Orchid Labs let its audience in on their recent in a May 8, 2019 blog post. This included a successful $43 million funding round, its probabilistic micropayments feature, the Orchid app and more, that will contribute to their motto of a natural Internet, May 08, 2019.
The Need for Open and Accessible Internet
The Internet acts as a perfect place to share open source creations with the world. One such example of the results of open source collaborations is the built on top of Google’s Chromium Project.
On the same note, Orchid Labs focuses on building open source software that makes the Internet more of a natural resource — free and accessible to everyone, everywhere.
The being imposed over the usage of the Internet due to newly formed rules across different countries break down the integrity of a single source connecting with the world. To help users of such restrictions, Orchid Labs announced the Orchid App. The application is an open source VPN client that uses multi-hop routing to make Internet surfing more secure.
The creators of the Orchid App also plan to curb whatever transparency and privacy issues lurk in the market. They pointed out that the Orchid App will be reasonably priced as compared to other VPN applications.
The team is working to integrate Probabilistic Micropayments to its nodes and clients which they say will sending “an arbitrary number of payments to an arbitrary number of recipients, without any per-recipient initialization or settlement transactions.”
To help round out their ambitions, Orchid Labs reported that the company that has scaled to $48 million after their private funding round raised $43 million through accredited investors.
Citing the usage of the raised funds the company very precisely stated in its blog:
“Orchid Labs has raised $48 million to keep the Internet open and accessible.”
Published at Wed, 08 May 2019 20:00:06 +0000
