What is Orchid (OXT)?
Orchid (OXT) was launched in December 2019 as the first peer-to-peer network for matching incentivized 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 decentralized, 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.
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This article is for informational purposes only and takes no account of particular personal or market circumstances, and should not be relied upon as investment, tax, or legal advice. For investment, tax, or legal advice and before taking any action you should consult your own advisors. Note that digital assets such as cryptocurrencies present unique risks for investors. Please see our disclaimer regarding risks specific to holding digital assets before investing.
This content is correct as of November 2020
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