Orbs Network was founded in 2017 with the goal of enabling developers to create better protocols and solutions without compromising decentralization or their ability to reach a wide audience. As a third layer and component of a tiered blockchain stack, Orbs is configured as a separate decentralized infrastructure layer that operates between current L1/L2 solutions and the application layer.
Since 2019, the Ethereum community has been patiently waiting for the ETH 2.0 upgrade and a full migration to a proof-of-stake (PoS) blockchain that implements sharding and reduces transaction costs. However, they will need to wait longer despite the release of the Beacon Chain back in December 2020, which was the first step towards a PoS upgrade. This has welcomed the adoption of Ethereum alternatives such as Avalanche, Polygon, Solana, and others, with ETH 2.0 likely taking years to be entirely implemented. Additionally, these alternatives offer faster and cheaper transactions allowing users to send small amounts across their platforms – which is almost impossible with Ethereum.