Buy Orchid Protocol (OXT)
What is Orchid Protocol?
Orchid Protocol (OXT) is a cryptocurrency that aims to create a decentralized virtual private network (VPN) and incentivized peer-to-peer privacy network. It facilitates secure, private, and censorship-resistant online communication by allowing users to purchase bandwidth from a global pool of service providers.
How does Orchid Protocol work?
Orchid Protocol works by enabling users to buy bandwidth from providers using OXT tokens. Providers stake these tokens to register their nodes in a decentralized directory on the Ethereum blockchain. Users are connected to providers based on the amount of OXT staked, utilizing a nanopayment system for transactions. This system sends probabilistic tickets representing tiny amounts continuously as users browse, reconciled approximately once a week on the blockchain.
What are the potential use cases for Orchid Protocol?
Orchid Protocol can be used for decentralized VPN services, providing privacy and security solutions by giving users full control over their network connections. It is suitable for decentralized marketplaces due to its nanopayment capabilities and holds potential in privacy-focused VPN services, cybersecurity, and internet freedom initiatives. The protocol's multi-chain strategy enhances interoperability, making it relevant for blockchain interoperability and cross-chain transactions.
What is the history of Orchid Protocol?
Orchid Protocol was founded by a team including Dr. Steven Waterhouse, Brian Fox, Jay Freeman, and Gustav Simonsson, with development beginning in 2017. The project aimed to create a decentralized bandwidth marketplace to offer secure internet access. A security audit was conducted by ConsenSys Diligence in 2019. The project's code is open-source, available on GitHub, and uses established transport protocols like WebRTC. Orchid has developed a decentralized VPN with probabilistic nanopayments, evolving its technology and growing its market presence as a privacy-centric internet access solution.
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Frequently Asked Questions (FAQs)
What is the current price of Orchid Protocol (OXT)?
The Orchid Protocol price is $0.13977412 AUD, representing a -18.37% from the day prior.
Where is the best place to buy Orchid Protocol (OXT) in Australia?
The best place to buy Orchid Protocol (OXT) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Orchid Protocol (OXT) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Orchid Protocol (OXT)?
The trading volume of Orchid Protocol (OXT) is $28.8M AUD in the last 24hrs, representing a -18.37% from the day prior.
How can I buy Orchid Protocol (OXT)?
Orchid Protocol (OXT) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Orchid Protocol (OXT)?
The current market cap of Orchid Protocol (OXT) is $85.6M AUD.
Can I convert Orchid Protocol (OXT) to cash?
Yes - With Coinstash you can convert your Orchid Protocol (OXT) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Orchid Protocol (OXT) are there?
The current circulating supply of Orchid Protocol (OXT) is 591.5M.
Is Coinstash a safe place to buy Orchid Protocol (OXT) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Orchid Protocol (OXT) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.