- Payments and Fees: Origen is used for gas fees on transactions and DApp interactions within the Orden Global Blockchain, replacing ETH.
- Staking and Governance: Origen allows users to become validators and participate in network governance through staking.
- Liquidity and Rewards: Users can provide liquidity in Origen to the protocol to facilitate transactions and receive rewards.
- Scalability: The system enhances Ethereum’s scalability by enabling faster and more cost-effective transactions on sidechains.
In the dynamic world of cryptocurrencies, where innovation is key to addressing financial challenges, Orden Global Corp. has successfully launched version 1.0 of its blockchain. This development not only tackles scalability and development issues within Ethereum’s blockchain infrastructure but has also drawn the attention of significant investors from both decentralized and centralized sectors. Here, we answer some frequently asked questions about this cutting-edge technology.
How Does the Orden Global Blockchain Work?
Orden Global introduces a second-layer blockchain solution that functions as a “blockchain within another blockchain.” Its main goal is to move beyond Proof of Work (PoW) and adopt Proof of Stake (PoS) consensus. Transactions and blocks on the Orden Global network are processed independently, with information periodically synchronized with the Ethereum network for storage.
At regular intervals, a “checkpoint” is established, whereby information is saved on the Ethereum blockchain, creating a bridge that links two distinct blockchains. This method not only ensures data integrity but also facilitates interoperability between networks.
How Does the Orden Global Network Operate?
Orden Global operates through a network of decentralized nodes that create a sidechain linked to Ethereum or any other compatible network. Utilizing the Proof of Stake (PoS) consensus protocol, the Orden Global sidechain offers high transaction speed and enables bidirectional communication between DApps on both networks. This means users can transfer value between Ethereum and Orden Global’s DApps without worrying about compatibility issues.
In its upcoming version 2.0, Orden Global plans to extend this capability to additional blockchain networks, further expanding its ecosystem.
On-Chain Checkpoints
To manage the exponential growth of the sidechain when connecting to multiple networks, Orden Global’s blockchain employs an on-chain checkpoint system. This system ensures that each node on the network stores only a specific number of blocks, maintaining both efficiency and scalability.
Staking and Native Cryptocurrency (ORIGEN)
Orden Global’s blockchain network operates with its native cryptocurrency, Origen, which is used for staking. Origen is employed in selecting validators and block generators, with each created block including a tree uniquely associating all transactions, which is then sent to the Ethereum network.
Transaction Costs
The cost of transmitting data to the Ethereum network is considerably lower compared to Ethereum’s on-chain transactions, and payments are made in Origen, which has a fixed supply of 1,000,000,000,000 units.
Key Features of ORIGEN