Chapter 5 gives us a glimpse of what is happening in heaven just before the peace is to be broken and the 2nd half of the Tribulation Period is to begin. This chapter is explaining the events just before the unleashing of the seals, trumpets, and bowls after the 3 1/2 years of "peace".
These verses also confirm again that the saints saved from God's wrath (Great Tribulation) are in heaven before the Great Tribulation begins which is a part of Daniel's vision and a time appointed to Israel's calendar. The saints are already there and have experienced the Judgement Seat of Christ because they have their crowns. Verse 10 proclaims that Jesus has made them kings and priests to reign on the earth. Angels have not been given this promise.
Jesus is the only one able to unleash the Great Tribulation trials to bring the end of time because he faced temptation without sin. John was frightened when he learned that nobody was able to open the book in the vision. One of the elders came forward and calmed John saying there is one, the Lamb of God, Jesus. Only He is worthy to open the book. Revelation Ch.5
The seventh seal was opened that seems to signal the angels with the seven trumpets. At this point I believe God is giving us a more detailed version of the last moments of the Tribulation Period. There was "silence" or peace for a half an hour. This could relate to the peace for half the time of the Period of Seven Years appointed unto Israel. The remaining trumpets and bowls describe "again" the "wrath of the Lamb". Revelation 8:1-6
The anti-christ, now with a great sword, comes to take peace from the earth. This occurs around the 43rd month. The two witnesses are killed, resurrected, and ascend to heaven. This occurs during the 76th month. Declaration of the "Mark of the Beast" begins at this time which could possibly be an RFID personal identification chip that is made a requirement to buy or sell. Another possible mark may be the devotion to Allah according to the Muslim world. Remember that first Mohammad agreed to a peace treaty with Mecca to allow is followers to worship at the well of Abraham. When Mohammad had enough followers he took Mecca for himself. I believe this peace treaty will be the same. Revelation 6: 3-4