Executive Summary
Project Description
Orchid Protocol establishes a market based on “bandwidth mining” to create incentives for people to run relay and exit nodes allowing for anonymous browsing. Current options like Tor I2P are not widespread as an incentivization mechanism is missing and therefore not enough of such nodes are hosted to create a safe place to browse anonymously. Orchid Protocol will allow everyone to communicate freely and not be subject to restrictions or censorships anymore.
They put huge emphasis on security. Every peer on the network needs to create a “medaillon” to demonstrate their realness. Creating such a medaillon will be done via Proof of Work. They will be easily creatable and verifiable but hard to create in bulks.
Furthermore, every peer has to check its neighbours behaviour. Afterwards these peers are organized into a p2p network. This market is the so-called Orchid market. By using their own token, OCT, one can buy or sell bandwidth there. The price will be displayed as a per package price and sellers have various options of personalizing their offer. The traffic using the Orchid Protocol will look like traffic coming from the “normal” internet so even the great firewall of china will not notice any difference.
Together with leveraging blockchain technology and additional security features they created a “fully decentralized, fully autonomous, fully anonymous” system that can handle payments which can bypass the currently known barriers and tackle ongoing problems.
Hard Cap and Valuation
There will be 11.019.960.576 OCT in total. The sale will be a private sale for accredited investors only and therefore most of the details aren’t public knowledge. If you’re interested and an accredited investor you should contact the team directly.
Important Dates
The private sale has already started by the looks of it. It’s unclear until when the private sale will be going on though.
Marketing Power
Orchid Protocol’s Facebook account has over 600 subscribers, they have over 5200 followers on Twitter, more than 50 Medium followers and around 110 Reddit readers at the time of this publication.
Howey’s Test
According to Howey’s Test conducted by our analysts, it is unlikely that OCT will be considered a security.
Team Members’ Areas of Expertise
Business experts
Stephen Bell
- Managing director at Trilogy for 9 years.
- Founder, and CEO of ShangBy for 2 years.
- Founder of Weixing Holding Co.
- Founder, and CEO of “SupplySolution” for almost 3 years.
Brian J Fox
- Co-Founder, and CTO of Vworldc for 4 years.
- Founder/Technologist at Retail Inkjet Solutions for 4 years.
Steve Waterhouse
- Partner at Pantera Capital for almost 3 years.
- Partner at Koru Ventures for half a year.
- Managing Director at Pebble Partners for over 2 years.
- Various board member and advisor positions e.g. at the Web3 Foundation.
Target market experts
Orchid Protocol is a technical project, so the development experience the team members have will be important in the years to come.
Marketing experts
No team members with notable marketing experience.
Legal experts
No team member with legal expertise.
Software engineering experts
Brian J Fox
- Experience garnered from his time as the CTO of Vworldc.
- SVP Device development at 4dk for 4 years.
- Technology Partner at The Okori Group for 4 years.
- Founder/Technologist at Retail Inkjet Solutions for 4 years.
- CTO at netCelerant for a year.
- CTO at Roaming Messenger for almost 4 years.
- CTO at SupplySolution for over 3 years.
Jay Freeman
- 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.
Steve Waterhouse
- CTO at http://www.rpxcorp.com/ for 4 years.
Blockchain development experts
Gustav Simonsson
- Core developer at Ethereum with focus on blockchain security and the Golang client during the beginning of Ethereum.
- GitHub account.
Token sale structure
No visible prior ICO launch experience.
Token economics
No apparent token economics design experience though one has to take Steve’s experience from his advisor positions into consideration. In the blockchain space this mainly is: Board member of Bitstamp and of ChangeTip, as well as Senior Advisor of the Web3 Foundation. These positions point towards a good overview of the whole cryptocurrency space and a good understanding of the economics in such.
Disclaimers:
- Nothing written in this article is a legal or an investment advice.
- Information is provided on a best-effort basis and is subject to change without prior notice. Be sure to verify everything you read with a project team.
The analysis was produced by Research Center team members: Robin Davids, Mark Jedd, Eugene Tartakovsky.
We are constantly working on improving our work, so we welcome all constructive feedback. Let us know what you think.
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