Orchid (OXT) is an Ethereum token that powers the Orchid network, a peer-to-peer privacy tool that includes a decentralized VPN and other features designed to give users more control over their Internet connection. OXT can be used to pay for bandwidth or staked by bandwidth providers in order to operate a node.
How it works
There are two categories of users in the Orchid network: bandwidth users and bandwidth providers.Bandwidth users are the customers who use the VPN. Bandwidth providers are Orchid Nodes that have staked OXT tokens in order to supply their surplus internet bandwidth to users.
Bandwidth providers are required to stake OXT to give them incentive to behave responsibility. In exchange, they receive compensation in OXT tokens. The more OXT staked, the greater the chances for a reward.
But you don’t need to be a full bandwidth provider to benefit from staking OXT. Any holder of OXT can stake some of their tokens in a pool with a full bandwidth provider.
Keep in mind
Orchid aims to provide a distributed network of trusted, high quality bandwidth providers, allowing users to access the internet privately, and instead of relying on relying on one centralized VPN service.
Released: December 2019
Orchid is on the decline this week.The price of Orchid has fallen by 6.15% in the past 7 days. The price increased by 5.35% in the last 24 hours. In just the past hour, the price grew by 0.32%. The current price is $0.3478 per OXT. Orchid is 65.56% below the all time high of $1.01.The current circulating supply is 690,690,083.775 OXT.
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