Orchid Protocol Oxt Price USD

Orchid (OXT) is the native token of Orchid, a virtual private network that runs on cryptocurrency (VPN).

When it started up in December 2019, Orchid said it was the world's first peer-to-peer privacy network that paid people to use it.

Its goal is to get around restrictions on internet freedom by letting anyone buy bandwidth from any participating provider using cryptocurrency. This is done with so-called probabilistic nanopayments, which are made with OXT, an ERC-20 standard token on Ethereum.

Regular payments to providers happen off-chain. This lets Orchid avoid problems on the Ethereum network like congestion and high gas fees.

The service is pay-per-use, which means that users only have to pay when they connect, rather than having to pay monthly or yearly fees.

The four people who started Orchid have backgrounds in blockchain and finance. They are Jay Freeman, Brian J. Fox, Dr. Steven Waterhouse, and Gustav Simonsson.

The main idea behind Orchid is to improve the VPN experience by using blockchain technology.

Using probabilistic nano payments based on cryptocurrencies, VPN users can use the service in an anonymous way that doesn't depend on a central server or the risks of a certain country's infrastructure.

As an ERC-20 token that can be traded freely, OXT also gives owners a reason to trade and increases the value of their network.

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