One of the most influential names in the cryptocurrency world are to work on the creation of a truly private Internet.
Andreessen Horowitz, Blockchain Capital, Compound VC, Crunchfund, Danhua, Draper Fisher Jurvetson, MetaStable, Polychain Capital, Sequoia and Struck Capital announce a $4.7 million investment in a new startup called Orchid Labs Inc. Among the co-founders of the project are Steve Waterhouse, Gustav Simonsson, Stephen Bell and Brian Fox.
This is about anti-surveillance and anti-censorship, the ability to not be tracked. We see this not just in China or the Middle East, but in this country, in states that are considered to be free. If you go back in history, there was a lot more concern about privacy on the internet before Facebook.
The man sees Orchid's token working within these margins, going so far as to suggest large internet applications such as Facebook could eventually become users of the tech to anonymize their own traffic.
As for the ICO, the Orchid token (CHI) will be issued on the Ethereum blockchain. However, as coindesk.com details, unlike other decentralized internet attempts, Waterhouse believes Orchid would offer software for the exit and routing nodes that form the network itself, marking a differentiator, in that the underlying infrastructure wouldn't be altered. In practice, users would use the Internet as they do today, but exchanging tokens with these nodes as a means of protecting their information from internet service providers (ISPs) and carriers, or providing it to an intermediary like a virtual private network (VPN).
You're paying to access the relay nodes and encrypt and anonymize the traffic, and all the way along the chain, the nodes are being paid.
According to the Orchid co-founder, it would utilize techniques to make Orchid protocol traffic indistinguishable from typical Internet traffic.
As reported, a beta launch is not expected until early 2018.