Orchid: A different type of privacy token
Introduction to Orchid (OXT)
Orchid (OXT) is a new ERC20 compliant token that takes aim in providing a service where users can purchase VPN bandwidth to their own personal needs. OXT is available on the huge U.S. exchange Coinbase, and holds a market cap around $15 million USD. Purchasing data by it’s bandwidth may not sound very reasonable to most people but it does come with it’s own set of perks.
What is Orchid?
Orchid is a digital currency that powers it’s own VPN client. Orchid VPN service does stand apart from many other providers out there in terms of features. These features include the ability to run traffic through multiple nodes in a multi-hop route. Orchid VPN is available for Android, MacOS, Linux, for IOS in beta testing only, and coming soon to Windows.
Orchid can be staked, this means you can earn so-called dividends on holding a certain amount of Orchid without moving it for a certain amount of time. This is one way OXT provides value in the Orchid network, being a “Bandwidth Provider” by running an OXT node, but to first run a node you must stake, and the more OXT staked the higher the reward is paid out. The other is being a “Bandwidth Consumer”. Being a bandwidth consumer you boot the Orchid VPN application up and with the OXT wallet linked to the VPN client you can instantly access the internet through Orchids VPN only paying for what you use with the linked wallet paying for your anonymous internet access.
The bandwidth market is run completely on a P2P network and is fully decentralized. The prime reasons for the Orchid token are to have a currency specifically tied to services on the Orchid network, and to align operator incentives for those who want to stake OXT, or nude a full Orchid node.
