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Orchid

Orchid (OXT) Ethereum

Rating3.7
  • Coin: Orchid (OXT)
  • Launch Date: 2019-12-16
  • Address: 0x4575f41308EC1483f3d399aa9a2826d74Da13Deb
  • Platform: Ethereum
  • Website: www.orchid.com
  • Explorers: etherscan.io, ethplorer.io
  • Tags: Distributed Computing, Polychain Capital Portfolio, Blockchain Capital Portfolio, Fabric Ventures Portfolio, Kenetic Capital Portfolio, a16z Portfolio, Web3, DePIN
  • Reddit: orchid
  • Facebook:
  • Twitter: OrchidProtocol
  • Ranking: 576
  • Rating: 3.7
  • # 476

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.