Cardano's (ADA) DeFi ecosystem is going to have its own scalability solution that moves the computations off-chain to reduce pressure on Cardano's mainnet.
Cardano to meet zk-rollups: What is Orbis?
The team at Orbis, an early-stage Cardano scaling solution, has published a request for funding on Project Catalyst's Ideascale platform. Per the document, Orbis product has all the chances to significantly advance Cardano's performance and dev experience.
Enter Orbis.https://t.co/cdK3T6O8a8https://t.co/FIKxpQQUtM
— Orbis (@orbisproject) February 24, 2022
Just as with other zk-based solutions, transactions on Orbis will take place off-chain and then be broadcast to Cardano's mainnet through a resource-efficient mechanism.
The protocol is set to utilize zkSNARKs (Succinct, Non-interactive, ARgument of Knowledge), a type of zero-knowledge proof that does not require two-way interaction between on-chain and off-chain modules.
As per the statement, the team is requesting $1 million in funding to develop and launch Orbis on Cardano (ADA).
ZCash's Halo protocol will give Cardano's performance a boost
The protocol team is lead by Ryan Matovu, a founder of Ardana, which is Cardano's first stablecoin and DeFi hub. As covered by U.Today previously, Ardana made headlines with its decentralized Cardano-Near bridge.
Cardano's Orbis will leverage Halo 2, a technology developed and stress-tested by mainstream privacy-focused blockchain ZCash (ZEC).
Orbis ecosystem will be highly scalable: it even allows users to built Layer 3 solutions on its top.
As we previously covered, Cardano's community incubator, Project Catalyst, is the largest support initiative for Cardano-focused early-stage products.
Tomiwabold Olajide
Gamza Khanzadaev
Yuri Molchan
