Orchid is an Ethereum-based, peer-to-peer virtual privacy network (VPN) that allows users to access high-speed bandwidth across the world through a decentralized marketplace of service providers.
In this article, we will explore the Orchid network in detail to understand the concept behind it and how it functions. We shall also explore the protocol’s native OXT token, explain its use cases, predict its price through 2030, and list exchanges where it can be traded, before determining whether it is a credible cryptocurrency investment.
So, without further ado, let’s get started.
What is Orchid (OXT)?
Orchid is a decentralized, peer-to-peer, VPN that provides users with a platform to access high-speed bandwidth worldwide through a decentralized marketplace of service providers. The network facilitates anonymous communication and network routing, guaranteeing the security of the Ethereum blockchain, on which it is deployed.
The mission of the project is to help users avoid leaving a data trail when surfing the internet. This is enhanced by Orchid’s decentralized architecture that operates across a distributed network of bandwidth providers on Ethereum.
Orchid’s framework consists of a multi-hop VPN client, a routing network, the OXT token, and a probabilistic nano payments system for scalability. Just like a typical VPN, users simply need to download the Orchid app to run its client, and one account can be shared across an unlimited number of devices and people.
How Does Orchid Work?
Orchid uses a custom VPN protocol that runs on top of the common web standard WebRTC. Just like other virtual private networks, Orchid is also designed for high-performance networking and allows users to pay in the OXT token for the remote network resources they require access to.
The Orchid marketplace is where the VPN’s users can purchase proxy bandwidth from service providers. Payments are made at a per-packet level, meaning users only have to pay for the data they transmit and receive.
It also takes advantage of probabilistic nanopayments to overcome the slow and expensive transactions performed by the Ethereum network. This method enables Orchid to handle a high throughput of payments while keeping costs at a minimum.
Orchid has partnered with existing bandwidth providers to offer users improved connectivity. Nods are service providers participating in the network that offer their bandwidth using software that is similar to a typical VPN daemon, with Orchid at its base.
The protocol uses single-hop circuits to hide users’ IP and online activity from websites and ISPs, and multi-hop circuits to chain multiple Orchid nodes that prevent any single node from having enough data to identify users or their activity.
What is the Orchid (OXT) Token?
OXT is the native utility cryptocurrency of Orchid. The ERC-20 token powers and secures the decentralized VPN. All services on the network are priced in OXT, so users must hold the tokens to access them.
In addition to users, bandwidth sellers are also required to hold OXT, which they need to stake to become partners of Orchid and be able to advertise their services on the protocol. Orchid’s nonpayment system enables users to conduct high throughput and cost-effective transactions using OXT with multichain and Ethereum Virtual Machine (EVM) support.
OXT has a maximum supply of 1 billion tokens, with a market capitalization of $76.33 million. Currently, there are 979.77 million OXT tokens in circulation that have attained a trading volume of $25.5 million over the past 24 hours.
Orchid (OXT) Price Prediction: 2024, 2025, 2026, 2027, 2028, 2029, 2030
At the time of writing, OXT is trading at $0.07794 – up 3.18% in the last 24 hours. Based on its current market valuation, we have predicted the minimum, average, and maximum prices at which Orchid will trade between 2024 and 2030.
Note that the numbers given below are speculative and could change depending on the market performance of OXT.
YEAR | MINIMUM PRICE | AVERAGE PRICE | MAXIMUM PRICE |
---|---|---|---|
2024 | $0.069 | $0.16 | $0.17 |
2025 | $0.17 | $0.19 | $0.20 |
2026 | $0.23 | $0.27 | $0.28 |
2027 | $0.30 | $0.34 | $0.36 |
2028 | $0.37 | $0.42 | $0.43 |
2029 | $0.53 | $0.57 | $0.58 |
2030 | $1.07 | $1.10 | $1.12 |
Where To Buy Orchid (OXT) Tokens From?
Orchid (OXT) can be purchased and traded on the following cryptocurrency exchanges:
- Binance
- Coinbase
- OKX
- Kraken
- Upbit
- Gate.io
- HTX
- KuCoin
- MEXC
Is Orchid (OXT) A Credible Cryptocurrency Investment?
Orchid is a decentralized, peer-to-peer, VPN that leverages the security and transparency of the Ethereum blockchain to allow users access high-speed bandwidth worldwide through a network of distributed service providers.
The protocol takes advantage of a framework consisting of a multi-hop VPN client, a routing network, and a probabilistic nano-payment system to make it easier for its customers to use the service while not leaving any tracks behind surfing the web.
Looking at the OXT token’s price performance, it is clear that the project has a big role to play in the future. All things considered, I would recommend Orchid as a long-term cryptocurrency investment.
However, as is the case with every cryptocurrency, OXT is also prone to the extreme price dynamics of the crypto market. Therefore, you must do thorough research before making any investment decision related to Orchid.
Read more: Render Token Price Prediction 2024, 2025, 2030, Where To Buy, Is It A Good Investment?