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OXT

OrchidOXT

Rank #129
Token
On 20,077 watchlists

Orchid Price (OXT)

$0.2972
0.09%

0.000009215 BTC

0.0002164 ETH

Low:$0.2910
High:$0.3107
24h
OXT  Orchid OXTPrice: $0.2972 0.09%
Market Cap
$109,245,943
0.09%
Fully Diluted Market Cap
- -
Volume
24h
$18,343,373
2.73%
Circulating Supply
367,584,352 OXT
Total Supply
1,000,000,000

Orchid Chart

 

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About Orchid

Orchid price today is $0.297200 USD with a 24-hour trading volume of $18,343,373 USD. Orchid is down 0.09% in the last 24 hours. The current CoinMarketCap ranking is #129, with a market cap of $109,245,943 USD. It has a circulating supply of 367,584,352 OXT coins and the max. supply is not available.

The top exchanges for trading in Orchid are currently Binance, Huobi Global, OKEx, BiONE, and VCC Exchange. You can find others listed on our crypto exchanges page.

What Is Orchid (OXT)?

Orchid (OXT) is the native token of Orchid, a cryptocurrency-powered virtual private network (VPN).

Launched in December 2019, Orchid describes itself as the world’s first incentivized, peer-to-peer privacy network.

Its aim is to overcome internet freedom limitations by using cryptocurrency payments to allow anyone to purchase bandwidth from any participating provider. This is done using so-called probabilistic nanopayments, which occur using OXT, an ERC-20 standard token on Ethereum.

Regular payments to providers occur off-chain, allowing Orchid to avoid problems with congestion and gas fees on the Ethereum network.

The service is pay-per-use, meaning that users only have to contribute funds when they actually connect, instead of paying monthly or annual fees.

Who Are the Founders of Orchid?

Orchid’s four co-founders come from the blockchain and financial spheres. They are Dr. Steven Waterhouse as CEO, Jay Freeman, Brian J. Fox and Gustav Simonsson.

Waterhouse is a well-known figure within cryptocurrency, having also co-founded venture capital outfit Pantera Capital, which is responsible for investing in some of the industry’s most popular companies.

Freeman is the creator of Cydia, an alternative Apple App Store for jailbroken Apple devices and currently used by around 30 million jailbroken Apple products.

Fox is responsible for the creation of United States bank Wells Fargo’s first interactive online banking system in the mid 1990s.

Simonsson, meanwhile, is one of the Ethereum network’s core security developers, helping with its original launch in 2015.

According to official literature, Waterhouse became alerted to the need for internet privacy improvements after becoming the victim of a SIM-swap attack, and began researching VPN technology.

What Makes Orchid Unique?

The main idea behind Orchid is the use of blockchain technology to enhance the existing VPN experience.

Using cryptocurrency-based probabilistic nanopayments, users can benefit from anonymous VPN usage which does not rely on a centralized server and the risks associated with a particular country’s infrastructure.

As a freely-exchangeable ERC-20 token, OXT also provides a trading incentive to own and increase network value for owners.

A separate feature allows users to purchase so-called “Orchid credits” with fiat currency. In this instance, OXT cannot be withdrawn and converted elsewhere, only spent with network providers. This is designed to appeal to those who do not wish to transact in cryptocurrency.

The appeal of Orchid, however, is not just among cryptocurrency users. Developers highlight a growing trend for internet freedom in the face of mounting geopolitical tensions and local restrictions.

Web 3.0 technology is used to provide some semblance of an open internet, as it was conceived when consumer access began to go mainstream in the early 1990s.

Learn more about Mysterium here.

New to cryptocurrency? Check out everything you need to know with CoinMarketCap’s educational resources here.

How Many Orchid (OXT) Coins Are There In Circulation?

OXT has a supply of 1,000,000,000 (1 billion) units. There is no inflation, but the possibility for deflation is maintained by possible token burns of OXT as part of regular network function.

Of the total supply, 51.13% are earmarked for network incentives (held in the Orchid Treasury) and other purposes. 17.3% went to investors as part of the seed Simple Agreement for Future Tokens (SAFT), 4.49% for SAFT 2a and 3.38% in SAFT 2b.

The remaining tokens will be distributed among four development teams. Multiple vesting schedules are in place, depending on the purpose and destination of the tokens.

How Is the Orchid Network Secured?

OXT is an ERC-20 standard token on Ethereum, and security risks revolve mainly around an attacker’s ability to harvest user data from Orchid itself.

Given that very little information is contained in the platform’s smart contracts used for payments, the weak links in the chain mostly lie with the user. As developers note, involving third parties in token purchases to use Orchid — for example, major exchanges — could ultimately lead to an attacker learning a user’s identity by tracing transactions to their exchange wallet.

Where Can You Buy Orchid (OXT)?

OXT is freely tradeable on major exchanges such as Binance, Kraken and Coinbase Pro, with cryptocurrency, stablecoin and fiat pairs available.

To learn more about how to purchase Bitcoin (BTC) and other cryptocurrencies, take a look here to get acquainted with the options."

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OXT

Orchid

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USD

United States Dollar

OXT Price Statistics

Orchid Price Today
Orchid Price$0.2972
Price Change24h$-0.0002698

0.09%

24h Low / 24h High
$0.2910 /
$0.3107
Trading Volume24h$18,343,372.72

2.73%

Market Dominance0.01%
Market Rank#129
Orchid Market Cap
Market Cap$109,245,943.08

0.09%

Fully Diluted Market CapNo Data
Orchid Price Yesterday
Yesterday's Low / High
$0.2845 /
$0.3095
Yesterday's Open / Close
$0.2870 /
$0.2995
Yesterday's Change

4.34%

Yesterday's Volume$17,576,093.63
Orchid Price History
7d Low / 7d High
$0.2655 /
$0.3354
30d Low / 30d High
$0.2217 /
$0.3354
90d Low / 90d High
$0.1960 /
$0.3852
52 Week Low / 52 Week High
$0.1059 /
$0.9434
All Time High
Aug 16, 2020 (5 months ago)
$0.9437

68.51%

All Time Low
Mar 13, 2020 (10 months ago)
$0.1059

180.64%

Orchid ROI

18.26%

Orchid Supply
Circulating Supply367,584,352 OXT
Total Supply1,000,000,000 OXT
Max SupplyNo Data

Orchid Markets

No Data