So far we have been familiar with traditional currencies as staple mode of payment and transactions. But with the advent of crypto services, people from all around the world are prompted to explore its uses but are also keen for secured privacy. The best thing about these digital services is that they don’t let you depend upon any middleman or a third party, and even eliminate the interference of central authorities like banks and government. Today, we are going to introduce you to Orchid Network, and how does it ensure digital privacy to its users.
The Orchid Network helps in purchasing bandwidth from service providers, globally to the users, as it allows decentralized VPN (Virtual Private Network). To execute this function, the network utilizes OXT, an ERC-20 token. This token is featured with special VPN protocol, payment operations, and smart-contracts with algorithmic advertising. To link with bandwidth sellers, a provider directory is being used by the users of Orchid.
VPN is a very helpful tool for the users, for protecting their network link and getting more privacy. The way through which it executes its operation is by sending the data via a tunnel that is encrypted. There is no possibility of its tracing from outside. Kudos to Orchid Network, which is attached to this digital technology.
Previously, VPNs were being referred for the secured connectivity of employers to the company network. Now, in the current scenario, everyone can access to VPNs. Many of VPN based centralized services are indulged in utilizing data of users through logging and selling. Though they deny about it and are often prone to get shut down or even blocked.
OXT: The Digital Currency Of Orchid Network
As mentioned above, OXT is the cryptocurrency of the Orchid Network. The prime motive of this digital currency includes tracing of computing services, and its provider. Besides this, it offers value in multiple ways to its network (Orchid Network). Let us discover what are they:
Now, users can take benefit from paying for internet connection, which ensures security as well as privacy. All it requires is downloading of Orchid VPN, and then adding OXT to a wallet. After that, they can use the internet via a path that is chosen by the user for ensuring a worldwide secure link. Payment must only be done for consumed bandwidth.
The bandwidth marketplace is a P2P that operates fully in a decentralized way, having no dependency on a central authority. The main objectives of this new digital currency (OXT) is having a digital currency which is connected to the bandwidth use on the Orchid Network, and also to benefit it with the putting of operator motivation.
Here, an Orchid Node is being run by everyone, but it is required to stake OXT with the number of staked OXT, resulting in big reward opportunities in the Orchid Network.
According to cryptocurrency advisors, Orchid Network is a new dimension for digital privacy equipped with foremost P2P and motivated privacy networks with incentives. The Orchid digital currency, OXT, can be used for buying and selling bandwidth on the network. Browsing can be done privately and content can be used with no geographical limitation. Orchid is comprised of decentralized design, Open Source ethos, and multi-hop architecture. To summarize in one single sentence, it can be hopefully said that Orchid provides its users with digital privacy, which has never been expected before. The way it is attached to the VPN service makes it a commendable network for its users.