Founded by Polychain Capital, Orchid looks to build what could potentially become the most reliable and resilient tool on the internet, allowing people to access content without any restrictions whatsoever.
Its product – the Orchid Protocol – is basically an open-source technology that allows users to access the internet free from censorship and surveillance. It’s fully decentralized, meaning that it can’t be controlled or shut down by a single entity or a government.
The Mission Of Orchid Protocol
Orchid is driven by one simple mission. It believes that the Internet is an open platform, invented for everyone to access information and communicate freely, without any surveillance or restrictions. Unfortunately, this has not been the case. The internet hasn’t guaranteed freedom and openness, triggering ideas to change that.
Orchid Protocol Is Fully Decentralized
Orchid protocol works in a rather interesting way. Combining its protocol with state-of-the-art-encryption, as well as a fully decentralized infrastructure, Orchid is able to give its users access to the internet without any surveillance whatsoever. Considering surplus bandwidth is ubiquitous, users are able to exchange bandwidth in a peer-to-peer- transaction by simply using Orchid tokens powered by Ethereum blockchain.
Just like most tokens on Ethereum Blockchain, Orchid Protocol token is ERC20-compatible, but comes with additional features in order to support low transaction fees.
Difference Between The Orchid Protocol And VPNs
Reading about what Orchid Protocol looks to achieve, one might wonder – what does it do differently from what the VPNs do? Well, according to Orchid, its proxies and relays don’t know who the identity of their customers is. Unlike the VPNs which just hide your IP address and give you a new one, Orchid doesn’t even know what IP address you are using, guaranteeing you complete anonymity.
Why Orchid Protocol Could Become A Big Deal?
Orchid has already raised about 4.7 million dollars in seed funding through SAFT, an investor group including Struck Capital, Richard Murihead, Crunchfund, Blockchain Capital, Metastable and Polychain Capital (the funder).
Currently Orchid Protocol in available only in private alpha, but it has plans to make its tokens and network publicly available sometime in 2018 via a public sale.
If the system designs are implemented and an audit is done to determine its effectiveness, users could feel much confident in it, attracting more and more people and organizations to use it.
Orchid Protocol Conclusion
As of now, it’s not certain how well the system does when it comes to security, but the team is conducting checks before the Q1 release. Orchid promises to continue working on the core technology to have a complete solution which it can go ahead and prove is anonymous and not censorable.