What is Orchid? And how does this decentralized VPN protect privacy & freedom on the network? =

What is Orchid? If you delve into the story behind Orchid, it soon becomes clear that for the founders it is more than a cryptocurrency or a blockchain. It’s a matter of principle. Freedom on the internet is important. Freedom to share, but also to keep private what you want to keep private. For example, what you and to whom you send something or what you view. Freedom without being followed. After all, when you walk down the street you don’t like being chased by a group of police officers or pushy salesmen. It works the same way on the internet.

The founders of Orchid consider this piece of freedom and protection of privacy an important right. The right to privacy on the internet and free access to the internet are fundamental human rights for them. In this article we will look at how Orchid, as a decentralized VPN, wants to contribute to the protection of freedom and privacy. We are looking for the answer to the question: What is Orchid?

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  • View quickly
    • What are the features of Orchid?
      • A VPN
      • How do probabilistic nano payments work?
      • How is your anonymity and privacy even more guaranteed via Orchid’s decentralized VPN?
      • Safety
    • How do you use Orchid?
    • Founders and organization
    • roadmap
    • The token OXT
    • Criticism
    • Conclusion

 

In this video Orchid explains the purpose and possibilities of Orchid:

 

What are the features of Orchid?

Orchid offers its users the opportunity to use the internet without tracing what you are doing there by means of a decentralized VPN (Virtual Private Network). Normally when you connect to the network you are only anonymous to a certain extent and your data is therefore also protected with restrictions. Your IP address can be traced and so can what you send, receive or view.

A VPN

On a virtual private network, what you do is not visible to others. This is because any data you send over the network is sealed. Furthermore, it masks your IP address and the VPN can block trackers and sites. This is all possible because everything goes through an encrypted server. The disadvantage of this centralized VPN is that there is a third party that facilitates the server. This makes this network possibly unsafe for a possible attack by hackers. And the question always remains whether this third party will actually protect your data. There have been VPNs in the past that still shared information with governments, so that the idea of privacy was lost a bit.

Orchid differs from the existing VPNs in this, because Orchid is a decentralized virtual private network. With a decentralized system, there is no need for a third party to facilitate the server. This is arranged with smart contracts and by the blockchain. The Orchid protocol runs on Web RTC, which is a shared web where video and audio data is transferred. The Orchid VPN is a peer to peer system, so a network of equal units, nodes.

These nodes offer bandwidth. To send your data or to move on the wild wide web at all, you need bandwidth. The bandwidth indicates the maximum speed at which data transfer takes place on the Internet. With their platform, Orchid ensures that providers can offer their bandwidth to users. This does not come from a central provider, but from different providers, so decentralized.

Providers connect to users based on the bandwidth they can offer. In this way, supply and demand are matched in the Orchid ecosystem. Orchid uses the WEB3 technology of the Ethereum blockchain for the ecosystem.

The bandwidth is also not paid with a subscription, which you would then have to take out with a provider. You only pay when you use the bandwidth with a pay-to-go system. The payments are made by the user as probabilistic nano payments and the payments are made in the native token OXT.

 

orchid.com

How do probabilistic nano payments work?

A user first creates an account for these nano payments. You do this by recording OXT tokens in an Ethereum smart contract. A ticket is required to claim the OXT tokens for the used bandwidth. This ticket takes the form of a probabilistic nano payment. As a user, you make a lot of these payments.

Probabilistic has the English word probably, probably, in it. So you’re making a lot of probable payments in nano size. This sounds a bit shady, because with only probable payments you will not get your groceries at the supermarket checkout. But in the case of the probable payments in the Orchid system, there is an actual ticket in between, claiming the OXT tokens tied up in an ethereum smart contract. So when you receive a ticket there is a chance that it is a real payment and a chance that it is not.

So part of all those payments is actually made and part is not. So it’s like the lottery, someone always wins and in this case it’s the provider of your choice. Ultimately, the bandwidth provider thus receives the agreed amount via the probabilistic nano payments. The nano payments ensure that the transaction costs remain relatively low. And so the anonymity of the users is even better guaranteed, because traceability back to the user becomes very difficult.

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orchid.com

This way you can use a network with bandwidth providers in which no third party is involved.

How is your anonymity and privacy even more guaranteed via Orchid’s decentralized VPN?

If you look at the Orchid site, you will notice that the developers have a thing for rabbits. The rabbit probably suits Orchid because of the tunnels he digs, which allow him to get to other places without anyone seeing how he got there. This is how you travel digitally with Orchid. A rabbit also hops from aisle to aisle. Orchid also calls a routing of data, from the start via a node to the final destination, a hop. The hop on Orchid’s VPN ensures that it is not clear exactly how the route runs, such as a corridor underground. Orchid creates layers that hide the details of your route IP address or physical location. For the ISP (internet service provider) it is not possible to see which sites you visit. You have free access to the internet without ISP firewalls restricting access. By making a string of hops, a multi-hop circuit, you make it even more difficult to trace.

Safety

The Orchid protocol is solidly put together in this way, is this system and the tokens 100% safe from hacks? Not quite, a weak spot in the system is the security of the user himself. If it is hacked via one of the exchange platforms, it is theoretically possible that hackers can trace transaction data of an orchid user here. The system is therefore not yet guaranteed to be safe, but it does have important innovations that have increased safety many times over.

How do you use Orchid?

You can use the Orchid VPN via the Orchid site. You can access the network in various ways. You can share an Orchid account with someone, you can create an account with iOS or purchase one with OXT tokens. Then you need to make sure you have Ethereum tokens for the network fees in your wallet that you can use in combination with OXT tokens for bandwidth usage. The Orchid application is currently available for IOS, Android, Macos and Linux. It will be available soon for Windows.

How to open an Orchid account:

  1. If you do not have an Ethereum wallet yet, you must first create one. Orchid itself recommends Metamask for this.
  2. Load the Orchid dApp.
  3. Make sure you have enough OXT tokens available for the service you want to use. Make sure you also have enough Ethereum for the network fees. You must have both these tokens in your wallet. OXT tokens are traded on various exchanges, including Binance and the Dutch exchange platform Bitvavo.
  4. Now you can create the account. For this you create a signer address.
  5. Connect the wallet to the app that you can download from Google play or the App store, open the app and go to “manage” to create a new hop.

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orchid.com

Founders and organization

Although the founders come from the business world, their mission with Orchid is idealistic. Privacy is a human right that must be protected. And Orchid can form the basis of digital citizenship.

Dr. Steven Waterhouse is a co-founder of private equity firm Pantera Capital, a leading investor in leading blockchain technology projects. Jay Freeman founded Cydia, an alternative Apple store. Brian J Fox designed Wells Cargo’s interactive online banking system. Gustav Simonsson worked for Ethereum as one of the key security developers. He was employed during the launch of Ethereum.

These are the fab 4 behind Orchid. Together they form a team with a solid foundation and each of them has great expertise in different fields. Orchid was developed from Orchid Labs, of which the 4 founders are also owners. In 2021, Orchid Labs will work with a large team of developers with 24 members. Orchid works from Berlin and San Francisco.

Various organizations and people have contributed to the development of Orchid. Gavin Wood, founder of Parity Technologies, among others, and Polkadot and Dan Boneh research partner of a16z Crypto contributed to the project as individual advisors.

Investors are:

  • a16z Crypto
  • Blockchain Capital
  • Polychain Capital
  • Crypto Bazar
  • DHVC
  • foundation capital
  • Sequoia Capital
  • Token Stack Partners
  • Zorax Capital

roadmap

  • October 2019 – Pre-release orchid app. This was a pre-release with the network discovery on your phone
  • December 2019 – Orchid app and network release Orchid, VPN launch including for the Android app
  • July 2020 – IOS app launch, Orchid VPN launch in Apple store with new in-apps feature
  • March 2021 – XDAI network support. Network integration, Integration iapps (in-apps purchase) Allows users to set up an account and pay by credit card for their OXT

The token OXT

Orchid (OXT) was launched in 2019. Prior to this, there was a pre-sale for investors whereby investments were rewarded with a SAFT (Simple Agreement for Futere Tokens, whereby tokens are paid for a fixed price and only distributed at launch) and 48 million USD was raised. The SAFT sale took place in 3 rounds. The first round was in 2017, the second round was in 2018 and the last was in 2020.

The distribution of the tokens then went as follows:

  • Seed SAFT 17.30% (no vesting schedule, this is the gradual distribution of the tokens over a period of time in percentages)
  • SAFT 2A 4.49% (18 month vesting schedule)
  • SAFT 2B 3.38% (1 year vesting schedule)
  • Team A 2.25%(no vesting schedule known)
  • Team B 9.35% (no vesting schedule known)
  • Team C 1.73% (no vesting schedule known)
  • Team D 0.37% (no vesting schedule known)
  • Network/treasury/other 51.13% for development and future sales

 

orchid.com

1 billion OXT tokens have been created. Burning is part of the network function to prevent inflation. The Orchid (OXT) token is an ECR20 token and can therefore be stored in a WEB3 wallet that is suitable for Ethereum tokens. Orchid itself recommends Metamask for this.

The starting price of the OXT tokens was 0.311923 USD and the tokens have achieved an All Time High in April 2021 of 1.03 USD. The market capitalization is over USD 178 billion as of May 2021.

OXT is currently traded on various exchanges including Binance, Bitcoin.com, Kraken, Bittrex, Okex, Gemini, Coinbase and the Dutch platform Bitvavo. Audits have been carried out by Consentys and Certora to ensure safe use of OXT.

Criticism

There are already several VPNs in development and on the market. As a decentralized VPN, Orchid Network is a new innovation. For users of the VPN network, 2 things are important: privacy protection and speed. Orchid VPN must be able to compete in this.

The idea and ideals with which Orchid Network was conceived are embraced in the tech and crypto world. The high level of privacy and the pay-to-go payment system are also highly appreciated. Furthermore, the open source with many possibilities for dapps and the simple usable app are praised.

The low download speed is mentioned by various tech reviews as a disadvantage of the Orchid VPN. You can, for example, watch Netflix via the orchid network, but it sometimes gets stuck.

According to some analysts, the Orchid network is therefore not yet ready for mainstream use. But this is a protocol made for the future. It is a project that is still in development. That is why it is still being followed with interest by both investors and developers.

Conclusion

Orchid VPN was born from a principle. Internet as open source where privacy is guaranteed is one of the fundamental human rights. The realization of this ideal by building a decentralized VPN is still in development. Orchid therefore focuses on the crypto exchange. The future will show whether these decentralized VPNs can live up to expectations and their mission.

Do you want to know more about Orchid or do you already have experiences with this cryptocurrency that you want to share? We’d love to hear from you in our AllsOverCrypto facebook group! Sign up and we’ll be happy to talk!

 

 

 

 

 

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