What is Orbitcoin (ORB) Crypto Beginner’s Guide
Orbitcoin is a decentralized, open-source digital currency that is available on a blockchain-based platform with the same namesake. Also known as ORBS, the Orbitcoin digital tokens are mined using a hybrid Proof of Work (PoW) and Proof of Stake (PoS) system. The block hashing algorithm for the PoW system is NeoScrypt, and the block hashing algorithm for the PoS is SHA-256d, both standard hashing algorithms that are in popular use all throughout blockchain technology.
As a decentralized cryptocurrency, Orbitcoin offers fast block target times (six minutes for PoW and three for PoS), with retargets every block using the Orbitcoin Super Shield (OSS). Both the PoW and PoS mining systems receive the same rewards, with 1 ORB token per block, no matter which system is used. This is unique, as many platforms reward differently. There are very low fees associated with transactions using the coin, and Orbitcoin offers instamining protection and advanced checkpointing against attacks; this means that ORB is a secure, low-cost coin that users can trade and utilize across the crypto world.
Orbitcoin was born from the Internet; its developer, Jonathan Weston, is from England and wanted to create a coin that made payments easier, more secure, and cheaper in both the digital world and the real one. Orbitcoin joins many other cryptocurrencies as a viable, alternative payment method that people can use all around the world.
Orbitcoin and cointopay.com
Orbitcoin has partnered with cointopay.com, a website which offers crypto payment and web wallet services. On cointopay.com, users can send and receive payments on a platform that is fully integrated with the banking system via the Bellfius bank and the payment service provider Payeer; together, these systems enable cointopay.com to be fully able to serve its users.
At its core, cointopay.com provides crypto coin payment services for consumers, merchants, and fundraisers all across the blockchain, and these services include the ORB token. Payments are easier, simpler, and safer as users are enabled to use their virtual cryptocurrencies in a multitude of ways.
The Orbitcoin Token (ORB)
The Orbitcoin token is Orbitcoin’s form of cryptocurrency. Users can download an Orbitcoin wallet from the token’s platform, and use their wallets to mine the coin either through Proof of Work or Proof of Stake. There are giveaways that include ORB tokens, or users can trade the coin on cryptocurrency exchanges. The developers of Orbitcoin have stated that ORB is currently and will always be free of charge. Most of the transactions concerning the coin are free, and if there are fees in rare cases, it will be at the minimal amount of about 0.01 ORBs.
There is a hard cap on the supply of Orbitcoin tokens at 3.77 million. ORB is available on several cryptocurrency exchanges, including Cryptopia, TradeSatoshi, and NovaExchange.
As a decentralized cryptocurrency, Orbitcoin is a viable solution for users who are interested in finding and using a coin that is government-free and doesn’t involve any central entities, banks, or organizations; instead, all control of the coin is in user’s hands as they store, receive, and send payments. Orbitcoin fulfills its developer’s goal, and is a viable alternative payment method.