Orchid Protocol

orchid protocol ico

Orchid Labs is a company developing the open source Orchid protocol, which is a peer-to-peer network and online marketplace for selling and buying internet bandwidth. Orchid uses an overlay network built upon the existing internet, which is driven by a peer-to-peer tokenized bandwidth exchange, creating a more inclusive, liberated internet.

Orchid Labs Inc. is an open-source project committed to ending surveillance and censorship on the internet. The Orchid protocol uses an overlay network built upon the existing internet, which is driven by a peer-to-peer tokenized bandwidth exchange, creating a more inclusive, liberated internet.

Orchid Labs was founded in 2017 by Dr. Steven Waterhouse, Jay Freeman, Brian J. Fox, Gustav Simonsson, and Stephen Bell. By the end of 2017, the software will be published to the open source community. Early in 2018 the company plans to offer a public beta of the Orchid Protocol to billions of users on the internet. As more and more organisations and countries begin to censor or limit the internet, people will search for alternate methods to access the information they want.

Volume Network

However, investments listed on their website do give an indication of the type of project this will be. Orchid Labs Inc is an open-source project committed to ending surveillance on the internet. It builds on several proven protocols to create easy access and secure communications for its users. It will reward users who provide nodes in the network for sharing their resources and bandwidth.

Currently this is limited to experts in the technical field but as we have witnessed with VPNs, this will grow as technologies mature and become main stream. By building an anonymised and protected method to access the internet, the Orchid Protocol could become mainstream in future years. Basing this on Ethereum ensures that users are able to freely access the required payment method for such access.

The Orchid Protocol is one of the best uses of cryptocoins reviewed so far. It uses a semi-anonymous, easy to access token to provide anonymised access to the internet for people who need it.

And here we are longing for a version to try out, with hope in one hand and a too-good-to-be-true in the other. So, if you’re interested you should contact the team directly or join a Crypto Pool (see a list of active Pools here). The Orchid Network consists of relay and bridge nodes that stake Orchid tokens (ERC20) in order to earn fees for bandwidth.

An open platform to access information, collaborate, and communicate freely across borders. We’ve created an open-source protocol with a token-based bandwidth exchange to protect everyone around the world from censorship and surveillance. Orchid Protocol is a surveillance-free layer on top of the internet that enables secure and anonymous communication between users.

orchid protocol ico

It believes that the Internet is an open platform, invented for everyone to access information and communicate freely, without any surveillance or restrictions. The internet hasn’t guaranteed freedom and openness, triggering ideas to change that.

  • Its product – the Orchid Protocol – is basically an open-source technology that allows users to access the internet free from censorship and surveillance.
  • Founded by Polychain Capital, Orchid looks to build what could potentially become the most reliable and resilient tool on the internet, allowing people to access content without any restrictions whatsoever.
  • It’s fully decentralized, meaning that it can’t be controlled or shut down by a single entity or a government.

The Orchid protocol uses an overlay network built upon the existing Internet, which is driven by a peer-to-peer tokenized bandwidth exchange, creating a more inclusive, liberated Internet. Orchid Labs Inc. is a delaware company with the mission of promoting and supporting the research and development of the Orchid Protocol.

This protocol is being developed as an open-source project by Orchid Labs. A deeper token analysis of ICOs by BitMEX found that the majority of them had sold the Ether they raised, with only a total of about 25% actually held.

However, the Orchid protocol team will have to be prepared for massive censorship of their software if not backed by regulators. Counting solely on word of mouth is an ineffective marketing approach for a project of this size. We might argue that it’s still in the ideation phase, but wide acceptance is paramount in these kinds of projects.

2 — Market Opportunity & Competition: 5

Founded by Polychain Capital, Orchid looks to build what could potentially become the most reliable and resilient tool on the internet, allowing people to access content without any restrictions whatsoever. Its product – the Orchid Protocol – is basically an open-source technology that allows users to access the internet free from censorship and surveillance. It’s fully decentralized, meaning that it can’t be controlled or shut down by a single entity or a government.

Not only that, the token doubles as the accounting system (down to the packet level), allowing the person browsing to compensate the person providing the internet access for their resources. Users that want to access an uncensored & unrestricted Internet (bandwidth consumers) access pay the bandwidth contributors in Orchid tokens through a peer-to-peer (P2P) exchange. The Orchid Tokens (OCT) verify source nodes in which relay/exit nodes verify the token commitment (ETH smart contract) before/after accepting the connections & payments.

To understand the Project’s approach to internet browsing, one should first be familiar with the way internet works. Current internet traffic is routed through central servers, through ISP or VPN. While their whitepaper goes into the technical details of the protocol, challenges and the competition; there is very little information about this project on social media.

The list of nodes is stored in an Ethereum smart contract that is decentralized, accessible, and editable by anyone around the world. But consider that the VPN sector alone is expected to reach $106b by the year 2022 with a small concentration of nine organisations currently dominating this sector. The $600m valuation represents a little over half a percent of the expect market in 4 years. Should The Orchid Protocol manage to take even a small part of this market, that valuation appears extremely fair. It is a reasonable reflection of the project’s current size and hasn’t been inflated due to the team or potential market domination.

Orchid Labs Inc. was founded in 2017 by leading technologists and is headquartered in San Francisco, California. The Orchid Protocol is an open-source project that aims to end Internet surveillance and censorship through Blockchain technology. The Company establishes a peer-to-peer tokenized bandwidth exchange, using an overlaying Network built upon the Internet itself. It also puts forth an incentive program for people to run relay and exit nodes allowing for anonymous browsing, hence ending censorship and access restriction. Orchid Protocol is an open-source project committed to ending surveillance and censorship on the Internet.

Project Overview

It uses an overlay network built upon the existing Internet, which is driven by a peer-to-peer tokenized bandwidth exchange. Orchid Labs Inc. is the delaware company promoting and supporting the R&D of the Orchid Protocol.

Considering surplus bandwidth is ubiquitous, users are able to exchange bandwidth in a peer-to-peer- transaction by simply using Orchid tokens powered by Ethereum blockchain. Just like most tokens on Ethereum Blockchain, Orchid Protocol token is ERC20-compatible but comes with additional features in order to support low transaction fees. If the system designs are implemented and an audit is done to determine its effectiveness, users could feel much confidence in it, attracting more and more people and organizations to use it.

With Orchid Protocol, software that runs on computers, users get an open-source protocol that operates on a token-based bandwidth exchange, protecting them from surveillance and censorship. Combining its protocol with state-of-the-art-encryption, as well as a fully decentralized infrastructure, Orchid is able to give its users access to the internet without any surveillance whatsoever.