The Orbs network has expanded its ecosystem through a key chain integration with Harmony that saw it go live on Harmony Bridge.
Orbs is a decentralized public blockchain infrastructure designed for mass usage DeFi applications and close integration with Ethereum virtual machine-based L1s such as Ethereum and Binance SmartChain. The goal of Orbs is to combine scalability, low fees, and isolation between virtual chains with a first-grade developer experience, an online integrated development environment, and smart contracts in familiar languages.
Unlike private and permissioned blockchain solutions typically used for such applications, Orbs’ infrastructure is open and permissionless, executed by a public network of permissionless validators using Proof-of-Stake (PoS) consensus.
The Orbs protocol is reliant on the ORBS token, which is used to settle fees related to app execution and provide incentives used to elect validators in a secure and decentralized manner.
Through its unique architecture, Orbs believes it can create richer EVM-based smart contracts with enhanced capabilities. But to do so it must become a multi-chain asset, hence the importance of today’s announcement.
Horizon Bridge is a newly launched cross-chain bridge created by Harmony that enables any ERC20 asset to be traded between Ethereum, BSC, and Harmony. It works by exchanging ETH and BSC assets to corresponding assets on Harmony, with trustless execution and low gas fees.
Harmony ultimately aims to become a key protocol within the Ethereum blockchain ecosystem by connecting any Proof-of-Work and Proof-of-Stake chain, serving as an open platform for assets, collectibles, identity, and governance.
Bridging Orbs onto Harmony is dead simple. Just head to the Horizon Bridge, select the ORBS token from the pulldown list. Holders of ORBS can then choose between the Ethereum and BSC chains.
To date, the Horizon Bridge has more than $260 million total value locked. Orbs said it believes Harmony is an extremely promising project and it is excited to explore the possibilities and opportunities it presents.
“Bridging Orbs onto Harmony is the first step for unlocking this potential,” it said.