What is Orchid? Everything you need to know about OXT (2024)

Orchid facts

Invest in Orchid today

Get started with BLOX and buy your favourite coins easily and quickly.

What is Orchid?

Orchid (OXT) is a cryptocurrency aimed at promoting privacy and censorship-resistant online communication. The project seeks to create a decentralized virtual private network (VPN) where users can encrypt and anonymize their internet traffic through the Orchid network. Orchid employs blockchain technology to enhance the privacy and security of internet users and has been developed by a team of experts in these fields.

How does Orchid work?

Orchid is designed to safeguard users' online privacy and security. The platform aims to provide decentralized and impartial central VPN services.

The Orchid network runs on the blockchain and employs a peer-to-peer (P2P) architecture to offer a decentralized virtual private network. Orchid enables users to communicate and surf the internet privately and securely without fear of surveillance or censorship. The network utilizes a micro-payment-based system to allocate and reward bandwidth, with Orchid tokens (OXT) serving as the currency. Users can purchase, send, and receive OXT tokens in exchange for Orchid VPN services. They can also contribute to the network by sharing their bandwidth.

The Orchid token

The OXT token is a utility token used to operate and manage the Orchid network. The token has a fixed supply of 1 billion tokens, contributing to its scarcity and, consequently, its value as a cryptocurrency. Additionally, the supply of OXT is gradually reduced through periodic token burns. What are the key functions of the OXT token?

• Bandwidth Payment: OXT holders can purchase bandwidth from Orchid providers, who receive OXT as payment.
• Staking: OXT holders can stake their tokens to participate in the transaction validation process on the Orchid network and earn rewards.
• Governance: OXT token holders have a say in the future development of the Orchid network and can vote on proposals and protocol changes.
• Rewards: Orchid offers rewards to node operators and providers for their contributions to the network. These rewards are paid in OXT and are used to enhance the performance of nodes and providers.

The Technology Behind OXT

The technology behind OXT is built on the Ethereum network and utilizes various technologies to offer a decentralized and secure virtual private network (VPN). What are the key technical aspects of OXT?

• Orchid employs a multi-hop architecture, where the user connects to multiple nodes before gaining internet access. This protects the user's privacy by making it difficult to trace the origin of traffic.
• The Orchid client is the software application users can download to access the Orchid network. This client connects the user to various nodes, the Orchid providers. Users pay them in OXT tokens to connect to their nodes and access the internet. The payment process is conducted through smart contracts on the Ethereum blockchain, ensuring secure and transparent transactions.
• The Orchid protocol is the underlying mechanism facilitating connections between users and Orchid providers. The protocol uses various technologies, including Open Systems Interconnection (OSI) and WebRTC, to provide a secure private connection. Additionally, Orchid employs a pricing mechanism to determine network usage costs. This price depends on supply and demand and is automatically adjusted by smart contracts.

The Orchid ecosystem

The Orchid ecosystem comprises several components that together form the network. Orchid users can use the software to establish a secure VPN connection and enhance their online privacy and security. Providers offer the necessary servers and bandwidth for these connections and receive OXT tokens as payment. The Ethereum blockchain is used to process transactions and execute smart contracts, making Orchid more secure and decentralized.

Orchid Labs is the company behind the development of the Orchid ecosystem and is led by privacy experts and blockchain developers. The Orchid ecosystem as a whole offers a privacy-focused and secure solution for using the internet, facilitated by the OXT token.

Benefits of Orchid

What are the advantages of Orchid that attract investors to the coin?

• High degree of privacy.
• Options for passive income.
• Fast and efficient network.
• User-friendly application for users.
• Flexible pricing mechanism.

Drawbacks of Orchid

Every coin has its pros and cons. What are the drawbacks of Orchid?

• Despite its focus on privacy, users are not entirely anonymous on the platform.
• High potential for price volatility.
• Relatively limited adoption and awareness.

Who is the founder of Orchid?

The founders of Orchid are a team of developers and entrepreneurs, including Steven Waterhouse, Jay Freeman, Gustav Simonsson, and Brian Fox. Orchid Labs, the company behind Orchid, was founded in 2017. Steven Waterhouse is one of the most prominent members of the founding team and serves as the CEO of the team. He has an extensive background in the technology and blockchain industry and previously co-founded and served as the CEO of the blockchain venture studio Pantera Capital.

Price forecasts

In 2026 experts expect a minimal price of €0.3000 and a minimal price of €0.9800 in 2031.

Good time to get in?

View all key statistics of the past 24 hours here.

Market information

Use these figures to get a better picture of the Orchid market.

OXT Return On Investment

See how much the price has risen or fallen over the years.

Historical Orchid price

Here you can see Orchid's daily prices, trading volume and market cap. Looking for a specific date? You can fill in the range all you want. Maybe you'll spot the one trend!

Ready for take-off?

Get started with BLOX and buy your favourite coins easily and quickly.