What Is Orchid Crypto?
The Orchid crypto token OXT is a new digital currency that was released by Orchid Labs in December 2019. Established in 2017, the American blockchain startup Orchid Labs is developing an anonymous browser that would become an alternative to Tor and VPN and minimize censorship and online surveillance.
What Is Orchid (OXT) Coin?
The currency of the Orchid Protocol project is an ERC20 token based on the Ethereum blockchain. The total number of tokens issued will be 200 million units. As an Ethereum-compatible token, Orchid cryptocurrency it is currently available on many digital exchanges including StealthEX.
At launch, the OXT token was listed for a high of $0.55 but fell 50% later. It has moved and flattened slightly since then but remains struggling in the volatile markets.
What Are The Key Features Of The OXT Orchid Protocol Ecosystem?
- Orchid's solution is designed to motivate users to share their bandwidth with other network members. The protocol splits traffic by routing it through multiple nodes on the network. At the same time, it is extremely difficult to "figure out" a particular user of the site. The TOR system works according to a similar scheme, but its main drawback is the insufficient number of network nodes.
- Orchid's solution also allows users to exchange Orchid tokens. Thanks to micropayments on the Ethereum blockchain, the Orchid network will be completely decentralized, unlike a VPN.
- The Orchid Protocol project is not only uniting users who provide free power in the form of a Proxy to organize anonymous connections with users who need such a secure line but also increasing the interest of providers for such services through monetization. In short, it is proposed to create an Orchid market where bandwidth “sellers” and buyers will be represented.
Agents And Regular Members
Orchid Protocol network users can have two statuses: Agents and Regular Members.
Agents can buy and sell traffic, acting as a Node or Proxy.
To confirm the status of the Agent and to prove the provision of services, the provision of a “Medallion” is used – this is insurance against fraudsters’ access to the cryptocurrency network. Each Agent, when connected to the network, via a special algorithm checks the statuses of the medallions of all the nodes of the cryptocurrency network connected to it. If an incorrect status is found, a consensus decision is made, and this medallion is disconnected from the network.
Regular members can only use the services of Agents.
Profitability Of The Project
The maintenance of the network by its participants is stimulated by introducing the project economy. The economic profitability of the project is based on several postulates:
- The market for Proxy and VPN services is constantly growing. This is due to the growing need of private customers and companies for anonymous and secure routing between different segments of the Internet. For some countries, for example, China or North Korea, such a service is the only way to bypass government restrictions.
- The use of special encryption and routing algorithms makes it much more difficult to steal customers’ personal data and analyze their traffic. In addition, this approach allows to get rid of annoying targeted advertising and spam.
The Orchid developers believe that due to the advantages of their project, the user audience will grow rapidly. With a limited supply of Orchid tokens, this should lead to a smooth increase in the value of this cryptocurrency. The exact cost of transferring 1 Kb of data is not disclosed, but according to preliminary calculations it is equal to $0.00000014, which is much less than the competitors' prices.
What Are the Advantages of the Orchid Crypto Startup?
- The eminent project team, including well-known financiers, some of the main developers of Ethereum, and technical specialists.
- Good potential for this development, provided a workable product is released to the market.
- Favorable attitude of the community towards the goals of the project to endow people with protection from censorship, to allow them to freely communicate and express their opinions, regardless of the attitude of the state authorities towards this.
Is Orchid Crypto a Good Investment?
New cryptocurrencies come into play every day, and there are currently around 7000 digital currencies available for online trading. Choosing for your own portfolio can be a daunting task if you are unsure of which to choose.If you're interested in a long-term investment, the OXT crypto can be purchased for your digital wallet. New digital currencies, including the OXT token, take time to be active in the market and position themselves accordingly.
Orchid doesn't provide you with a quick fix, but it is an investment you can count on later. Choosing to get these digital tokens now at low prices could be the best decision for your portfolio.
How To Buy OXT Coin?
Today OXT price is 0.2794 USD. The best way buy Orchid crypto is StealthEX. It’s a super-friendly, non-custodial and limitless cryptocurrency exchange platform. So if you already have savings in crypto and wish to invest in Orchid cryptocurrency, just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example ETH to OXT.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your OXT coins.