Layer 3 Blockchain Networks and Orbs
In the blockchain and cryptocurrency space, Layer 3 networks refer to application-specific networks built on top of existing L1 blockchains. These networks provide a dedicated environment for a single DApp, allowing it to operate independently with its own rules, governance mechanisms, and economic incentives. Layer 3 networks, such as Orbs, act as a “decentralized backend” aiming to enhance the capabilities of existing smart contracts as well as opening up a new spectrum of possibilities for Web 3.0, DeFi, NFTs, and GameFi.
By hosting a single application, a Layer network can be optimized specifically for the needs of that application. As a result, this can help to improve scalability and performance compared to running the application directly on a Layer 1 blockchain, which has limitations due to network congestion or computational overhead. Layer 3 networks such as Orbs can facilitate interoperability between different decentralized applications as they are standardized protocols and interfaces for seamless application communication and data exchange, contributing to a more connected and collaborative ecosystem.
The Orbs Network
The Orbs Network operates as a decentralized serverless cloud, allowing developers to extend smart contracts with L3 decentralized services. These are deployed to be executed by Orbs PoS validators who are known as Guardians. As part of a tiered blockchain stack, Orbs enhances the capabilities of smart contracts and powering protocols such as dLIMIT, dTWAP, and Liquidity Hub.
Orbs Offerings
The newest Orbs PoS V3 uses Orbs hybrid architecture and cross-chain properties to deploy a novel multi-chain PoS staking on both Ethereum and Polygon. By using the Ethereum stack to its fullest potential, the platform benefits from the security of Ethereum as the base layer, as well as the scalability and low fees of Polygon as L2. Orbs users can choose between staking on Ethereum and staking on Polygon. Each network will require its token for transaction fees, ETH for Ethereum, and MATIC for Polygon.
Tetra Staking Wallet
The Tetra wallet is designed to simplify the interaction with the staking contract through a simple and convenient interface. The wallet allows you to stake your tokens and select a Guardian to delegate to. The wallet has been made available on desktop and mobile (android and iOS) and is compatible with platforms such as Metamask, Status Wallet, Trust Wallet, Coinbase Wallet, and MyEtherWallet.
How to Get Started with Orbs?
To participate in the Orbs universe, you must hold the ORBS token to stake your tokens and select a Guardian to delegate your voting power. Orbs Guardians represent the Orbs community, who maintain the security of the network and uphold its long-term vision. To assure that participants in the PoS ecosystem are committed to the network and maintain its security, Orbs has a locking period of 14 days.
How to Stake ORBS and Delegate to a Guardian with the Tetra Wallet
First of all, you will need to make sure that you already have MetaMask set up on your browser and the Tetra Wallet. Once you’ve connected it to TETRA, you can stake your tokens, select a Guardian, and validate your staking.
Hot Take
Layer 3 networks like Orbs operate as a decentralized backend to enhance the efficiency and capabilities of smart contracts and decentralized applications. By using Layer 3 networks, developers can customize their DApps’ environments to optimize performance, scalability, and interoperability, making them an essential component of the evolving blockchain and cryptocurrency space.
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