The Internet was originally an open platform where people could freely learn and communicate.
Instead of grand ideas of decentralizing the internet, the Orchid protocol could be thought of as an additional layer on top of the existing infrastructure. An Internet with Encrypted, Decentralized Architecture, Incentivized on the Blockchain Orchid is building a new, surveillance-free layer on top of the internet. 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. They are planning to issue tokens as part of the project on the Ethereum blockchain. Research has shown that a vast majority of citizens support Net Neutrality and if something like Orchid Protocol is adopted it can help to ensure its survival.
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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.
Traffic & payments cannot be monitored by central authorities, both contributors and consumers of bandwidth enjoy a fully uncensored & unrestricted Internet experience.
Orchid Labs is headquartered in San Francisco, California. To understand the Project’s approach to internet browsing, one should first be familiar with the way internet works. Yet, with the Orchid technology the only way that a country could block the system would be to shut down the internet. Founding Team and Leadership The Orchid founders, an established group of technologists, entrepreneurs, and blockchain experts, have been working in stealth since early 2017 to bring the technology to life. This is the story behind the Orchid Protocol, an ambitious project with a great promise: it’s time to end Internet censorship.
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Users that want to access an uncensored & unrestricted Internet (bandwidth consumers) access pay the bandwidth contributors in Orchid tokens through a peer-to-peer (P2P) exchange.
The appeal of Orchid Protocol is obvious and should be widespread, as internet privacy is one of the most discussed issues anywhere. To learn more about Orchid Labs, read their whitepaper, or sign up for more information, visit orchidprotocol.com. The Orchid Tokens (OCT) verify source nodes in which relay/exit nodes verify the token commitment (ETH smart contract) before/after accepting the connections & payments. 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. The bandwidth price will be agreed upon between buyers and sellers and settled on the Orchid market.
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It also puts forth an incentive program for people to run relay and exit nodes allowing for anonymous browsing, hence ending censorship and access restriction.
Orchid labs has received a total of at least $4.7m in venture funding for the development of a truly private internet. 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). Advisors and Investors To help provide counsel, Orchid Labs has enlisted a team of advisors with experience in cryptography and mission-driven projects. Orchid Protocol was founded by five people. OCT is a Utility token, that will be used for payments within the Orchid Network.
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The Orchid protocol is their contribution to this movement for internet freedom—meaning internet that can’t be controlled by corporations or governments and is open and accessible to all.
Source: Orchid Labs However, the Orchid protocol team will have to be prepared for massive censorship of their software if not backed by regulators. The Orchid token is expected to be launched in early 2018, according to the company’s website. Whitelists allow bandwidth sellers to specify on their exit nodes which kind of online content they are willing to run traffic to. The Orchid protocol is an open-source network intended to end internet surveillance and censorship, while protecting users’ personal data from being harvested by ISPs or other entities.
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The Company establishes a peer-to-peer tokenized bandwidth exchange, using an overlaying Network built upon the Internet itself.
The Orchid Protocol is a soon-to-be-launched ICO (Initial Coin Offering) by startup Orchid Labs Inc. Unfortunately, as the Internet grew it became a place where people could be monitored, controlled, and censored. 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. In a nutshell: A peer-to-peer tokenized bandwidth exchange for a censorship-free Internet. Those that seem the anonymized internet access can pay for using tokens. Current internet traffic is routed through central servers, through ISP or VPN.