What is Orchid (OXT)? How to Buy OXT Token in India?

What is Orchid (OXT)?

When you surf the web through ISPs, every move you make is under the spotlight of public servers. Unfortunately, these servers lack a security shield and potentially threaten your personal information, financial details and other sensitive data, giving hackers, the government, and other shady characters their way to your privacy. While VPNs did solve this problem, empowering users to keep their online life under wraps, blocking hackers, governments, and advertisers, they also have some issues- like performance and security. 

Orchid is making a decentralized peer-to-peer virtual privacy network (VPN), allowing users to access high-speed bandwidth worldwide through a global marketplace of service providers with blockchain security. It runs on top of the Ethereum blockchain and uses a framework consisting of a multi-hop VPN client, routing network, native asset OXT token, and probabilistic nano payment system for scalability. OXT is an ERC-20 based native token used for payments, staking, and incentivizing users within the Orchid ecosystem.

Who are the Founders of Orchid?

The Orchid project was started back in 2017 by co-founders Dr Steven Waterhouse, Jay Freeman, Gustav Simonsson, and Brian J. Fox. Its main goal is to craft a robust community and network that unlocks a future of enhanced freedom and privacy for all users.

How does Orchid (OXT) work?

Here is a brief working of Orchid protocol:

• Marketplace: It operates as a two-sided marketplace where users (buyers) purchase proxy bandwidth from service providers (sellers), and payments are made at a per-packet level, which means users pay for the data they transmit and receive. 
• Nanopayments: It also uses probabilistic nano payments to overcome slow and expensive transactions of the Ethereum network, enabling Orchid to handle a high throughput of payments while keeping costs low.
• Node and Services: Orchid does not compete with existing VPN providers; instead, it has partnered with existing providers to offer users improved bandwidth. Nodes are service providers participating in the network to offer their bandwidth and operate using similar software to a typical VPN daemon but with Orchid protocol as the base.
• Privacy: It uses single-hop circuits to shield users’ IP and online activity from websites and ISPs, and multi-hop circuits chaining multiple Orchid nodes, preventing any single node from having enough data to identify users or their activities.

What makes OXT Unique Use Cases?

• The service providers need to stake a certain amount of OXT tokens to become partners and advertise their services on Orchid.
• Orchid’s nanopayment system enables high throughput and cost-effective transactions with multichain and EVM support.
• It also offers Prepaid Access Credits, allowing users to purchase services through fiat with a quick 30-second onramp from linked credit cards.

Orchid (OXT) Price Analysis

Source: TradingView

• OXT price today is trading at $0.07958, with a 24-hour trading volume of $71.9 million. In the last 24 hours, The OXT price has rallied by 15.19%, and its market cap is $76.37 million as of August 10, 2023.
• After a downtrend and lingering within a consolidated range for months, OXT price has rebounded impressively, surging more than 70% over the past week.
• The RSI level above 70 suggests a potential overbought situation and a possible correction in the near term. Yet, if the price of OXT surpasses $0.0933, it could trigger a potential upward rally.

How to Buy OXT Tokens in India?

To buy OXT Token in India, just follow the below mentioned steps:

• Download the Crypto Investment App
• Enter the details for registration.
• Complete KYC
• Once your profile is verified, add funds and buy OXT Tokens.