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Orchid Protocol
Protocol

Orchid Protocol

Protocol

Orchid is a decentralized, market-based system for anonymous communication and virtual private networking, including a bandwidth market where node providers stake tokens to advertise their services using the Ethereum blockchain and receive payment in OXT.

Token Details
Token Platform:
Ethereum
Coin Details
Ticker:
OXT
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Only private sale.

In the Orchid marketplace, incentives are used to create economic security and reliability between clients and servers in a permissionless way. This peer-to-peer marketplace is dynamic; clients can select single- or multi-hop onion routed circuits by selecting nodes randomly weighted on stake and filtered on secondary desiderata (price, location, etc.). A single hop route has the benefits of a normal VPN connection, creating a tunnel to route your traffic over a public network or your ISP, while a multi-hop connection provides additional privacy benefits by securing your network data from any one provider.

Traditional VPNs today are limited; the centralized nature of their offering cannot compete with the distributed properties of combining multiple different providers to offer multi-hop level security. And even if a single company offers multiple hop VPN routes, there is still a single centralized entity you are placing your trust into. Using a distributed system allows you, as a user, to distribute trust across multiple distinct VPN providers, thereby breaking apart the flow of your information so no single entity can see the entire picture. Such a system is not possible when purchasing a VPN service from a single provider.

Staking aligns incentives against operator malfeasance, and linear stake weighting in particular neutralizes sybil attacks. A stochastic nanopayment solution scales transaction throughput, enabling a highly liquid bandwidth market without a trusted central party. Nanopayments on the scale of packets allow high frequency, trustless interactions by reducing the implicit floated balances between transactors to miniscule levels.

Core Technology
Orchid's technology is highly modular. Each component is intended to be somewhat separable, and to interact well with a particular role in the larger ecosystem. Abstractly, the system involves:

  • Users who run the Orchid App
  • Service providers who run the Orchid Server
  • A protocol that intermediates client/server interactions
  • Several smart contracts deployed to the Ethereum blockchain that support the economically sound and technically secure operation of the protocols

In pursuit of security, we have tended to remove features and design elements that we did not think would continue to function basically "as is" for many years.

Orchid Cryptocurrency (OXT)
OXT is expected to be a "pre-mined" cryptocurrency based on the ERC-20 standard that will be used to decentralize trust between buyers and sellers in the Orchid marketplace. It also functions as a tool to promote security and healthy market dynamics, as providers can adjust their OXT stake to remain competitive. At launch we intend there to be a limited supply of one billion (1,000,000,000). We do not intend ever to create any additional OXT.

Steven Waterhouse
Co-founder
Involved in 1 project
Brian Fox
OpenSource Software
Involved in 1 project
Jay Freeman
Network Security
Involved in 1 project
Source
Rating
4.1 / 5
MoNoico 404
3 / 5
Average
3.6 / 5
Ratings has been aggregated in date 27 November 2019
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Protocol

Orchid Protocol

Orchid is a decentralized, market-based system for anonymous communication and virtual private networking, including a bandwidth market where node providers stake tokens to advertise their services using the Ethereum blockchain and receive payment in OXT.

Only private sale.

Token Details
Token Platform:
Ethereum
Coin Details
Ticker:
OXT

In the Orchid marketplace, incentives are used to create economic security and reliability between clients and servers in a permissionless way. This peer-to-peer marketplace is dynamic; clients can select single- or multi-hop onion routed circuits by selecting nodes randomly weighted on stake and filtered on secondary desiderata (price, location, etc.). A single hop route has the benefits of a normal VPN connection, creating a tunnel to route your traffic over a public network or your ISP, while a multi-hop connection provides additional privacy benefits by securing your network data from any one provider.

Traditional VPNs today are limited; the centralized nature of their offering cannot compete with the distributed properties of combining multiple different providers to offer multi-hop level security. And even if a single company offers multiple hop VPN routes, there is still a single centralized entity you are placing your trust into. Using a distributed system allows you, as a user, to distribute trust across multiple distinct VPN providers, thereby breaking apart the flow of your information so no single entity can see the entire picture. Such a system is not possible when purchasing a VPN service from a single provider.

Staking aligns incentives against operator malfeasance, and linear stake weighting in particular neutralizes sybil attacks. A stochastic nanopayment solution scales transaction throughput, enabling a highly liquid bandwidth market without a trusted central party. Nanopayments on the scale of packets allow high frequency, trustless interactions by reducing the implicit floated balances between transactors to miniscule levels.

Core Technology
Orchid's technology is highly modular. Each component is intended to be somewhat separable, and to interact well with a particular role in the larger ecosystem. Abstractly, the system involves:

  • Users who run the Orchid App
  • Service providers who run the Orchid Server
  • A protocol that intermediates client/server interactions
  • Several smart contracts deployed to the Ethereum blockchain that support the economically sound and technically secure operation of the protocols

In pursuit of security, we have tended to remove features and design elements that we did not think would continue to function basically "as is" for many years.

Orchid Cryptocurrency (OXT)
OXT is expected to be a "pre-mined" cryptocurrency based on the ERC-20 standard that will be used to decentralize trust between buyers and sellers in the Orchid marketplace. It also functions as a tool to promote security and healthy market dynamics, as providers can adjust their OXT stake to remain competitive. At launch we intend there to be a limited supply of one billion (1,000,000,000). We do not intend ever to create any additional OXT.

Share This Page
Steven Waterhouse
Co-founder
Involved in 1 project
Brian Fox
OpenSource Software
Involved in 1 project
Jay Freeman
Network Security
Involved in 1 project
 Select Source
Source
Rating
4.1 / 5
MoNoico 404
3 / 5
Average
3.6 / 5
Ratings aggregated in date 27 November 2019
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