Orchid

Orchid OXT

$0.2673
Market Cap $ 98.251 MM (#334)
24h Volume $ 12.629 MM
Chg. 24h: -8.38%
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Orchid project purpose and description

Orchid clarity of purpose

Orchid purpose and aspects

OXT is a new Ethereum (ERC20) compliant digital currency used to exchange value on the Orchid network. OXT is used by users to purchase VPN service. Orchid node providers receive OXT in exchange for their bandwidth.

Orchid categories

NetworkingMarketplaceExchange

Short description

Orchid Protocol is an open-source project committed to ending surveillance and censorship on the Internet. It uses an overlay network built upon the existing Internet, which is driven by a peer-to-peer tokenized bandwidth exchange. Orchid Labs Inc. is the delaware company promoting and supporting the R&D of the Orchid Protocol.

Abstract

We present Orchid: a decentralized market for anonymous communication and virtual private networking. Extant privacy solutions are either opaque commercial services with concomitant centralization risks or free peer to peer networks which lack the proper aligned incentives for service quality and economic security at scale. Orchid is a bandwidth market where node providers stake tokens to advertise their services using the Ethereum blockchain. Clients construct single or multi-hop onion routed circuits by selecting nodes randomly weighted on stake and filtered on secondary criteria (price, location, etc.). Staking aligns incentives against operator malfeasance and linear stake weighting in particular neutralizes sybil attacks. Orchid uses a probabilistic payment system which scales to millions of transactions per second, enabling a highly liquid bandwidth market without a trusted central party. Payments at packet scale allow high frequency trustless interactions by reducing the implicit floated balances between transactors to miniscule levels.

Link to Roadmap: n/a
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