Orbit Chain is a decentralised inter-blockchain communication that is able to store, transfer and verify assets and information from various blockchains. Existing blockchains face many issues such as interoperability, scalability, usability and decentralisation. Orbit Chain enables communication with public blockchains through its inter-blockchain communication (IBC) protocol, ensuring safe and reliable transfer of assets. Orbit Chain solves scalability issues faced by PoW mechanisms by using Delegated Proof of Stake consensus algorithm. Developers can have seamless access and multi-function application development services to Orbit Chain through Orbit SDK.
ORC is the native token within the Orbit chain. It has multiple utilities, most of which involves fees for using Orbit services. A small amount of fees is required to be paid in ORC when transferring funds, transactions, resource usage and for utilising IBC. Users may participate in the block network in terms of block production and validation through staking. Another use case is as governance token where ORC holders will have the right to vote in the future of Orbit Chain. There is a maximum supply of 1 billion ORC token.