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Orchid

Orchid (OXT)

$0.294232 USD (1.39%)
0.00001521 BTC (-0.20%)
0.00048048 ETH (-1.36%)
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  • Market Cap
    $108,155,235 USD
    5,592 BTC
    176,617 ETH
  • Volume (24h)
    $8,796,459 USD
    454.79668007 BTC
    14,365 ETH
  • Circulating Supply
    367,584,352 OXT
  • Total Supply
    1,000,000,000 OXT

About Orchid

Orchid price today is $0.294232 USD with a 24-hour trading volume of $8,796,459 USD. Orchid is up 1.39% in the last 24 hours. The current CoinMarketCap ranking is #98, with a market cap of $108,155,235 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, BiKi, OKEx, VCC Exchange, and Upbit. 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."

Orchid Price Today
Orchid Price$0.294232 USD
24 Hour High / Low
$0.301278 USD /
$0.290160 USD
24 Hour Volume$8,796,459 USD
Market Cap$108,155,235 USD
Market Rank#98
Yesterday's Orchid Price
Yesterday's High / Low
$0.301278 USD /
$0.284484 USD
Yesterday's Open / Close
$0.289713 USD /
$0.295228 USD
Yesterday's Change$0.005515 USD (1.90%)
Yesterday's Volume$9,742,622 USD
Historic Orchid Price
7 Day High / Low
$0.322087 USD /
$0.257333 USD
30 Day High / Low
$0.370117 USD /
$0.195979 USD
90 Day High / Low
$0.505618 USD /
$0.195979 USD
52 Week High / Low
$0.943377 USD /
$0.105902 USD
All Time High
$0.943733 USD
(Aug 16, 2020)
All Time Low
$0.105902 USD
(Mar 13, 2020)
Orchid ROI
-19.07%
Orchid Supply Details
Circulating Supply367,584,352 OXT
Total Supply1,000,000,000 OXT
Max SupplyNo Data
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