$118M Raised By Orbs Blockchain Platform for Larger Consumer Apps
New Blockchain Platform for Larger Consumer Apps Funded by Orbs
Orbs is a platform that is built around the concept of supporting large-scale applications for consumers on the blockchain. In a recent press release, they stated that they have managed to reach over $118 million in an effort to launch their platform. The deadline is fast approaching, as they are planning to open it to public in June 2018.
In the effort to commoditize the structure of the blockchain infrastructure, Orbs maintains a fully decentralized ecosystem. Since it already is decentralized, the adaption to the blockchain technology is very simple and smooth.
This infrastructure is meant to be useful to large-scale operations for consumers. The actual experience with this product is inspired by the functioning of similar platforms, like Amazon Web Services (AWS) and Service Level Agreements (SLA), which both have reliable resources.
The three veterans that founded Orbs originally are Tal Kol, Uriel Peled, and Daniel Peled, who are still all heavily involved in bringing the platform to the market. Each of them has consistent and detailed experience with building up consumer platforms, like the acquisitions for Alibaba and Wix.com. To reach the goals that they have for this large-scale app, the trio has recruited upwards of 60 employees from various startups and other institutions.
To give investors a better idea of what to expect from their platform, Orbs released two cornerstone documents – a position paper and the whitepaper. The position paper shows the technology and strategy behind Orbs. Whitepaper is common with any platform, and it shows the algorithm for Helix. Each one of the documents will help consumers to understand the preciseness of the technology needed for this application’s target market.
Some of the design partners with early influence include KiK (a chat application), Zinc (an AdTech giant), and a business intelligence platform called Endor. There are also two payment platforms involved – PumaPay and Zooz.