Orchid finishes Q3 with strong momentum and a growing global presenceOct 13, 2020
The past few months have seen major disruption in nearly every sector of the global economy -- and privacy has been particularly prominent. At times it can seem like every policy and business question, from contact tracing to TikTok, touches on privacy. VPNs have come to prominence as people, many working from home for the first time, have sought better security when using the Internet. Orchid is no exception to this trend: during the third quarter, we saw continued growth both in terms of new features and an expanding global presence.
Orchid's digital asset, OXT, which is used to power the network, is now listed on Binance, the world's largest cryptocurrency exchange. We believe that Binance's decision to list OXT reflects rapidly growing interest in privacy and makes our privacy solution available to the millions of people in over 180 countries who use Binance. The listing comes on the heels of OXT being made available on Uphold, BKEX, and Bitcoin.com.
Over the past quarter, we have increased and strengthened Orchid's partnerships with other leaders in the privacy community. We are beginning to realize the benefits of the collaboration with Chainlink that we announced in June; this month we shared that our pricing oracles built together with Chainlink are now online, helping Orchid users better understand bandwidth pricing as it fluctuates with the market. We are looking forward to continuing this partnership on both the technology and the community side. Orchid is working together with Chainlink to help with education focused on Internet privacy, recently speaking about the topic at Chainlink's Smart Contract Summit.
This summer we added support for WireGuard®️, a fast-growing VPN protocol, for all our app users across iOS, macOS, and Android. They can now configure multiple hops through WireGuard, OpenVPN and/or the Orchid network for a faster and more secure experience to keep their data private online.
A seamless user experience has always been key to Orchid's vision. That's why the launch of our iOS app in July, featuring in-app purchases, was such an important milestone. In-app purchases let users buy "pre-filled" Orchid accounts using nothing more than a credit card, making the network as simple to use as any other mobile app. Pre-filled accounts function like gift cards, drawing down OXT as bandwidth is consumed. With this feature, using Orchid is a simple two-step process, with no need to install a wallet or pay for gas on the Ethereum network. And users still enjoy the full privacy benefits of Orchid's decentralized VPN service.
The Orchid network continues to evolve and recent enhancements were added to improve speed and scalability. These infrastructure changes include improved gas cost efficiency and with recent updates to the client and server software, users are seeing faster VPN speeds across the board.
Orchid's goal is to help restore the Internet as the place of exploration and curiosity it was intended to be. To achieve this, we are working hard with the open source community to deliver a strong privacy solution in an app that is easy and friendly to use, and that is available to people wherever they are in the world. This quarter, we notched some important successes both in terms of seeing new exchanges support the Orchid Network, and making Orchid easier than ever to use through features like in-app purchases. As we move into the last quarter of 2020, our team is working hard to build on this progress.
Thank you to all the members of the Orchid community for your continued support.
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