Academy Company Updates Article

Orchid – The Digital Privacy We’ve Been Longing For

2020.03.27

The internet today is increasingly fractured, surveilled, and censored as authorities became more effective at monitoring and inspecting connections, and the demand for privacy and anonymity tools, such as Virtual Private Networks (VPNs) has been on the rise. While VPNs are effective in blocking censorships, let’s not forget that they are also centralized businesses, users usually have little assurance that their VPN providers are not sneakily logging and sharing their data to comply with government policies or the lure of additional profits off selling data. 

Is a peer-to-peer privacy network the cure to the problem?

Introducing Orchid

Founded in 2017, Orchid aims to develop a suite of tools that create a more private and open internet, where anonymity could be guaranteed using the transfer of internet bandwidth among users. It enables a decentralized virtual private network (VPN) for users to buy bandwidth from a global pool of service providers. To do this, Orchid issues its own token OXT, a new VPN protocol for incentivized bandwidth proxying, and smart-contracts with algorithmic advertising and payment functions. 

Orchid’s bandwidth marketplace is peer-to-peer and runs in a completely decentralized manner without reliance on any central party. To purchase digital privacy services, users need to first install the Orchid VPN and add OXT to a wallet, then they can access the internet through a user-chosen path to ensure a secure connection anywhere in the world, and they only need to pay for the bandwidth they consume via the nanopayments system. This system is the foundation of the peer-to-peer marketplace, designed to lower the transaction fees on small payments by amortizing transaction fees across many transactions and even across multiple parties.

On the Orchid network, users can also operate an Orchid Node as they stake their OXT per the bandwidth that they are providing. The more OXT staked, the greater the chances of getting rewards in the network. The nodes can be then used by anyone globally.

Decentralized internet to protect anonymity is not a new concept today, but what’s new though is offering VPNs on a blockchain-based setting to capitalize on the decentralized ledger technology. Let’s stay tuned to see how Orchid can unleash its ability to fight censorship through the positive incentive alignment with OXT as it continues to develop in the future.

Regain Your Internet Privacy Today

We are pleased to announce the listing of Orchid (OXT) on OKEx. Please take note of the following go-live schedule:

1. OXT Deposit – 09:00 Mar 27, 2020 (UTC)

2. OXT Spot Trading – (OXT/USDT, OXT/BTC markets) – 09:00 Mar 30, 2020 (UTC)

3. OXT Withdrawal – 09:00 Mar 31, 2020 (UTC)


Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.


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