What is Orbs currency
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| Orbs |
Orbs is a cryptocurrency that was created to provide an alternative form of payment for online transactions. It is based on the Ethereum blockchain and uses smart contracts to facilitate payments between users. The main goal of Orbs is to make it easier and more secure for people to buy, sell, trade, and store digital assets without having to rely on centralized third-parties or middlemen.
Unlike other cryptocurrencies such as Bitcoin or Litecoin which are mined using specialized hardware rigs, Orbs can be earned by participating in activities within the network such as staking coins (holding them in your wallet) or running validator nodes (maintaining a node that verifies transactions). This means anyone with an internet connection can earn rewards from their participation in the network without needing expensive equipment like ASIC miners used by Bitcoin miners. Additionally, since no mining takes place when earning Orbs tokens there are fewer environmental impacts associated with its production compared with traditional cryptocurrencies like Bitcoin which require large amounts of energy consumption during mining operations.
As well as being able to use it for day-to-day purchases such as buying goods online or paying bills you can also use it invest money into projects related directly within the platform itself through its own decentralized autonomous organization called “The DAO” where investors receive rewards based upon their contribution level towards any given project they choose support financially - similar conceptually how venture capital funds operate but without centralizing control over decision making power away from individual stakeholders who have invested resources into these ventures .
Overall ,Orb's currency provides another option outside mainstream banking systems allowing individuals access financial services while maintaining privacy security at same time . With growing interest this type digital asset could become widely accepted form payment across many different industries future years down line .