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, 2022Top U.S. Digital Assets Official Patrick Witt Joins Ripple SwellRipple CTO Names Key Threat for Hard Crypto Wallets, Dogecoin (DOGE) Treasury Soon to Go Public, Peter Brandt Responds to Bitcoin (BTC) Price Action — Crypto News DigestCrypto Market Prediction: Shiba Inu (SHIB) and Dogecoin (DOGE) Prices Form Critical Triangle, Bitcoin's (BTC) Last Chance to Hit $120,000Fidelity's Timmer Reveals Why Bitcoin Bulls Should Be Cautious
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.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team