To find out even more about this project, check out our deep dive of BitOrbit.
What Is BitOrbit (BITORB)?
BitOrbit is a decentralized social media platform on Velas, a high-speed blockchain similar to Solana. BitOrbit allows users to monetize their content on a trusted, private and blockchain-based platform. It aims to build a platform for influencers who strive to generate more revenue from their content, but still value their privacy and are looking for a solution to eliminate middlemen and gatekeepers.
Users can create a profile to host paid content and add a link to their BitOrbit profile to their other social media accounts or share it as a message. Moreover, BitOrbit offers an embedded chat feature and an embedded secure and non-custodial crypto wallet. The application is in development for Android and iOS.
Who Are the Founders of BitOrbit?
BitOrbit is a co-production of Velas and BlueZilla, a launchpad for cryptocurrency projects that has launched several successful projects, such as Adapad, ETHPad, BSCPAD and TRONPAD. BlueZilla describes itself as “an incubator like no other” that specializes in taking an innovative idea all the way through launch thanks to its expertise in market-leading advisory, investment, development, influencer marketing and legal support services. Despite its anonymous founders, BlueZilla managed to successfully incubate more than a dozen projects that saw their valuations grow between 38,000% and 1,200,000%.
What Makes BitOrbit Unique?
BitOrbit aspires to be more than just a platform, but rather a “movement that urges users to take back control of their social experience.” The app is to be focused on the best combination of social functions while respecting the user’s privacy. That is why BitOrbit chose to build on a decentralized blockchain. It allows the application to improve trust, transparency, and efficiency without intermediaries, as is common to traditional social media.
The main components of the BitOrbit app will be:
- A sharing platform, where users can create and share content similar to what they are used to from social media like Facebook and Twitter. Furthermore, users will be able to monetize their content within the application.
- A built-in non-custodial crypto wallet that enables users to store and send cryptocurrencies within the BitOrbit app. Thus, the ecosystem will not have to rely on external solutions for monetization, greatly reducing friction in the process.
- A peer-to-peer chat, where one can create groups and socialize with other users on the platform.
- An application suite that will be similar to the bot function in applications like Telegram. BitOrbit will deploy React Native, allowing developers and creators to customize their applications, thereby opening up another way to personalize one’s experience on the app.
- An** NFT generator** that users can stake their BITORB with to earn non-fungible tokens.
In providing these tools, BitOrbit empowers creators from the start to sell and distribute content on its application and monetize it natively, instead of them having to funnel their followers to an external site. Unlike traditional, centralized social media networks, BitOrbit vows to be firmly rooted in decentralization, democracy and open-source building. It thus aspires to build a real alternative to old social media networks.
Related Pages:
Check out VelasPad — a Velas-based launchpad.
Check out MetaVPad(METAV) — a metaverse launchpad.
Read our deep dive into BitOrbit.
Get the latest crypto news and trading insights with CoinMarketCap Alexandria.
How Many BitOrbit (BITORB) Coins Are There in Circulation?
BITORB is a deflationary utility token, where each transaction on the social network gets taxed, and the taxed amount is subsequently burned. Furthermore, token holders can use their tokens to vote for new features and receive unique NFTs generated by the native BitOrbit NFT generator. The total supply of BITORB is 1 billion and is distributed as follows:
- Team: 15%
- Advisors: 6%
- Liquidity: 12%
- Ecosystem: 18%
- Reserve: 5%
- Staking: 20%
- Private sale: 20%
- IDO: 3%
- Airdrop: 1%.
The initial supply at listing was 23 million and BITORB was listed at a public price of $0.007. The token was launched on Velaspad; a launchpad focused on projects incubated on the Velas blockchain that is also a project of BlueZilla.
How Is the BitOrbit Network Secured?
BITORB is a BEP-20 token Binance Smart Chain (BSC). It is also available on Velas, a high-speed EVM blockchain with up to 75,000 transactions per second that acts as a hybrid of Solana and Ethereum. Velas is a highly secure chain that achieves a transaction finality of one second, allowing it to support cross-platform decentralized applications that store the code and the user interface on-chain.
Where Can You Buy BitOrbit (BITORB)?
BITORB is available on PancakeSwap (V2) and Wagyuswap<span style="text-decoration:underline;">.</span>
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