What is Orchid (OXT) ?

Orchid OXT Official Logo
Orchid OXT Official Logo

Orchid token or OXT is a cryptocurrency that runs on the Ethereum blockchain. OXT is used to pay for the VPN services that Orchid provides from anywhere in the world. You can buy and trade OXT on Coinbase. Orchid offers a decentralized VPN service that connects individual internet users to a global pool of bandwidth providers. Orchid is used to pay for services on the Orchid network, a decentralized, peer-to-peer marketplace for VPN providers. These providers can stake Orchid tokens to share their surplus bandwidth, acting as network nodes. The list of nodes is stored in an Ethereum smart contract that is decentralized and accessible to anyone around the world. Orchid uses decentralized servers that run on the Ethereum blockchain. You will be charged per IP packet using a unique innovation from Orchid called “probabilistic nanopayments.” This means you will only be charged for the bandwidth you use. Nanopayments are part of an off-chain system that allows all Orchid participants to exchange value without paying high transaction fees. This system is also more private than traditional payment methods.

Original author – Steven Waterhouse
Initial release
 – 5 August 2020
Development status – Active
Website –  orchid.com

Leave a comment

Your email address will not be published. Required fields are marked *