Orbit Chain

Orbit Chain announced plans to update the ORC token. In the meantime, ORC tokens can be used on Ethereum.

Orbit Chain Renewal, ORC Token Can Be Used in Ethereum 

<img src="https://static.bittime.com/cms-static/upload/Orbit_Chain_Renewal_64fce97e1b.webp" alt="Orbit Chain Renewal" width="2048" height="1152">Bittime - Orbit Chain announces update plans for ORC token. This update aims to address the inconvenience caused by the temporary suspension of governance functions following a cyberattack on Orbit Bridge.&nbsp;&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/register?content_id=airdrop&amp;cn=400005"><img src="https://static.bittime.com/cms-static/upload/Banner_2_988b13eca2.webp" alt="Banner 2" width="1999" height="415"></a><h2 style="line-height:1.38;margin-bottom:4pt;margin-top:18pt;text-align:justify;" dir="ltr">Hacking Incident Orbit Chain&nbsp;</h2>Orbit Chain is a cross-chain project that functions to connect various blockchains and transfer digital assets between networks.&nbsp;However, Orbit Chain experienced a hacking incident. This incident caused governance functions on the Orbit Chain network to be temporarily suspended, causing concern.Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/en/blog/arbitrum-dukung-usdc-sebagai-token-gas-orbit-chain">Arbitrum Now Supports USDC as a Custom Gas Token on Orbit Chain</a><h2 style="line-height:1.38;margin-bottom:4pt;margin-top:18pt;text-align:justify;" dir="ltr">ORC Token Can Be Used in Ethereum</h2>As part of the update, Orbit Chain will temporarily suspend the ORC token staking and governance system on the Orbit Chain network in Q4 2024. Users who have ORC tokens currently being staked will be unstaken.One of the major changes in this update is the cessation of operations of the Orbit Chain network and the move of its functionality into the Ethereum ecosystem. In the meantime, users can use ORC tokens within the Ethereum ecosystem.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/reward/hamsterkombat?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/hamster_kombat_upcoming_listing_d9e1665dfb.webp" alt="hamster kombat upcoming listing.webp" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:18pt;" dir="ltr">ORC Token Staking and Governance System</h2>The new staking and governance system for ORC tokens is scheduled to open in January 2025. This update is expected to bring improvements in terms of security and functionality.In the new system, users will have the opportunity to re-participate in governance and earn rewards from staking their ORC tokens.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/staking?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/banner_staking_coin_8abe277d88.webp" alt="banner staking coin.webp" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:4pt;margin-top:18pt;text-align:justify;" dir="ltr">ORC Token Inflation Distribution</h2>During this transition period, Orbit Chain will also temporarily adjust the ORC token inflation distribution plan. Rewards for Orbit Bridge validators will continue to be distributed, but rewards for block producers and voting will be paused.&nbsp;Inflation tokens allocated for ecosystem initialization (20%), DeFi liquidity (20%), research and development (5%), and marketing (5%) will be accumulated until January 2025.Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/en/blog/arbitrum-usulkan-orbit-chain">Arbitrum Proposes Orbit Chain to Be Placed on a Blockchain Other than Ethereum</a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">How to Buy Crypto di Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/banner_cara_beli_ab926002c1.webp" alt="cara beli crypto di bittime" width="2985" height="620"></a>You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.&nbsp;Monitor graphic movement<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">&nbsp;</a>price&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?content_id=news&amp;cn=400001">Bitcoin (BTC)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH?content_id=news&amp;cn=400001"> Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL?content_id=news&amp;cn=400001"> Solana (SOL)</a>&nbsp;and other cryptos to find out today's crypto market trends in real-time on Bittime.

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Orbit Chain Renewal.webp

Orbit Chain Renewal, ORC Token Can Be Used in Ethereum Ecosystem

Arbitrum submitted a proposal to allow Orbit chains to be placed on non-Ethereum networks. Read this article for more news! 

Arbitrum Proposes Orbit Chain to be Placed on a Blockchain Other than Ethereum

<img src="https://static.bittime.com/cms-static/upload/Arbitrum_Proposes_Orbit_Chain_9b557578b3.webp" alt="Arbitrum Proposes Orbit Chain" width="2048" height="1152"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/?cn=400001">Bittime</a> -&nbsp;Decision The Foundation submitted a proposal to allow Orbit chain to be placed on non-Ethereum networks such as Bitcoin, Binance Smart Chain, and Cosmos. Read this article to find out the full news!&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/register?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_2_988b13eca2.webp" alt="Banner 2" width="1999" height="415"></a><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">Placement of Orbit Chain&nbsp;</h2>Currently, Orbit chains can only be placed on chains that receive security from Ethereum. This change is expected to increase ArbitrumDAO's revenue, although it may also affect the prominence of the Ethereum ecosystem.If this proposal is approved, Decision The Foundation will be responsible for collecting 10% of the revenue of the new chain. This is a strategic move to increase ArbitrumDAO's revenue, but it also brings with it some important considerations.&nbsp;One of the main concerns is how this step will possibly influence Ethereum's competitive advantage. By allowing the Orbit chain to operate on other networks, there is the potential that users and projects will move from Ethereum to other chains that are more efficient or cheaper, which could ultimately reduce activity and usage on the Ethereum network.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/staking?=cn400001"><img src="https://static.bittime.com/cms-static/upload/banner_staking_coin_8abe277d88.webp" alt="banner staking coin.webp" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">Impact on the Arbitrum Ecosystem</h2>Allowing Orbit chains to be deployed on other networks can open up new opportunities for Decision. Firstly, it can attract more projects and users to the Arbitrum ecosystem, as they will have more flexibility in choosing the blockchain that best suits their needs.&nbsp;Second, by getting 10% of the new chain's revenue, Arbitrum could have a significant additional source of income, which can be used to further develop their ecosystem.However, there are also risks to consider. This change could weaken the relationship between Arbitrum and Ethereum. In addition, it is necessary to ensure that the other chain that will be used has a level of security and reliability equivalent to Ethereum, to avoid potential security problems that could harm users.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_Blog_7d687b658d.webp" alt="Banner Blog.webp" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">Strategic Steps to Increase Revenue</h2>This proposal shows a strategic step from Arbitrum Foundation in exploring new ways to increase revenue and expand their ecosystem.&nbsp;By opening up the possibility to use other chains, Arbitrum can attract more projects and users, which can ultimately increase the adoption and use of their technology.However, it is important for the community to consider all aspects of this proposal before making a decision. Allowing Orbit chains to operate on other chains is a big step that can bring many benefits, but also requires careful consideration to ensure that the benefits are worth the potential risks.<h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">How to Buy Crypto with Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_Daftar_Bittime_c71afe9bcb.webp" alt="Banner Daftar Bittime" width="2985" height="620"></a>You can buy and sell crypto assets in an easy and safe way via Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.&nbsp;Monitor graphic movement<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">&nbsp;</a>price&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">Bitcoin (BTC)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH?cn=400001">&nbsp;Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL?cn=400001">&nbsp;Solana (SOL)</a>&nbsp;and other cryptos to find out today's crypto market trends in real-time on Bittime.