Orbit Bridge has worked to overcome the ubiquitous scalability and connectivity limitations that have limited traditional public networks. Improvements and innovations increase accessibility and user experience, so blockchain-based protocols and services can be more integrated into real life.
Description of the Orbit Bridge project
Orbit IBC, which forms the backbone of Orbit Chain, is the world's first open Hub Chain network. This allows various chains to be linked to Orbit Chain, and their digital assets can be freely processed and used within Orbit.
Some key examples - Orbit's DEX protocol, which supports asset exchanges, the Divine protocol, which allows lending and borrowing, using on-chain assets, and the Staking-as-a-Service protocol, which allows heterogeneous chain staking through Orbit. Orbit Chain, which has developed its own technology and services, is currently hosting over $30 million worth of assets on its coin defi network.
Distinctive features:
| 1 | Sending cross-network data between heterogeneous chains. |
| 2 | Users can send assets or data to any chain, connected to Orbit Bridge. |
| 3 | Robust, secure verification of multiple signatures. All consensus happens within the network, and all authority throughout this process is decentralized. |
It is a cross-chain communication protocol that enables communication between dissimilar blockchains. Previously, with Orbit Pegging IBC, assets were integrated and used on Orbit Chain through inter-blockchain communication, including Orbit Chain. Orbit Bridge IBC allows different blockchains to communicate with each other, using the Orbit Chain. It was built by using BFT multi-signature consensus to establish a decentralized, trustless consensus process. This allows users to use different assets on different chains across all dApps through simple transactions on each chain.
Additional data about defi app
The Orbit Bridge system has management groups, consisting of roles: Operator and Validator. Bridge protocols use either the MPC-based transaction consensus method or the multi-signature-based transaction consensus method. Orbit Bridge uses multi-sig transaction consensus. Thanks to this, the Operator, who sends the data, and the Validator work together to process transactions efficiently and quickly. In addition, since the consensus and verification processes take place through transactions on the Orbit Chain, they are transparent and trustless. Validators use a separate private channel and blockchain without centralized control to complete their tasks.
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