Orchid Labs starts using xDai and goes multichain in order to reduce the costs of its decentralized VPN service as we can see today in our altcoin news.
Orchid Labs start using xDai to lower down the gas fees and will offer a low-cost open-source VPN service as well. It’s not a secret that the Ethereum gas fees are high which is why Orchid Labs is now using the xDai blockchain to reduce the costs of its open-source VPN service. Orchid Protocol is a decentralized virtual private network enables users to purchase bandwidth from a global pool of service providers and makes them virtually undetectable for most. It’s now added support for xDai and other ETH Virtual machine compatible blockchains so that the bandwidth can be purchased with XDai instead of ETH thus high fees are avoided. The CEO Steven Waterhouse:
“This has reduced the cost to use Orchid’s VPN to $1 by solving the problem of higher Ethereum gas fees.”
Waterhouse co-founded San Francisco-based company in 2017 with Jay Freeman, Gustav Simonson, and Brian Fox and launched its VPN service later in 2020. The VPN is now available on iOS, macOS, Android with more plans to launch on Windows OS later this year. Users can purchase VPN credits for $1, $5, or $20 for use in the Pay Per Use VPN service that uses the Orchid app:
“There’s no difference in service at the various price points. The average cost per GB is about 6 cents/GB so $1 gets you about 16.67GB worth of data.”
Orchid uses its own cryptocurrency dubbed OXT to exchange value on the network. The OXT token is an ERC-20 token that allows users and providers to stake as well as providing the bandwidth for use with the Orchid VPN and node providers that receive OXT in exchange for providing the bandwidth for the network. All exchanges are now listing OXT including Gemini, OKEx, Bittrex, Coinbase, Binance, and Kraken, as Waterhouse noted:
“At just $1 to start, Orchid is now accessible to people all over the world and is one of the lowest-cost open-source VPNs on the planet.”
As recently reported, The Chainlink oracles made their way to xDai as an ETH sidechain that saw growing adoption among Dapp developers that are not able to sustain themselves due to the high fees on the Ethereum mainnet.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]