Orchid (OXT) is the native token of Orchid, a cryptocurrency-powered virtual private network (VPN).
Launched in December 2019, Orchid describes itself as the world’s first incentivized, peer-to-peer privacy network.
Its aim is to overcome internet freedom limitations by using cryptocurrency payments to allow anyone to purchase bandwidth from any participating provider. This is done using so-called probabilistic nanopayments, which occur using OXT, an ERC-20 standard token on Ethereum.
Regular payments to providers occur off-chain, allowing Orchid to avoid problems with congestion and gas fees on the Ethereum network.
The service is pay-per-use, meaning that users only have to contribute funds when they actually connect, instead of paying monthly or annual fees.
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Latest Orchid (OXT) news, we cover Orchid (OXT) news and blockchain news. Follow the continued development of Orchid and the rise of a borderless, permissionless financial system. The evolution of the Orchid industry, the best ways to invest in Orchid, and how Orchid futures impact blockchain adoption. How industry stakeholders will work to make Orchid a mainstay in people's lives.
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