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Crypto-Enabled VPN Provider Orchid Launches on Apple’s App Store
Orchid announced Thursday its newly launched app would allow users to buy VPN bandwidth using in-app purchases powered by cryptocurrency.
Updated Sep 14, 2021, 9:28 a.m. Published Jul 9, 2020, 3:27 p.m. 1 min read
Decentralized virtual private network (VPN) provider Orchid announced the launch of its VPN application on the Apple app store on Thursday.
- In an emailed press release, Orchid said users of its app would be able to make in-app purchases to get VPN bandwidth. The in-app purchases would essentially work like gift cards for the OXT token, Orchid’s cryptocurrency used for transactions on its network.
- Launched in December 2019, Orchid uses the Ethereum blockchain to enable users to buy and sell VPN bandwidth using its OXT token.
- In its statement, Orchid said using in-app purchases was also a way to do away with the complicated steps associated with crypto transactions, which can often frustrate users.
- “Orchid works by aggregating bandwidth from VPNs and other providers around the world,” said Steven Waterhouse, CEO of Orchid, explaining how using multiple VPN providers allows for an additional layer of privacy for users.
- According to the app’s listing on the Apple store, it is currently available for use on iPhones, iPads and the iPod.
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CNBC reported Tuesday that Musk is discussing a merger between Tesla and SpaceX that would tie his tech empire closer together and instantly create the world’s fifth-largest corporate bitcoin treasury, worth $3.3 billion.
What to know:
- Elon Musk is exploring a potential merger of Tesla and SpaceX, a move that would deepen operational overlap in areas such as power infrastructure and AI-related computing.
- A combined Tesla-SpaceX entity would control about 30,221 bitcoin, worth roughly $3.3 billion, making it the fifth-largest public corporate holder of the cryptocurrency.
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