Orchid Tops $43 Million Raised in Token Sale for Crypto Tor Alternative
Summary
The project behind a blockchain protocol designed to enable private internet browsing has raised another $7 million in funding, CoinDesk has learned. “Orchid Labs’ mission is to build open-source software that keeps the Internet open and accessible — a natural resource for everyone, everywhere,” Steven Waterhouse, a co-founder of the company, wrote in a blog post announcing the funding. 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 idea behind Orchid is that it can build a bigger network by offering people micropayments for sharing bandwidth. Users interested in updates about the progress of the protocol are encouraged to sign up for announcements about its beta release, on the Orchid website.