Orchid Protocol price is $0.10854500
| Market Rank | #563 |
|---|---|
| Market Cap | $ 64.2M |
| Volume 24h | $ 4.1M |
| Circ. Supply | 591.5M |
| Total Supply | 1000.0M |
| Max Supply | ? |
At the time of writing, the price of Orchid Protocol (OXT) has increased to $ 0.10854500. The cryptocurrency experienced a +3.35%% change in the past 24 hours. Interested parties can keep an eye on live price updates to monitor the fluctuating value of OXT.
Orchid Protocol is a blockchain-powered, decentralized platform designed to enhance privacy in internet browsing. At its core, Orchid Protocol orients bandwidth sellers in a structured peer-to-peer (P2P) network known as the Orchid Market. The primary function of this market is to facilitate a secure and private connection between users (customers) and bandwidth sellers, allowing users to access the internet through a series of proxies, enhancing privacy through what is known as a proxy chain.
The proxy chains facilitated by Orchid Protocol ensure that no single node or proxy has full knowledge of both the data's origin and destination, protecting the user's privacy and anonymity. The structure of the Orchid Market is designed to thwart collusion attacks, where multiple bandwidth sellers might try to work together to correlate information. Users who want to access the internet securely and privately can do so by paying bandwidth sellers in OXT, the native token of Orchid Protocol, effectively creating a decentralized virtual private network (VPN).
Orchid Protocol's unique selling point is its distinctive approach to internet privacy. Unlike traditional VPN services, Orchid Protocol utilizes the blockchain to create a distributed marketplace for computation, storage, and bandwidth. This design not only offers resistance against coordination and collusion between nodes but also aligns with the original ethos of an open and unmonitored internet, providing a foundation for what the creators consider to be a "new form of digital citizenship."
Security on the Orchid Market is enforced through the use of Ethereum smart contracts and the novel use of probabilistic nanopayments. These nanopayments provide a secure and efficient payment method on the network, without requiring trust between participants. The decentralized nature of Orchid Protocol, along with these security measures, promotes a trustworthy environment where users can trade bandwidth with confidence.
The Orchid Protocol was established with the vision of reviving the original qualities of the internet as an open platform for free communication and learning. The team behind Orchid sees the protocol as a response to growing surveillance, control, and censorship on the internet. By providing a decentralized framework for secure, private browsing, Orchid Protocol positions itself as a tool for protecting digital rights and fostering internet freedom.
Orchid Protocol's native token, OXT, has a circulating supply of 591.5M tokens. As for the total supply, it is designed to be 1000.0M tokens. It should be noted that the circulating supply may change as new tokens are released into the market or as existing tokens are utilized within the network.
Orchid Protocol (OXT) is available for purchase on a variety of cryptocurrency exchanges. Potential buyers can explore options such as Gemini, KuCoin, Mercado Bitcoin, Gate.io, among other platforms, to find the best market fit for acquiring OXT. As always, it’s important to do proper research and use secure methods when engaging with cryptocurrency transactions.
Keeping your OXT tokens secure is crucial. Users are advised to store their tokens in reputable wallets that support the Ethereum blockchain, as OXT is an ERC-20 token. To ensure the safety of your digital assets, consider using hardware wallets for long-term storage, and always maintain secure backup processes for your wallet's private keys and recovery phrases. Be wary of phishing attempts and only interact with verified and trusted services when using or transferring OXT.
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