Orbs, a developer of encryption infrastructure, will raise $10 million

It is reported that Orbs, a cryptocurrency infrastructure developer, will raise US $10 million from DWF Labs. Orbs plans to continue to develop its infrastructure to increase adoption, including on the Ethereum Virtual Machine (EVM) chain and Open Network (TON). Orbs recently started to build the first non-EVM Layer 1 on TON.

Interpretation of this information:

Orbs, a cryptocurrency infrastructure developer, is set to receive a whopping $10 million in funding from DWF Labs. This funding will be crucial for Orbs as it looks to develop its infrastructure and increase its adoption rate. Orbs will be using this fund to expand its scope of operation and delve further into the Ethereum Virtual Machine (EVM) chain and the Open Network (TON).

Orbs is an important player in the cryptocurrency space, and this funding will give it the support it needs to develop innovative solutions that would advance the industry. The non-EVM Layer 1 on TON is a step in the right direction for Orbs as it is a groundbreaking innovation in the cryptocurrency space.

The EVM is a virtual machine that executes smart contracts on the Ethereum network. Its integration into Orbs infrastructure will give Orbs the ability to develop advanced smart contracts and decentralized applications (DApps) that would be available to users on the Ethereum network.

The TON network, on the other hand, is a blockchain infrastructure developed by Telegram. The TON blockchain offers users a decentralized platform that has the scalability and speed of centralized systems. The integration of Orbs into the TON network is a significant development in the blockchain space, as it will give developers access to decentralized infrastructure with limitless possibilities.

Orbs’ plan to develop non-EVM Layer 1 on TON is a move to create a more efficient and robust infrastructure. This innovation will increase the speed and scalability of transactions on the TON network while providing developers with more flexibility to execute smart contracts and decentralized applications.

Overall, DWF Labs and Orbs are making strategic moves to create a significant impact in the blockchain and cryptocurrency space. With more funding and innovative ideas, we can expect to see more groundbreaking developments that will revolutionize the industry.