Increasing transaction fees on the Bitcoin blockchain:

As most of our users are aware, the Bitcoin network has been suffering from severe congestion and ever increasing transaction fees, as a result. This has made the sending and trading of ORBs (tokens) on ‘Book of Orbs’ difficult and has affected our users negatively. Although we are still hoping that the Bitcoin community comes together to resolve the issue in the near future, we, as the ORB team, have decided to take measures to address the current issue, by supporting other token protocols. This is done, to progress the whole movement forward and uphold a high standard of functionality and experience, that we intend to give users of the app.

Counterparty protocol improvement and enhanced send

As announced previously, the Counterparty community has been working on the new enhanced send feature (CIP 9 and CIP 11).

The implementation of those changes is expected to reduce the cost of Counterparty transactions significantly; back down to a few cents per token (as opposed to current $1～up to $10 fees) and mitigate many of the issues our users are facing now. We’ll continue to support this community initiative and look forward to any future updates and improvements to the Counterparty protocol.

Supporting other platforms

At the same time, we are currently looking into other token platforms including Ethereum, Litecoin, Rootstock and a few other protocols, which support token generation and transactions. With this support, it is our goal to provide faster, cheaper and more stable token transactions on the ORB platform.

While we are not going to attach a specific date of delivery for multichain support, as of yet; we aim to act quickly. Team ORB is working closely alongside different communities and aims to release basic integration on BoO, as soon as we decide whether and which platform to adopt first.

Future vision of Project ORB as the digital asset collection platform

We strive to continue providing our users with the best platform for blockchain digital asset collection and are committed to maintaining the best user experience; regardless of the situation surrounding Bitcoin. By supporting multiple token platforms, even with a potential split or continued status quo of Bitcoin, you will be able to continue collecting and trading ORBs, with confidence and assurance. Alternatively, we will provide users with the means to transition their ORB collections to other platforms through the ORB platform in future, if necessary.

We are grateful for the overwhelming community support and believe that this is the right path forward for everyone, to put us in the best position for future success. We are going to make a further announcement as soon as we make a decision on multichain support.

We hope this statement clarifies any uncertainties users may have, allowing you to continue to enjoy your blockchain collection.