Orbs Token Advances to Ethereum’s Arbitrum Via Axelar
The Orbs token is making waves as it prepares to integrate into Ethereum’s Arbitrum, signaling a new era of faster and more affordable transactions. This significant migration, supported by the Axelar network, is a testament to Orbs’ commitment to versatility and user experience in the ever-evolving blockchain landscape.
In an exciting development in the cryptocurrency sector, the ORBS token, associated with the pioneering blockchain project Orbs, is gearing up for its introduction on Ethereum’s Arbitrum rollup. This integration hints at a future where users can expect rapid and wallet-friendly transactions.
Axelar, a state-of-the-art interchain network, is at the forefront of guiding Orbs’ migration from its native Ethereum platform to Arbitrum. Those wishing to shift their ORBS tokens can tap into Axelar’s Satellite Bridge. This platform has a track record of overseeing over 700,000 cross-chain transfers, totaling a transaction volume surpassing $1.8 billion.
Ran Hammer, Vice President Of Biz Dev at Orb, commented on this move and said, “This strategic move represents a significant milestone for Orbs. By expanding our ecosystem to Arbitrum, we are taking a momentous step towards enhancing user experience and addressing long-standing scalability challenges.”
He further emphasized the broader vision by saying, “Integrating with Arbitrum aligns perfectly with our vision. While Ethereum remains the network of choice for many, we want to make it possible for people to interact with Orbs without having to contend with prohibitive gas costs.”
Arbitrum’s growing clout, evidenced by its $2 billion in locked assets, cements its status as an emerging hub for decentralized applications (dApps). The platform has been on an upward trajectory, registering more wallet transactions recently and, on certain occasions in the past quarter, even outpacing Ethereum.
This association of Orbs with Axelar and its subsequent debut on the Arbitrum network signifies its dedication to versatility in the blockchain domain. This adaptable approach is further highlighted by its recent collaborations, such as those with Chronos DEX and the inclusion of Y2K’s DeFi Notifications feature.
A Closer Look at Orbs:
Established in 2017, Orbs stands as a beacon of blockchain infrastructure innovation. Helmed by a globally diverse team from Tel Aviv to Tokyo, Orbs is known for trailblazing applications like dTWAP and dLIMIT that are tailor-made for decentralized ecosystems and compatible with an array of DEXs.
Decoding Arbitrum:
Envisioned as a Layer 2 enhancement for Ethereum, Arbitrum aims to revolutionize smart contracts by focusing on speed, scalability, and augmented privacy. It offers a unique space for developers, allowing them to seamlessly deploy unaltered Ethereum Virtual Machine (EVM) contracts while maintaining the unyielding security framework of Ethereum’s primary layer.
