Orchid$OXT

What is this network?

The Orchid protocol is an open-source overlay network that aims to provide private internet access. Its first offering is the Orchid VPN client, a tool that enables a decentralized virtual private network (VPN), allowing users to buy bandwidth from a global pool of service providers. Orchid uses an ERC-20 staking token called OXT, a new VPN protocol for token-incentivized bandwidth proxying, and smart-contracts with algorithmic advertising and payment functions. Orchid's users connect to bandwidth sellers using a provider directory, and they pay using probabilistic nanopayments so Ethereum transaction fees on packets are acceptably low.

How can I mine tokens?

Orchid uses a proof-of-work system for mining. The more hash power a miner can provide for validating transactions, the bigger their Orchid reward for the service is. However, it's important to note that mining Orchid requires specialized hardware, cloud mining, or pool mining. The profitability of mining Orchid can fluctuate based on the price of OXT and the number of miners. Therefore, it's recommended to research if your setup will actually generate profit before starting to mine.

Any geographical restrictions?

Orchid is designed to bypass geographical restrictions on web content, which is one of the most common use cases for VPNs. The Orchid protocol regularly switches your VPN location, making it harder to pinpoint your location. However, it's important to note that while Orchid is designed to bypass geographical restrictions, it inherits some current limitations from Ethereum in terms of payment anonymity, scalability, and censorship resistance.

How can I optimize my mining rewards?

To maximize mining rewards, a miner must choose its network connections carefully, ensuring the existence of paths to other miners that are on average of lower latency compared to paths between other miners. This involves formulating the problem of deciding whom to connect to for miners as a combinatorial bandit problem. Each node picks its neighbors strategically to minimize the latency to reach 90% of the hash power of the network relative to the 90-th percentile latency from other nodes.

How can I use the network?

Users can use the Orchid network by running the Orchid client, which is similar to a typical VPN client. The Orchid client goes past the basic functionality offered by most VPN clients, with features such as the ability to run traffic through an integrated personal firewall. The Orchid client is accessible via iOS, Android, macOS, and Linux. Users can fund an account with their own specified values as well as control the size of the associated deposit, influencing efficiency experienced within the Orchid app.

Who governs this network?

The Orchid network is governed by its users and the Orchid Labs, which was founded by Dr. Steven Waterhouse, Brian J. Fox, Jay Freeman, Stephen Bell, and Gustav Simonsson. There is no special trusted party with outsized influence or control in Orchid, assuming OXT stake is well distributed. All components of the design, from nanopayments to node directory and discovery, are decentralized.

Funding

The Orchid network is funded through the use of its native token, OXT. This token is used to prove a stake within the Orchid network that demonstrates a commitment by bandwidth providers, as well as to mitigate certain risks. A provider stakes some number of OXT to create a stake deposit. Anyone can stake OXT on nodes using the smart contract. The amount of value that is exchanged in the Orchid ecosystem, a given seller’s relative stake amount, as a percentage of the total stake, determines the probability they will be selected to provide service.