position to provide services from the best of both worlds.
Making Defi More Accessible to Risk-Averse Investors
The defi market hasundeniably explodedin the last year, growing parabolically with no signs of slowing down. Although the market has experienced massive growth, there is still a key group of investors who have been excluded from this opportunity due to the inherent risks of cryptocurrency and defi. As a highly complex field to navigate and interact with, most defi opportunities are limited to a small group of sophisticated investors. Liquidity Nexus is launching to make involvement in the defi space as easy as possible for all.
Liquidity Nexus acts similarly to a conventional interest-bearing savings account, but offers much better rates of return. Instead of the profits getting skimmed off by corporate executives and company shareholders, Liquidity Nexus is able to return the majority of the value generated directly to the end user. Using the Liquidity Nexus protocol, any company or professional investor can transfer funds in the form of stable assets to get started.
Once the assets are deposited, Liquidity Nexus will automatically begin to reroute the funds across its partner applications onEthereumor Binance Smart Chain to start generating yields on the position. Unlike regular savings accounts, which may charge penalty fees, withdrawal fees, or other unnecessary fees to disincentivize you from removing your money, Liquidity Nexus provides the ability to withdraw all or a portion of your principal plus the interest generated at any time. The withdrawal will occur in the original currency or stable asset used by the depositor, making the transfer process straightforward.
Benefitting Defi Ecosystems
The benefits that companies and professional investors receive from this application are clear, but it is also highly beneficial to participating defi projects. Any defi project that is interesting in expanding its liquidity pool can integrate its positions into Liquidity Nexus smart contracts. This will allow Liquidity Nexus to utilize incoming stable assets to direct funds to the project’s liquidity pool, generating yield for the end user while strengthening the individual defi application ecosystem. Liquidity Nexus offers a great option for defi applications to immediately expand on their liquidity provisions.
Simplifying Defi Access
Following the introduction of Liquidity Nexus, on pace to be launched in Q3 of this year, greater access to the defi industry will become available to investors of all kinds. Liquidity Nexus removes a lot of the risk traditionally associated with involvement in the defi market, such as holding highly volatile and potentially unstable cryptocurrencies that can experience a significant loss of value in a short space of time. This risk is one that many established investors are not willing to take.
By exclusively utilizing stable assets, cefi and professional investors will not need to expose themselves to unnecessary risks. Beyond volatility, these risks have the potential for impermanent loss, reduction of capital through slippage and market inefficiencies, and more. The onboarding of cefi investors into this new market will have a major effect on legitimizing blockchain and cryptocurrencies. Liquidity Nexus has the opportunity to play a vital role in bridging cefi and defi and making this vision a reality.
Bitcoin (BTC) has continued to challenge the status of legacy markets as the market capitalization of the digital asset surpassed the combined market cap of Visa and Mastercard ($871 billion). Bitcoin’s $1.15 trillion market capitalization has also overtaken the combined value of JPMorgan Chase, Bank of America and the Industrial and Commercial Bank of China, which are the world’s three largest banks.
As Bitcoin gains in size and sustains it, several new institutional investors are likely to jump on the crypto bandwagon. Additionally, traditional businesses are closely watching the decentralized finance space and the rising popularity of nonfungible tokens. British-American auction house Sotheby’s recently said that it will join the nonfungible tokens party by offering tokenized art by a creator named “Pak.” This move could further boost interest in the NFT space.
Let’s look at the fundamentals and technical setu of a few tokens in the DeFi space and NFT arena that have been doing well in the past few days.
The DeFi space has been one of the major breakthrough areas in blockchain technology that has gained widespread adoption by investors. Orbs co-founder and head of R&D Tal Kol recently said in a YouTube video that the project has been looking at the DeFi space and how it can be used to disrupt the financial industry.
In the video, Kol hinted that hedge funds have been looking closely at the DeFi space but they may not enter in its current form. The hedge funds may seek certain changes before making the plunge. Kol did not give out many details on the upcoming projects, but he did say that Orbs is keenly looking at the DeFi space.
This chance of the Orbs team possibly working with the hedge fund industry could have generated huge interest in its ORBS token.
On the DeFi front, Orbs and Binance have launched a new accelerator for the DeFi ecosystem in January that will provide mentorship to the selected projects. In its recent update, Orbs said it had chosen its first set of projects for the accelerator program.
The March 15 partnership announcement between Orbs and Moonstake is aimed at increasing the adoption of blockchain technology in the finance industry and it might have also been viewed as a positive by traders.
ORB has soared from an intraday low at $0.044 on March 13 to an intraday high at $0.35 on March 16, a 695% increase within four days. This sharp rally had pushed the relative strength index (RSI) above 98 level, which is unsustainable.
The long wick on the March 16 candlestick shows profit-booking at higher levels. The ORBS/USD pair could now enter a minor correction or consolidation. The first support on the downside is the 38.2% Fibonacci retracement level at $0.23.
If the price rebounds off this level, it will suggest that the bulls are buying on minor dips. This could result in a retest of $0.35. A break above this level could start the next leg of the uptrend that could reach $0.56.
On the contrary, if the bears sink the price below $0.23, the selling could intensify. The next support on the downside is the 50% retracement level at $0.19. A break below this level will suggest the bullish momentum has weakened and such a move could delay the start of the next leg of the up-move.
Dego Finance’s DEGO token was covered by Cointelegraph on March 2 when it was trading at $6.31. Since then, it has been on a tear and rallied to a record high at $34.20 on March 14, a 442% rise within a short time.
In the past few weeks, NFTs have been on a roll. Therefore, any project that is involved with NFTs has benefited immensely. Along with that, the March 10 listing on Binance’s Innovation Zone was immensely successful as a total of $1.4 billion in Binance Coin was committed for DEGO’s launchpad sale.
Along with this, Dego Finance entered also into partnerships with several blockchains. Some of the more recent ones include strategic relationships with Apron Network, Mask Network and Clover. However, many analysts are warning that if the NFT space slows down, it could adversely affect several blockchains related to it.
The long wick on the March 14 candlestick shows profit-booking at higher levels. That was followed by a long-legged Doji candlestick pattern on March 15, which indicates indecision among the bulls and the bears
The bears are currently attempting to resolve the uncertainty in their favor as they aim to sink the price below the 38.2% Fibonacci retracement level at $22.37. If they succeed, the DEGO/USD pair could drop to the 50% retracement at $18.72.
A bounce off either support will suggest that traders continue to buy on dips. The bulls will then try to resume the uptrend by pushing the price above the all-time high at $34.20. If they succeed, the next target objective is $50.
Conversely, if the bears sink the price below $18, the pair could extend its decline to the 61.8% retracement level at $15. Such a deep fall could be followed by a period of consolidation before the next trending move starts.
Harmony (ONE) was featured on Cointelegraph on Feb. 18 after it had rallied 230% since the start of the month. Traders who sold their holdings just because the price had risen sharply would have lost out on the subsequent rally. ONE surged from $0.028 on Feb. 18 to $0.108 on March 15, rising 285% within a month.
Let’s look at some of the fundamental developments that may have supported the rally in the token.
Harmony entered into a partnership with Reef on Feb. 19, enabling users and Dapp developers of both projects to reap mutual benefits of the integration. Another rumor making the rounds is a possible partnership with Visa. While a few participants posed this question during a recent AMA session with Harmony’s CEO Stephen Tse on Reddit, they received no response.
Another positive event could be the upcoming bridge between Binance Smart Chain and Harmony. At the crux of every blockchain project is decentralization. The Harmony team has taken the first step in this direction by launching the governance app for the network, which will gradually empower the community to take decisions.
ONE has been in a strong uptrend since early February. The recent rise above $0.10 seems to have witnessed profit-booking as seen from the long wick on the March 15 candlestick.
The bulls had attempted to push the price above $0.10 on March 16 but failed. This suggests the uptrend is tiring out as traders are booking profits on rallies. However, the bulls have not given up yet as they are trying to keep the price above the 38.2% Fibonacci retracement level at $0.073.
If they succeed, the ONE/USD pair may consolidate in a tight range before challenging the all-time high at $0.108. If the bulls can push the price above this resistance, the next leg of the uptrend could begin.
Alternatively, if the bears sink the price below $0.07, the decline could extend to $0.06. A break below this support could result in a fall to the 61.8% retracement at $0.05.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.