What is the Octopus Network (OCT) venture?
Octopus is the sidechain, it is parallel to the primary blockchain of Close to the protocol, which aims to develop into a Web3. application-unique storage blockchain, also identified as an appchain. By delivering an very affordable, rental-primarily based protection support primarily based on off-chain interoperability that supplies the similar finish infrastructure as the on-chain, the Octopus network decreases applications Current application saves the capital expense to get started the chain of applications of a hundred instances.
What is Appchain?
A decentralized application, or Dapp, is a net application that has at least element of its backend on a public blockchain. The Dapp backend can be implemented in two strategies: a set of sensible contracts hosted by a blockchain platform or on a devoted blockchain. The latter is referred to as an application-unique blockchain or application chain.
What is the substate?
Substrate is the most strong open supply blockchain framework out there on the planet right now. All styles of blockchains can be constructed on Substrate, this kind of as public chains, federated chains, parachain Polkadot, and Octopus appchain.
Why select Appchain?
There are no cryptographic resources still to serve appchains. While Polkadot seems to be the all-natural option of substrate-primarily based blockchains to merge, its architecture and economic system are not actually appropriate for appchains. Polkadot’s chain guard to be certain the security of a sharding, or slot / slot, expenses tens of hundreds of thousands of bucks a 12 months to connect to Polkadot’s network. While every parachain platform can host 1000’s of applications, which can be safe and support share protection expenses, it does not make sense for an application-unique blockchain to be at its personal cost.
For Cosmos, developers on the platform need to initiate PoS / Tendermint protection by establishing a native worth token and an lively Validator neighborhood from scratch. Polygon and Skale may well look like choices, but in actuality they are nonetheless primarily based on sensible contracts and thus not intended to host appchains.
Core engineering of the Octopus network
The underlying engineering of the Octopus network is minimally trustworthy blockchain interoperability. Based on this, Octopus Relay, itself a assortment of sensible contracts operating on the Close to blockchain, supplies protection for the appchains and tends to make the appchains interoperable with Close to and other appchains. Additionally, appchains can interact with blockchains outdoors of the Octopus network, by way of bridge on Close to, as with Ethereum on Rainbow Bridge, or they can use prepared-to-use IBC pallets to connect immediately to any blockchain that supports IBC.
Anyone can supply protection to the application chain by injecting OCT tokens into the Octopus Relay network. The Validator will then configure and run a validator node for the appchain and the Node will synchronize the validator from the Octopus Relay. Then, all validation nodes for an appchain will kind a quorum to attain consensus on block manufacturing and be rewarded with appchain-native tokens. If one particular or a lot more validators act maliciously in the consent course of action, any straightforward node can send proof of fraud to Octopus Relay to challenge them. Once proof of fraud is confirmed, staked OCT tokens belonging to malicious actors will be minimize. With this mechanism, the protection of the appchain is economically assured by the staking of OCT tokens in the Octopus Relay.
Roadmap
- January 2021: Capital request for traders and strategic partners
- February 2021: Seed round of financing
- March 2021: Complete testnet phase
- May 2021: Complete phase two of testnet with cross-chain sources
- July 2021: Call for Series A, Testnet phase three
- August 2021: Successful audit, OCT token launch
- September 2021: Mainnet and register app chains
- October 2021: The to start with Appchain comes into use.
What is the Octopus Network Token (OCT)?
OCT is a fungible and non-inflationary utility token that makes use of stakes on unique appchains to be certain their protection economically. The OCT token is a NEP141 token (Close to-141 Advanced Proposal equivalent to the ERC-twenty regular) on the Close to protocol.
Some standard information and facts about the OCT token
- Token identify: Octopus network
- Ticker: OCTOBER
- Blockchain: Octopus network
- Standard tokens: NEP-141
- Contract handle:
- Circulation provide: updating
- Total original provide: updating
- Maximum complete provide: a hundred,000,000 OCTOBER
Octopus Network (OCT) Token Allocation
Initial distribution of a hundred million tokens with the following composition:
- Initial protection (protection initialization): five%
- I DO: two.five%
- A league (Round A): twelve.five%
- Seed (Seed Round): 15%
- Appchain rewards (reward for Appchain): 15%
- angels (angel): six%
- Squad (workforce): 24%
- Air launches: five%
- Foundation (platform): ten%
- Strategic investor (strategic investor): five%
Squad
Company
Investors
Octopus Network (OCT) Token Storage Wallet
The ideal way is to keep it on the Near Wallet.
The potential of Octopus Network (OCT), must I invest in OCT coins?
Octopus network is an ground breaking Near Protocol layer two alternative so that 1000’s of Appchains and probably an limitless amount can be stored and protected with each other primarily based on Near without having considerably expense, a niche alternative with three net applications and allow cross- chain. With one particular of the 3 applications of the platform this kind of as Rainbow Bridge, Aurora EVM, just about all Dapps right now can be very easily launched on Near Protocol without having as well several structural adjustments, this is one particular of the approaches to support Near accelerate its ecosystem in the close to potential. All information and facts in the report is information and facts compiled by Coinlive and does not constitute investment tips. Coinlive is not accountable for any direct and indirect hazards. Good luck!
