Orchid Price OXT

Orchid is an open-source overlay network that enables a decentralised virtual private network (VPN) by allowing users to purchase bandwidth from a pool of decentralised VPN service providers. Orchid works on a per-use basis, meaning users only pay for the bandwidth they use. Orchid Labs, Inc. was founded in 2017 by Dr Steven Waterhouse, Jay Freeman, Brian J. Fox, and Gustav Simonsson, and the company was created with the goal of offering users better digital privacy and restoring open and accessible internet for everyone.

Orchid accounts store digital currency on a blockchain. OXT tokens can then be used to pay for services, including the Orchid Client, a VPN client that supports Orchid accounts, alongside WireGuard and OpenVPN connections. OXT, the Orchid Network’s native cryptocurrency, can be held in an Orchid account and used to make nanopayments in exchange for a private and secure connection through Orchid’s VPN.

OXT is an ERC-20 token that’s obtained and staked by bandwidth providers that run Orchid server software. The network uses an Ethereum-based smart contract to reward users with traffic and revenue depending on the size of their stake.

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