Orbs secures $10 million funding to enhance cryptocurrency infrastructure

03/14/2023 12:08 • Tech Ticker • 106 views

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, is set to receive $10 million funding from DWF Labs to continue enhancing its infrastructure for increased adoption in the market. This news comes as yet another indication that cryptocurrencies are becoming a mainstay, and the infrastructure around them is getting significant attention.

According to reports, Orbs intends to develop its infrastructure further, particularly in areas such as the Ethereum Virtual Machine chain and Open Network (TON), to improve the functionality and potential of the network for its users. This development will make it easier for people to use and access cryptocurrencies, which will ultimately lead to more mainstream adoption.

The company has recently started to build the first non-EVM Layer 1 on TON, which is a significant step forward in the journey to creating a more robust and accessible cryptocurrency infrastructure. This layer will provide additional functionality that will make it easier for developers to create more innovative applications and services on the network.

The influx of investment from DWF Labs will help speed up this development, and give Orbs additional resources to fund other advancements they plan to make. As more users and businesses adopt cryptocurrencies, the demand for better infrastructure will increase, so Orbs and other companies like them have a clear role to play in growing the market.

The news of this funding comes as a positive indication of the growing interest in cryptocurrencies and their associated infrastructure. The fact that companies like Orbs are getting significant investments is a clear sign that the market is maturing, and that investors are starting to see potential gains in this space.

In conclusion, Orbs’ new funding will enable the company to make significant strides in infrastructure development that will benefit users and developers. This is another step forward in the growth and adoption of cryptocurrencies, and it’s important that the industry continues to receive investment like this to lay the foundation for a more sustainable future.

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Orbs secures $10 million funding to enhance cryptocurrency infrastructure

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

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