App harnesses the collective power of VPNs and other bandwidth providers
SAN FRANCISCO–(BUSINESS WIRE)–$OXT #Coinbase–Orchid, the incentivized peer-to-peer privacy network, announced that its marketplace for private Internet bandwidth is now available for Linux and Android. For the first time, users can control their privacy in a new way, while bandwidth providers can earn income from selling their extra network capacity.
Demand for privacy tools has experienced rapid growth over the past five years: the global market is expected to reach $106 billion by the end of 20221. VPNs are one of the most popular tools, with approximately 1 billion users worldwide2. In their current state, VPNs have been limited by the degree of actual privacy offered; providers have collected and sold user data, have been compelled to hand over users’ data, and have been shut down or blocked. By offering users access to a wide array of global providers that anyone can join, Orchid provides a new way to privately explore the Internet.
Dr. Steven Waterhouse, Orchid’s Co-Founder and CEO said: “The path to an open Internet, free of corporate surveillance and government censorship, does not run through one entity. Privacy is a community experience. Our team believes that economic incentives in a peer-to-peer environment are the key to building an Internet where users can reach their full creative potential without the fear of being watched or silenced. We’ve partnered with a group of high-quality VPN providers who share this vision so that users can experience these benefits immediately upon launch.”
Jehan Chu, co-founder of Kenetic Capital based in Hong Kong, said: “The launch of Orchid is a watershed moment in the world’s movement towards decentralized systems. Orchid’s technology enables true day one privacy of networks, and shatters monopolistic walls by empowering and incentivizing the participants of its network. We at Kenetic couldn’t be more proud to see Orchid launch.”
Existing peer-to-peer privacy solutions hide information from any single party by relaying traffic through multiple servers. These systems have had a profound impact on privacy, but rely on free, donated bandwidth. This has led to limited performance. Orchid motivates network growth and health by creating an environment where bandwidth providers earn revenue for the traffic they receive. Users are rewarded with an easy way to switch between providers, and the ability to customize advanced, multi-hop routes strung between different providers. Orchid users can opt to still use their existing VPN subscriptions, or combine them with Orchid’s global pool of bandwidth providers including Private Internet Access, VPNSecure, LiquidVPN, and BolehVPN, and Bloq, a blockchain network innovator.
Christel Dahlskjaer, Chief Communications Officer of Private Internet Access, said: “We are excited to be partnering with Orchid and believe that the decentralized approach is one that will not only help protect the most basic of human rights, privacy, but also help restore our individual agency and bring back power to people on a global scale. The high focus on attack prevention makes Orchid a great choice for those whose privacy is at greatest risk. The Internet increasingly consists of walled gardens and we are looking forward to Orchid taking root and growing into a must-have privacy tool for you and me.”
Orchid’s native digital currency (OXT) fuels transactions in the app. In the Orchid app, users purchase bandwidth with OXT, while bandwidth providers receive OXT for their services. Additionally, bandwidth providers must lock in OXT as collateral to join the network. The size of these stakes influences how much traffic they receive – traffic requests are directly proportional to the amount of collateral.
Users can download the Orchid App for Linux and Android. Orchid requires a web 3.0 enabled Ethereum wallet to fund their Orchid account. Users can fund their accounts by purchasing OXT from an exchange, transferring it to their Ethereum wallet, and then funding their account at account.orchid.com.
- Source: Market Research Future Virtual Private Network (VPN) Market Research Report- Global Forecast 2023 https://www.prnewswire.com/news-releases/virtual-private-network-vpn-market-expected-to-reach-usd-106-billion-by-2022-at-a-cagr-of-13-300445177.html
- Source: Global Web Index — VPN Usage Around the World https://blog.globalwebindex.com/chart-of-the-day/vpn-usage-2018/
Orchid takes a new approach to digital privacy with the first peer-to-peer, incentivized privacy network. On the network, anyone can buy and sell bandwidth using Orchid’s 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 in a trustless context.