Orchid coin – VPN of Cryptocurrencies

Orchid coin – VPN of Cryptocurrencies

We use the internet every day. Our curiosity drives us to explore and we do so without a care in the world because the internet is safe and things on it are free, or is it? Nowadays we pay for everything with data. Many times we’re okay with that trade even though we get walled in frequently and our data is collected without our consent and information.

Internet service providers may resell such information to advertisers without paying us anything, or other governments using similar tactics to monitor their country’s internet so that we can only see what they want us to see.

So to combat a group of privacy-focused developers who created Orchid. It is a new peer-to-peer privacy tool that includes a virtual private tunnel or VPN and other security features to protect you.

Just download the app in the Apple or Google Play Store and start protecting your privacy in a new way. If we look under the hood how orchid works sets it apart, orchid takes a sharing economy approach to privacy users around the world can sell bandwidth from their internet connections. Next, you can use those connections to make a tunnel. Orchid is powered by OXT. You can simply get an orchid account inside the app or for users who want to use crypto.

If you own cryptocurrency OXT you can create an account yourself, the decentralized network allows for anyone to sell their bandwidth which provides a tunnel for a user. The Orchid app can be used just like a normal VPN. You can buy OXT on any of the leading cryptocurrency exchanges and use it to fund your account directly, orchid can then be enabled with a tap. The software automatically picks up one or many providers you only pay for the bandwidth you use and there are no monthly fees. Orchid believes that a free open and private internet is a fundamental right. We all should have the confidence to explore the internet with curiosity and access our favourite content all over the world.

Orchid aims to provide a widespread network of reliable, high-quality bandwidth providers, allowing users to access the Internet privately, and instead rely on a single centralized VPN service.

OXT is a native Orchid currency. Orchid is a decentralised marketplace dedicated to other OXT users where they deposit tokens into a smart contract (staking) to list their virtual private network (VPN) services to other Orchid users. VPNs encrypt the user’s online browsing function making it impossible for third parties to track what you are doing.

Orchid distributed functionality of its VPN works on Ethereum blockchain by matching users who need bandwidth to sellers who are willing to share theirs. OXT prices have seen various ups and downs, especially in line with the broader crypto market.

How it works

In the orchid network, the users are classified under two categories

  • Bandwidth providers.
  • Bandwidth users.

Bandwidth users are the ones who use the VPN in order to access the internet. Bandwidth providers are Orchid Nodes are the ones who supply their surplus internet bandwidth to users by staking their OXT tokens.

Bandwidth providers are required to stake OXT. In exchange, they receive compensation in OXT tokens. The more OXT they stake, the greater are their chances for a reward.

But you don’t need to be a full bandwidth provider to benefit from staking OXT. Any OXT holder can stake some of their tokens in a pool with a full bandwidth provider.

Orchid aims to provide a widespread network of reliable, high-quality bandwidth providers, allowing users to access the Internet privately, and instead rely on a single centralized VPN service. 

 

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