Ever heard of The Orchid Protocol?

It is a decentralised, open-source technology
for an Internet free from surveillance and censorship

The information contained in this report is neither legal nor financial advice and presented for informational purposes only. Before considering any investment, make sure you read the report below carefully and take time to do your own due diligence.

Existing approaches to unrestricted, unsurveilled Internet access such as I2P and Tor suffer from a lack of widespread adoption. This is where Orchid steps in. Orchid Protocol enables decentralized network formation and probabilistic micro-payments. What they propose is a market based, fully decentralized, and anonymous peer-to-peer system formed on a “bandwidth mining” which they believe addresses the lack of relay and exit nodes in the currently existing structure of many VPN traffic transmission chains by directly incentivizing participants. To note, the system is still under development and various internal algorithms will probably change. Though, the essence of this concept, its purpose and main goals will remain the same.

About

The Orchid Protocol organizes bandwidth sellers into a structured peer-to-peer (P2P) network termed the Orchid Market. According to the scheme, all customers will be able to connect to the Orchid Market and pay bandwidth sellers in order to form a proxy chain to a specific resource on the Internet. Nowadays, the users who access the Internet without protection provide their complete browsing history and website use to their ISP, who can then share or sell that data. What makes Orchid Market different from the common methods for sending and receiving data from the Internet, which as we all know are tracking our personal data, is that it naturally separates information about the source of data from information about its destination; no single relay or proxy holds both pieces of information, or knows the identity of someone who does. The structure of the Orchid Market further supports this separation of information by providing strong resistance against collusion attacks — the ability of a group of bandwidth sellers to overcome this separation of knowledge. It is crucial to note that Orchid Market provides a “fixed rate relaying” to prevent traffic analysis and an incentive for participation not related to the hiding or discovery of information: a payment in tokens.

This is how the mechanism looks like:

Platform use-cases

In the Orchid market, peddlers serve as buyers and sellers of bandwidth that also may be relays or proxies. The users are not required to be peddlers within the Orchid market but all relays and proxies will be required to be peddlers. An entry to and continued participation in the Orchid market is gained by presenting a proof-of-work which they call a “Medallion”.

Medallions are closely tied to the Ethereum block digest, a holder’s public key. Within the Orchid market, Medallions are used in two ways:

In order to prevent attackers from running more Peddlers than is proportional to their share of the Orchid market’s total computational power, every Peddler checks the validity of all its connections’ Medallions every “Medallion cycle”. In the event that a valid Medallion is not supplied, it is disconnected from the network. By tying the market address of a Peddler to the Medallion, performing an attack becomes much more difficult.

Market

The Orchid Protocol has a great potential of becoming a new VPN provider that encrypts and securely transports traffic across a larger insecure networks

Competition

Technology

This is how the technology is going to work:

The Orchid Network will support at least these services:

Economics and Token

Incentivisation is a way to bootstrap new protocols and networks by giving people partial ownership of the network. The more proxy and relay nodes, the more useful the network provides for users. And the more users, the more valuable it becomes to run a proxy or relay node.

ICO

Company

Team

Serves as the Managing Director and Managing Partner at Trilogy VC. Mr. Bell served as Vice President of Trilogy VC from 2002 to 2006. He expanded and managed the Trilogy University Program to include India and China. Mr. Bell founded ShangBy in 2002. Prior to that, he founded Supply Solution Inc. in 1998. Mr. Bell served was the Chief Executive and Founder of CORE Products GmbH since its launch in 1995…

Serves as Vice President of Technology Development at Izalex, Inc. Mr. Fox served as the Chief Technology Officer of Warp 9, Inc. From 1988 to 1990, he served at the University of California at Santa Barbara as a research software engineer. From 1998 to 2000, Mr. Fox co-founded and served as Chief Technology Officer of Supply Solution, Inc. In 1995, prior to co-founding Supply Solution, Inc., he founded Universal Access, Inc., where he developed the programming language Meta-HTML. He is the author of BASH, the UNIX shell, which is widely utilized in modern versions of UNIX…

Developer of the Cydia software used on millions of jailbroken iPhones. CTO at Let’sCram.com for over 2 years. Technology Partner at the Okori Group for 4 years. Software consultant at Vetronix Corporation for 2 years. Software consultant at Roaming Messenger for a year. CTO at Gnostic Labs for 3 years…

Summary

Useful Links

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