What is Orbit Chain?
The Orbit Chain token or ORC is the native utility token of the Orbit Chain - a highly scalable blockchain network architecture.
ORC is mainly used to cover fees accumulated for using the Orbit Chain ecosystem.
It grants governance rights. While ORC holders can delegate Candidates, ORC does not serve as a governance token. This is because only the Candidates can participate in the voting process.
Additionally, the Orbit Chain token is paid out as an incentive to validators for securing the network.
There is a max cap of 1,000,000,000 Orbit Chain tokens. This could mean that as the ORC tokens become more scarce, the Orbit Chain price will increase.
You can have a more in-depth look at the ORC price history or the current Orbit Chain price on the graph above.
What are the Main Features of Orbit Chain?
Orbit Chain has a unique ecosystem of blockchain-based solutions such as:
- Orbit Bridge - an Inter-Blockchain Communication (IBC) platform that supports 15 blockchains including Ethereum, Polygon, BNB, and Avalanche, among many others;
- Orbit Chain Explorer - a blockchain explorer that enables users to overview the latest transactions and blocks in real-time;
- Orbit Chain Governance - a governance platform for the Orbit Chain;
- Orbit Farm - enables users to earn crypto rewards. It’s deployed on Ethereum and BNB.
As discussed in the What is Orbit Chain section, the Orbit Chain token plays a key role in securing the network. This is because the Orbit Chain is secured via a Proof-of-Stake (PoS) consensus mechanism.
When was Orbit Chain Launched?
The Orbit Chain crypto project was launched in 2019.
Some of Orbit Chain’s partners include Polygon, ONTology, Conflux, DappRadar, Nebulas, and many others.
