Orchid Protocol OXT

1. Summary

Ranks

Liquidity

95

Developer

66

Social

93

Momentum (beta)

65

Stack Rank™

76

Price

$0.08 -3.5%

Market Cap

$45.74M (#748)

Supply

591.54M / 1.00B

Tags

xDAI Ecosystem Ethereum Ecosystem Gnosis Chain Ecosystem DePIN Proof of Stake (PoS) Andreessen Horowitz (a16z) Portfolio Blockchain Capital Portfolio Sequoia Capital Portfolio

More Metrics

Price
52W High price	$0.17
52W High date	14th Mar 2024 (8 months ago)
All Time High (ATH) Date	5th Apr 2021 (3 years ago)
ATH Price	$1.03
% From ATH	-92.85%
All Time Low (ATL) Date	15th Jun 2023 (1 year ago)
ATL Price	$0.05
% From ATL	57.12%

Supply & Trading Volume
Trading Volume (24h)	$8.15M
Total Supply	1.00B
Circulating Supply	591.54M

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Description

Orchid Protocol

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Orchid Protocol

The Orchid Protocol is a decentralized market that connects buyers and sellers of bandwidth. This peer-to-peer network allows users to purchase bandwidth from multiple sellers, forming a proxy chain to access specific resources on the Internet. The key feature of the Orchid Market is the natural separation of information about the source and destination of data, ensuring that no single relay or proxy has both pieces of information. This separation is further enforced by the market structure, which resists collusion attacks from groups of bandwidth sellers.

The Orchid Protocol aims to restore the original open nature of the Internet, which has become increasingly monitored, controlled, and censored. The project seeks to provide the framework for a new form of digital citizenship based on a distributed marketplace for computation, storage, and bandwidth.

Orchid Market

The Orchid Market is powered by a probabilistic nanopayment system built on the Ethereum blockchain. This system enables fast and secure transactions, allowing users to pay for bandwidth without being tied to a single VPN provider. Users can change providers easily and only pay for the bandwidth they use. Bandwidth sellers register their nodes in a provider directory, and their registration information is stored in a stake registry, enabling the Orchid app to discover random servers in the decentralized network.

Orchid Token (OXT)

The Orchid Token (OXT) is the native cryptocurrency of the Orchid Protocol. It is used to purchase bandwidth from the decentralized network of VPN providers. Users and bandwidth sellers must hold OXT to access and provide services. With a finite supply of one billion tokens, OXT is a scarce asset, making it a potential store of value in the long term.

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