Cybersecurity has gone mainstream. Companies like Norton and NordVPN are advertising on prime time networks advocating their privacy features and protecting users’ data. Crypto enthusiasts should be familiar with internet security at this point. Orchid VPN has taken a different direction to provide protection powered by the blockchain.
What Is It?
Instead of operating its own VPN networks, Orchid allows users to purchase bandwidth from popular VPN services using its utility token, OXT. This enables the Orchid app to hop from network to network to better hide users’ traffic.
Orchid’s iOS app recently dropped on Apple’s App Store. The app is free and allows in-app purchases to purchase VPN bandwidth, which runs in the background. The OXT token is an ERC-20 token currently available on Coinbase, Gemini, Kraken, and OKEX, among others.
Dr. Steven Waterhouse, CEO of Orchid, spoke positively about the app’s iOS approval. “The App Store availability combined with the ability to make in-app purchases of credits that work with crypto networks represent the latest breakthrough developments to Orchid.”
Until this point, products with user-friendly utility tokens have been few and far between. The most successful have been cryptocurrency exchanges like Binance, whose BNB token is used for most trading functions on the website. Orchid is aiming to change this, starting with the security-minded.
In terms of functionality, Orchid has an additional advantage. VPN’s typically require purchasing a month to a year of service at a time. The a la carte model of Orchid allows users to selectively use their credits only when they require the VPN to be active.
VPN’s allow users to protect their personal data when browsing on public networks like libraries and coffee houses. They also allow the user’s device (computer, laptop, mobile phone), to appear to be in a different geographical location. This is useful for those who wish to access online media that is restricted to certain countries.
On the backend, using an ERC-20 allows in-app purchases to be executed nearly instantaneously.
Orchid is not resting on its laurels. In mid-June, the company announced it was working on two Chainlink-powered tools that will be used to estimate the cost of VPN bandwidth. This represents a mainstream commercial use of Chainlink’s Oracle capability.
As the Orchid team explains: “Chainlink oracles allow blockchains to access information outside their networks in a … secure manner, providing more meaningful data to on-chain applications while retaining their end-to-end security.”
Hopefully, this collaboration is mirrored in other blockchain projects. In a COVID-19 world, internet technologies are receiving increased interest as people continue to work from home.