In order to give the community a safe and dependable way to connect ORBS tokens to popular blockchains like Ethereum and BNB Chain, Orbs, the Layer-3 infrastructure network for decentralized apps, has announced a partnership with Axelar Network.
Orbs and Axelar Satellite Collaborate to Enable Cross-Chain Token Exchanges on 5 Blockchain
In the past, Orbs used the Multichain cross-chain protocol to connect ORBS tokens to additional networks. Regrettably, Multichain revealed in June that it had been forced to stop operations after suspicious behavior led to the withdrawal of more than $126 million in cash from its wallets. The Orbs team had been focused on helping the community discover a dependable alternative that would safely allow them to bridge their ORBS tokens, despite the fact that the precise details of the events leading up to Multichain’s failure are still unknown.
Orbs developed the requirements for a new bridge provider for the community rapidly, mandating that it choose a reliable project that offers not just the greatest level of security but also support for ORBS across all previously supported chains. In this direction, the world’s top blockchains, including Ethereum, Cosmos, Polygon, and others, have put the proof-of-stake consensus method to the test. Axelar makes use of this technology.
About Axelar Satellite
The user interface of Axelar Satellite is famous for being straightforward and making it simple for users to move digital assets between supported chains. More than 700,000 cross-chain exchanges totaling more than $1.8 billion have been made possible via the bridge so far.
About Orbs
The project for blockchain infrastructure is Orbs. It has been present since 2017, and the network and token went operational in 2019. Orbs is now concentrating on developing use cases that are network and technologically-supported.
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