Whenever we browse the web , read news online, or purchase a replacement pair of glasses from an e-commerce store, we leave traces. These traces sometimes show us content that basically provides us with value, but more often the knowledge we leave is used in concerning ways with scandals like Cambridge Analytica just forming the tip of the iceberg.
Fortunately, tools like VPNs allow everyone to easily gain more privacy and increase the security of their network connection. A VPN (a virtual private network) sends your data through an encrypted tunnel Cryptocurrency Press Release Distribution that cannot be accessed from outside. Initially especially employed by companies to connect employers securely to the company network, nowadays VPNs are readily available to anyone. However, many VPNs are centralized services that themselves log and sell users' data even while claiming to not , which are vulnerable to being blocked and close up , all while locking users into high-priced, long-term subscriptions and hoping they ditch the recurring payments.
One company that's working on offering a VPN solution tackling these problems is Orchid. Orchid offers a decentralized VPN service built on the Ethereum network and powered by the Orchid network.
The network consists of users on one hand who want to access the VPN services and bandwidth providers that are running network nodes and providing the bandwidth Blockchain Press Release Distribution, on the other hand. To bring those two together and align their interests, Orchid has issued the orchid token (OXT). The token allows users to shop for services on the go, and bandwidth providers stake Orchid tokens as a present for acting as a network node. All nodes run a software VPN daemon that speaks the Orchid protocol and is registered during a node registry.
This registry is stored in an Ethereum smart contract, accessible to anyone, and allows the app to hunt out servers and different geolocations within the decentralized network of providers. Unlike other VPN services where you've to pay on a subscription basis, Orchid allows you to pay only Bitcoin Press Release Distribution Services the bandwidth you actually use once you employ it. this is often often made possible by a technology called nano payments. because the name suggests, these are tiny fractional payments and as you'll imagine, wouldn't be feasible on Ethereum's layer
1. Therefore the team behind Orchid developed their own technology loosely supported a technology that was already developed within the 90s: probabilistic nano payments. Probabilistic nano payments aim to reduce the transaction costs on small payments by amortizing these costs across users and transactions. In Orchid, instead of sending $1 on to a node a ticket with a tenth chance of winning, $100 is shipped . Once the ticket ICO Press Release Distribution service has been verified by the node, it holds cryptographic proof of being paid. the prospect of winning is entirely random and should be influenced by neither the user nor the node. only a ticket is winning is that the transaction recorded on the overall public Ethereum blockchain.
By operating this way , Orchid remains highly scalable, fast, and user-friendly. You won't got to await your payments to travel through. When using the Orchid App, the default setting could also be a single-hop circuit configuration, which protects you from websites seeing your IP and your ISP from seeing which websites you access, and you will enjoy the online with none ISP firewall restrictions.
For an honest higher level of privacy, you'll choose the advanced feature of a multi-hop configuration, that ensures that no-one bandwidth provider could put together a full picture of your activity, adding a further layer of protection from having your data or identity known.
All in all, Orchid is an easy-to-use privacy-enhancing VPN that mixes the benefits of a decentralized network with a cryptocurrency and a p2p marketplace of bandwidth providers to empower anyone to more securely and openly access the web .
The Orchid token (OXT) are getting to be listed on the Bitcoin.com Exchange on Wednesday, August 5th, at 10:00 am UTC with OXT/BTC and OXT/USDT trading pairs.
About Orchid
Orchid takes a replacement approach to digital privacy with the first peer-to-peer, incentivized privacy network. On the network, anyone can buy and sell bandwidth using the Orchid digital currency (OXT). Users can browse privately and access content without being limited by their geography. With its decentralized design, multi-hop architecture, and Open Source ethos, Orchid offers users unprecedented digital privacy during a trustless context.
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