What is Orchid (OXT)?
Orchid (OXT) was launched in December 2019 as the first peer-to-peer network for matching incentivised VPN-like service providers with online-privacy-seeking users.
A San Francisco-based “new internet” startup, Orchid Labs has built a surveillance-free layer atop the internet, a sort of ring-fenced liberty zone that's decentralised, scalable and sustainable. This one-fell-swoop dynamic gets achieved via an optimally aligned bandwidth marketplace where node providers, staking tokens, relay their VPN services over the Ethereum blockchain, matching supply with demand, as needed, users’ paying as they go.
The network features components designed to work together: the Orchid app, the Orchid VPN client that runs in the app, and the Orchid digital currency, OXT, together abetting an integrated, anonymously experienced internet. Orchid recently added a Chainlink “Oracle” (think of it as an animated, talking switchboard) that can sample providers’ bandwidth pricing across the network.
Among Orchid’s five founders are an eclectic mix of venture capitalists and digital developers with ties to big banks.
What is the price of OXT?
The OXT price has ranged between about $0.10 and about $0.80 since the start of 2020. As of late October 2020 OXT was around $0.25 cents.
The total supply of OXT tokens, underpinning the decentralized VPN-like service package, is fixed at 1 billion. Because at any given time some get burned out of existence, and with tokens frequently circulating into the market in irregular amounts, the supply of OXT often is hard to gauge.
Some forecasts have the OXT price level increasing steadily in the next five years but fintech trends are changing rapidly. Indeed, there's an overall demand for privacy services as more people are working at home.
How to buy OXT
With Uphold, you can set up an account, verify your identity and buy crypto with ease.
Here is how:
1. Go to Uphold.com and click ‘Sign up’
2. Enter your email address, phone number and your personal details
3. Tell us how you plan to use Uphold and provide some basic financial information (e.g., employment status and source of funds)
4. Verify your identity by providing an ID document and taking a ‘selfie’
… and you’re off to the races!
Just start trading.
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This content is correct as of September 2021
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