Exchange rate Orchid:
Supply in circulation
Popularity by CMC
What Is Orchid (OXT)?
Orchid (OXT) is the native token of Orchid, a cryptocurrency-powered virtual private network (VPN). Launched in December 2019, Orchid describes itself as the world's first incentivized, peer-to-peer privacy network. Its aim is to overcome internet freedom limitations by using cryptocurrency payments to allow anyone to purchase bandwidth from any participating provider. This is done using so-called probabilistic nanopayments, which occur using OXT, an ERC-20 standard token on Ethereum.
Regular payments to providers occur off-chain, allowing Orchid to avoid problems with congestion and gas fees on the Ethereum network. The service is pay-per-use, meaning that users only have to contribute funds when they actually connect, instead of paying monthly or annual fees.
How Orchid works?
A peer-to-peer (P2P) network of bandwidth sellers, termed the Orchid Market, is organized by the Orchid Protocol. Customers connect to the Orchid Market and pay bandwidth sellers in order to form proxies to specific Internet resources.
Unlike more common methods for sending and receiving data from the global Internet, proxy chains in the Orchid Market naturally separate information about the source of data from information about its destination; no single relay or proxy holds both pieces of information, or knows the identity of someone who does. The structure of the Orchid Market further supports this separation of information by providing strong resistance against collusion attacks - the ability of a group of bandwidth sellers to overcome this separation of knowledge.
People were able to freely learn and communicate over the Internet at first, but as it grew into a vast and powerful network, it became a place where people could be monitored, controlled, and censored. New civil contract around a distributed marketplace is built for computation, storage, and bandwidth to provide the framework for a new form of digital citizenship.
Orchid's four co-founders come from the blockchain and financial spheres. They are Dr. Steven Waterhouse as CEO, Jay Freeman, Brian J. Fox and Gustav Simonsson. Waterhouse is a well-known figure within cryptocurrency, having also co-founded venture capital outfit Pantera Capital, which is responsible for investing in some of the industry's most popular companies. Freeman is the creator of Cydia, an alternative Apple App Store for jailbroken Apple devices and currently used by around 30 million jailbroken Apple products Fox is responsible for the creation of United States bank Wells Fargo's first interactive online banking system in the mid 1990s Simonsson, meanwhile , is one of the Ethereum network's core security developers, helping with its original launch in 2015. According to official literature, Waterhouse became alerted to the need for internet privacy improvements after becoming the victim of a SIM-swap attack, and began researching VPN technology.
OXT is freely tradeable on major exchanges such as:
- Kraken and
- Coinbase Pro
Orchid total valuation of Market capital is of $ 202,599,718.67 taking the overall rank of # 187 in list of crypto, per coin Orchid holds value of $ 0.2935, Circulating Supply 690,690,084 OXT
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