Orchid: anonymous blockchain Internet browser

Private Internet project Orchid by Andreessen Horowitz, Blockchain Capital, Draper Fisher Jurvetson and many more
28 October 2017   5294

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.

Steve Waterhouse
Pantera Capital

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.

Steve Waterhouse
Pantera Capital

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.

Old Korean Social Network to Close After Tokensale

Cyworld platform started operating back in 1999 and it conducted an IEO at CoinZest this year
14 October 2019   49

Investors who acquired the clink cryptocurrency issued by the South Korean social network Cyworld are worried about the status of their investments due to the company's sudden closure, reports Korea Times. Some of them are ready to go to court.

The Cyworld platform was launched in 1999 and was especially popular among the country's population until the mid-2000s. The company, however, failed to see the trend towards the development of mobile solutions on time and as a result lost its position in the market. On October 1, it closed her platform without posting any warnings to users.

At the same time, the Clink site was unavailable, and Cyworld management continues to ignore the numerous requests of investors. The Korean exchanges CoinZest and BitSonic, where Clink is still being traded, are considering delisting the asset. Industry officials say Clink's investor losses will be at least 1 billion won ($ 845,000).

Clink's primary distribution was through IEO through the CoinZest platform earlier this year and, according to the Korea Times, it was the company's attempt to bring a fading social network back to life. A total of 24 million Clink tokens were sold for a total of 480 million won ($ 400,000).

In the second half of 2019, employees who have not received salaries since the end of 2018 began to leave the company en masse. Since the start of trading, the Clink price has fallen from 26 won to 0.19 won. According to the Coingecko portal, Clink's current capitalization and revolving volume are unknown, while the marginal issue volume is 10 billion units.