What makes Orbit Bridge differentiate from other bridge protocols
Safety/Credibility - 100% On-Chain Validation
Unlike other cross-chain platforms which use MPC(multiparty computation) and off-chain structure, all transactions and assets are managed 100% on chain under highly trusted validators in Orbit Bridge.
While a single private key is shared among validators in MPC, each validator has its own key in Orbit Bridge enabling enhanced security.
Scalability (1) - Connecting Token Economy
It is not simply a ‘bridge’ for transferring assets between chains. Rather it enables utilization of locked-up assets in a ‘vault’ on its original chain thereby connecting token economy.
E.g. Orbit Farm(connecting locked up assets to lending platforms through smart contract)
Successful connection with Venus on BNB Chain
Currently in the process of connecting with Compound on Ethereum
Scalability (2) - Cross-Chain Swap
USDTs from Layer 2 chains (Polygon, Avalanche, BNBChain etc) can be bridged to form a pool composed of ‘O’ assets(oUSDT-B, oUSDT-H, oUSDT), these pools can then be used to operate Cross-Chain Swap protocols
E.g. Portkey, a Cross-Chain Swap protocol on Belt Finance uses Orbit Bridge as a Cross-Chain solution and provides swap functions to Layer 2 chains within 2 minutes
Scalability (3) - Master Orbit
Current Market limitation:
DeFi protocols with governance tokens based on MasterChef(smartcontract) face intrinsic limitations as tokens can only be distributed in accordance with blocks on each specific chain. Thus, maintaining and managing identical tokens when expanding the protocol to various chains can be tricky for the business and development.
Orbit Bridge provides an environment where tokens that are issued on a certain chain can be bridged and distributed via received quantity not through block based calculations.
Scalability (4) - NFT Bridge and Function Customization
Orbit Bridge is an all-round bridge providing a comprehensive service in processing both multichain signatures and saved datas on blockchain as well as bridging tokens. Fungible Tokens, Non-Fungible Tokens and if necessary specific token types can be transferred through Orbit Bridge.
Efficiency - Setting Governance in the Origin Chain and Destination Chain
Experience multichain bridging with paying low fees
Orbit Bridge is open-source, so anyone who wants to take the initiative in transferring assets with their own governance consensus can create a vault within that chain. The great advantage of directly setting governance is that in an IBC where governance is structured, the overall policy and direction, including asset selection, are determined by consensus and no assets can be moved unless consensus is reached. Thus, even if Orbit Bridge has IBC governance that connects Ethereum and Klaytn, those who do not trust the established governance can create a new IBC bridge by setting their own governance. Additionally, one entity can set a different governance consensus between an Origin Chain and Destination Chain. For example, the total number of validators and minimum required signatures between the chains can be different (e.g. Terra origin governance 4-of-7, Tron destination governance 3-of-5).