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The Internet was originally an open platform where people could freely learn and communicate. The token will allow those nodes to stake themselves as part of NuCypher’s network. The Orchid protocol uses an overlay network built upon the existing internet, which is driven by a peer-to-peer tokenized bandwidth exchange, creating a more inclusive, liberated internet. Early in 2018, the blockchain-based Orchid network beta will launch to the public, enabling people across the world to freely communicate, collaborate, and access information. Orchid Labs is headquartered in San Francisco, California.
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- Medallion creation must be easy for a non-malicious node to create.
- Medallions must be easy to verify.
- Medallions must be difficult to create in bulk.
The Company establishes a peer-to-peer tokenized bandwidth exchange, using an overlaying Network built upon the Internet itself.
Big VC companies like Sequoia, Andreessen Horowitz, PolyChain Capital, and Blockchain Capital are among their impressive list of early investors. The bandwidth price will be agreed upon between buyers and sellers and settled on the Orchid market. Current internet traffic is routed through central servers, through ISP or VPN. The company has already commercialized proxy re-encryption whereby a user can encrypt their keys but then delegate access to those keys to other people in more traditional verticals. The appeal of Orchid Protocol is obvious and should be widespread, as internet privacy is one of the most discussed issues anywhere.
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The drive behind the Orchid project is take on the excessive powers of both the state and the companies that have undue tracking power.
However, the Orchid protocol team will have to be prepared for massive censorship of their software if not backed by regulators. There have been rumours circulating that there will be no crowd sale and only private investment opportunities going forwards for Orchid Protocol. Additionally, the project has captured the attention of several high-profile venture capital companies, meaning a public sale may not even be necessary. Orchid Protocol was founded by five people. for an Internet free from surveillance and censorship.
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They see the growing surveillance and censorship in oppressive countries as more reason for privacy on the internet.
The user experience with Orchard would not be altered but the tokens that the users have will be exchanged in order to make use of these nodes. Interested in becoming a member of the Orchid team? That is why they have created their platform which is essentially a token-based bandwidth exchange that is designed to protect the privacy of internet users around the world. Giving everyone the opportunity to practice free speech and access all information was one of the reasons the internet was created. Source: Orchid Labs
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Orchid is a new “surveillance-free” layer on top of the existing Internet platform which allows users to bypass firewalls, access information, and communicate freely.
TBA The Orchid Protocol is the decentralized, open-source technology Orchid has not yet released a white paper so one cannot say for certainty what the technology will contain. They point out that 75% of the global population have their internet restricted or censored in some way, while ISPs are allowed to mine and sell their data. The Company started raising seed capital since March 2017 and has so far raised $4.7 M in the form of SAFT (Simple Agreement for Future Tokens). Fold’s ICO came out of the company’s interest in finding a way to store private information (specifically, gift card data) on a public blockchain.
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To learn more about Orchid Labs, read their whitepaper, or sign up for more information, visit orchidprotocol.com.
In return, they will receive Orchid tokens paid to them by the bandwidth consumers. Traffic & payments cannot be monitored by central authorities, both contributors and consumers of bandwidth enjoy a fully uncensored & unrestricted Internet experience. Collectively, the team has extensive expertise in security, networking, blockchain, and open-source software. Cryptolingo sees huge potential in Orchid Protocol and what they are trying to achieve as an investment, but more importantly on a humanitarian level. The project will also hold a large stake in the tokens raised in order to incentivize the development team to maintain the network in the most efficient way possible.