Orchid Labs, the company behind the blockchain protocol designed to enable private Internet browsing has raised another $7 million in funding, taking its fundraising to $43 million “on an offered $125 million in a pre-sale of a token that will power its still-in-development technology,” Coindesk reports.
Orchid Labs offers “a suite of open source tools and cryptographic protocols developed and run by people who want the internet to extend our natural human freedom, not curtail it. Our initial focus is an open marketplace for bandwidth built on Ethereum, and a VPN client for all major operating systems.”
Orchid is designed to give internet users an incentive to share their bandwidth with other users. By doing so, the protocol can break up traffic and route it through various nodes on the network, making it extremely difficult for an adversary to determine who is visiting the website, much as the TOR system works now.
The Orchid concept is based on the idea that it can “build a bigger network by offering people micropayments for sharing bandwidth.” As part of its plan to achieve that, it is launching the first consumer-facing Orchid product, the Orchid App, which is coming soon. It will work as a mobile VPN on iOS and Android that will mask users’ internet traffic by routing it over the Orchid network.
Steven Waterhouse, an Orchid co-founder, wrote in a recent blog post: “The goal with the software is to provide secure access to the open Internet, right in line with our mission. We also hope to play a part in driving the VPN market towards more transparency, privacy and fairer pricing. He also revealed, “we have an Etheruem smart contract implementation of Probabilistic Micropayments and we are currently integrating these into our client and nodes for Beta.”
And for more information about its ‘Probabilistic Micropayments’ to app users, read Orchid’s whitepaper, which explains the project’s vision and the technology.