Orchid
Crypto Overview
Purpose and Utility
Orchid (OXT) is a cryptocurrency that powers a decentralized virtual private network (VPN) protocol. The OXT token is used to purchase bandwidth from VPN providers within the Orchid network, creating a decentralized marketplace for VPN services. Users can buy bandwidth from providers using OXT tokens through a unique probabilistic nanopayment system.
Business Model Analysis
The business model is straightforward and transparent: OXT tokens serve as the payment mechanism for VPN services within the Orchid ecosystem. This aligns with halal principles as it involves a clear exchange of value - users pay for actual VPN services. The protocol doesn't involve any interest-bearing mechanisms or prohibited activities.
Real-World Adoption
The Orchid VPN app is available on major platforms including iOS, Android, and desktop operating systems. While exact usage metrics are not public, the protocol has established partnerships with major VPN providers and continues to maintain active development.
Platform Development
The project maintains active development on GitHub, with regular updates to both the protocol and client applications. The team continues to implement improvements to the nanopayment system and overall user experience.
Token Distribution
The initial token distribution allocated 55% to investors and team members, with vesting periods implemented to prevent immediate selling. The remaining tokens were distributed through various public sales and ecosystem funding.
Crypto Impact
To assign a comfort level investing in Orchid from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Orchid.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.