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.
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