Orchid Price

Orchid (OXT) is a cryptocurrency built on the Ethereum blockchain that powers a decentralized virtual private network (VPN) protocol. Launched in December 2019, it enables users to purchase bandwidth from providers using OXT tokens, creating a privacy-focused internet browsing experience. Currently ranked #780 with a price of $0.05367, OXT has seen a +1.26% change in the last 24 hours. The token has a circulating supply of 591.54M OXT out of a total supply of 1B OXT, with a current market capitalization of $31.74M. In the past day, OXT has traded between $0.05219 and $0.05412, with a 24-hour trading volume of $273.1K. Orchid is backed by notable investors including Polychain Capital, Blockchain Capital, and Andreessen Horowitz (a16z). The project focuses on Web3 infrastructure and distributed computing, positioning itself in the growing DePIN (Decentralized Physical Infrastructure Networks) sector.

Orchid was created on December 16, 2019, when it was officially launched on the Ethereum blockchain. The token was developed by the Orchid Protocol team to power their decentralized VPN network that aims to provide users with secure, private internet access. As an ERC-20 token, OXT serves as the native currency for purchasing bandwidth on the Orchid network, allowing users to pay for VPN services in a decentralized manner. Since its launch, Orchid has become an established project in the Web3 and DePIN (Decentralized Physical Infrastructure Networks) sectors.

Orchid was founded by Dr. Steven Waterhouse (co-founder of Pantera Capital), Jay Freeman (creator of Cydia), Brian J. Fox (creator of GNU Bash shell), and Gustav Simonsson (former Ethereum core developer). The project was launched in December 2019 with backing from notable venture capital firms including Andreessen Horowitz (a16z), Polychain Capital, Blockchain Capital, and Fabric Ventures. The founding team combined expertise in cryptocurrency, software development, and network security to create a decentralized VPN service powered by the OXT token on the Ethereum blockchain.

Orchid operates as an Ethereum-based token that powers a decentralized VPN network. Users stake OXT tokens to purchase bandwidth from providers on the network. The protocol uses a unique 'probabilistic nanopayment' system where users make micropayments for VPN services without high transaction fees. Node operators earn OXT by providing bandwidth to the network. As a utility token, OXT creates a marketplace where bandwidth providers compete to offer the best service at competitive prices. The token's value is tied to network usage and adoption. Currently priced at $0.05367 with a market cap of $31.74M, OXT ranks #780 among cryptocurrencies. The total supply is capped at 1B OXT tokens, with 591.54M OXT currently in circulation. The token's governance allows stakeholders to participate in protocol decisions, ensuring the network evolves to meet user needs while maintaining security and privacy standards.

Orchid operates on the Ethereum blockchain as an ERC-20 token with a technical architecture designed for privacy-focused networking. The core components include: 1. Nanopayment system: Uses probabilistic nanopayments to efficiently process micropayments between users and bandwidth providers. 2. Layer 2 scaling: Implements off-chain transactions to reduce gas fees and increase throughput. 3. Staking mechanism: Bandwidth providers stake OXT tokens as collateral to participate in the network. 4. Ethereum smart contracts: Govern token economics, staking, and nanopayment verification. 5. Distributed VPN infrastructure: Allows users to purchase bandwidth from providers using OXT tokens. 6. Orchid Protocol: A custom networking protocol that routes encrypted traffic through multiple hops for enhanced privacy. The current circulating supply is 591.54M OXT with a total supply of 1B OXT. The architecture prioritizes decentralization, privacy, and scalability to support the network's VPN service ecosystem.

Orchid is focused on enhancing its decentralized VPN network with several key developments on its roadmap. In 2025, the team is expanding bandwidth providers and improving network stability. By 2026, Orchid plans to implement layer-2 scaling solutions to reduce transaction costs and increase throughput. The 2027 roadmap includes enhanced privacy features and cross-chain interoperability. Looking further ahead, Orchid aims to become a cornerstone of Web3 privacy infrastructure by 2030, with plans to integrate with other DePIN (Decentralized Physical Infrastructure) networks. The project has backing from notable venture firms including a16z, Polychain Capital, and Blockchain Capital, providing strong financial support for long-term development. With its current price at $0.05367 and market cap of $31.74M, Orchid has significant growth potential as privacy concerns continue to drive demand for decentralized VPN solutions in the expanding Web3 ecosystem.