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Layer 3 blockchain Orbs announces V4 upgrade

source-logo  invezz.com 06 February 2024 13:18, UTC

Orbs, a blockchain-based infrastructure-as-a-service project, has announced the development of its V4 upgrade to enhance efficiency and robustness of its Layer 3 technology.

The upgrade is designed to further scale Orbs’ decentralized execution layer as demand from across the decentralized applications (dApps) ecosystem grows, the platform said in the announcement.

V4, which comes two years after Orbs 3.0 debuted, features key node upgrades aimed at ensuring the L3 infrastructure meets industry standards and expectations as demand and usage spikes in 2024. With Orbs 3.0, users tapped into two execution layers – Lambda and VM – as well as the decentralized backend services of the Orbs Guardians.

According to Orbs CEO Nadav Shemesh, V4 is pivotal to the project’s next growth chapter. He noted:

“This upgrade is not just about scaling up; it’s about setting a new standard in L3 infrastructure, ensuring we stay ahead of the curve in this ever-evolving space.”

Other than the node implementation, the V4 upgrade includes improved uptime, tracking dashboard and a revamped staking wallet. Orbs is also automating the rollout process for Guardian nodes and is adding to its decentralization by moving away from AWS-centric deployment.

V4 will also see the Orbs node installer replaced to reduce the technical barriers for node operators. Orbs’ upgrade also improves on the project’s auditability.

Orbs’ expansion continues

Orbs relies on a network of permissionless validators to provide a decentralized execution layer that operates between existing Layer 1/Layer 2 solutions and the application layer. The proof-of-stake platform expands smart contracts capabilities for both the EVM and non-EVM blockchains.

Its “decentralized backend” that facilitates “a whole new spectrum of possibilities for Web3, DeFi, NFTs and GameFi,” according to an overview on the project’s website.

The V4 upgrade comes as the project’s native token lists on major crypto exchanges amid cross-chain integrations.

Last December, Orbs invested in BNB Chain-based decentralized exchange THENA, boosting the platform’s growth with a $600k investment.

In August, Orbs expanded to Arbitrum, the L2 protocol with over $2.6 billion in total value locked (TVL). The ORBS token was also launched on L1 blockchain Kava in mid-January 2024, with the expansion facilitated by the Axelar-powered Satellite bridge.

Earlier this month, Orbs integrated IQ.wiki’s IQ GPT bot into its Telegram channel to provide real-time, AI-powered access to blockchain insights.

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