Orbs Set to Expand Cryptocurrency Infrastructure Development with $10M Injection from DWF Labs
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.
Orbs, a developer of encryption infrastructure, will raise $10 million
Analysis based on this information:
Orbs, a cryptocurrency infrastructure developer, has announced that it will receive a $10 million investment from DWF Labs to further expand its infrastructure and increase adoption. The company plans to use this funding to drive development on both the Ethereum Virtual Machine (EVM) chain and Open Network (TON), with a specific focus on building the first non-EVM layer 1 on TON.
The EVM and TON are both open-source blockchain platforms that enable the creation and deployment of decentralized applications (dApps) and smart contracts. Orbs has been working to improve cryptocurrency infrastructure by providing a next-generation blockchain that can support large-scale business use cases.
With this investment, Orbs can focus on creating the infrastructure necessary for seamless and secure decentralized applications. The company believes that this will bring greater adoption of cryptocurrency and blockchain technology in general.
Developing the first non-EVM layer 1 on TON is a significant step towards expanding infrastructure possibilities, as the TON platform has yet to see any development in this regard. By enabling developers to build on a non-EVM layer 1, Orbs is opening up new opportunities for dApp development, which could potentially bring about a decentralized version of the internet.
Orbs is at the forefront of creating infrastructure for decentralized finance (DeFi), gaming, and enterprise use cases in cryptocurrency. With this significant injection of funds, the company is poised to have a significant impact on the sector.
In conclusion, the investment from DWF Labs is a testament to Orbs’ ability to provide a next-generation blockchain infrastructure that supports enterprise use cases. The focus on developing a non-EVM layer 1 on TON is a promising sign that the company is committed to expanding the possibilities of blockchain infrastructure. With a renewed emphasis on adoption, Orbs could be the infrastructure developer that brings cryptocurrency and blockchain technology to the mainstream.
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