The Orchid team announced on Mar 19 that they have joined the Blockchain Association. This is a major step for the blockchain powered online privacy platform, which is working on returning online freedom to users.
Orchid is excited to announce we’ve joined the @BlockchainAssn, the industry’s leading institutional alliance. We’re proud to join their ranks as we collaborate on building a more secure Internet to protect online #privacy.👇https://t.co/r6AOCXFbjW— Orchid (@OrchidProtocol) March 19, 2020
The Blockchain Association is a leading alliance of companies and projects, increasing awareness, promoting growth and adoption of blockchain technology, within the framework of US regulations, ensuring compliance and lawful operation. It also educates, advocates and coordinates with regulators / law makers to create a secure, private and competitive digital marketplace in the United States. The alliance states goal is to improve the public policy environment so that blockchain networks can thrive in the country.
Orchid co-founder and CEO Dr. Steven Waterhouse (Seven) said: “The Blockchain Association comprises many of the most visionary projects, firms, and institutions in blockchain. We are honored and excited to join their ranks as we collaborate on building a more secure Internet.”
Kristin Smith, executive director of the Blockchain Association said: “We’re lucky to work with some of the most innovative companies in the blockchain ecosystem, and we’re pleased to add Orchid’s perspective to our community in support of clear, responsive U.S. regulations. In an era of increasing digital surveillance capabilities, Orchid’s project returns online freedom to users, a service that will only become more vital in the years to come”
The Orchid protocol is a decentralized privacy network, working to create a secure and private Internet against prying eyes and surveillance. It works on the Ethereum blockchain. The Orchid software is open source, allows anonymous access to the Internet and can be audited/debugged by anyone. It is permissionless and operates without a third party. The native token is OXT, which is used to purchase the VPN service and for rewarding node providers in exchange for their bandwidth. It is also used for time-locked deposit staking by node providers, who identify themselves and then receive traffic in proportion to their stake size.