Issues in the Blockchain World
Data and assets on the blockchain usually are limited to their own chain resulting to limited access to data and assets on other blockchains. If some blockchains build a centralized approach to handle those data and assets, security and verification issues may arise.
However, Orbit Chain had already built a fully working decentralized IBC protocol which runs with Staking based Validator governance, which is reliable and safe. All assets and data are verified and stored on the blockchain and all those processes are transparently open to everyone.
Proof of Work (PoW) based Blockchains usually have issues on scalability, speed and expensive fees.
However, Orbit Chain is working with Staking- based BFT consensus by Validator groups which will provide much more scalable and reliable IBC. All the information including assets and data from public chains are rapidly moved to Orbit Chain. Orbit will support parallel connectivity between Orbit Chain and Public Chains to provide faster transaction speed.
Existing blockchains support only one native coin., Additionally, developing and commercializing Dapp services on several blockchains are difficult and are tedious processes. The developer of the Dapp services has to develop for each blockchain for this purpose which consumes a large number of resources and leads to poor and unreliable management.
Orbit as a multi-asset blockchain enables Dapp developers to connect with public chains through the Orbit SDK and develop using on existing and familiar REST, and WebSocket system APIs, which reduces unnecessary resource consumption and helps developers focuses on their Dapp services to develop high-quality services.