Octopus Network price

OCT

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Octopus Network (OCT) stands out as a multichain Web3 infrastructure designed to empower appchains with flexible and affordable shared security, trust-minimized interoperability, and more. This innovative network has rebranded to Omnity Network, offering a comprehensive infrastructure set for appchains, including RPC Gateway, Appchain Explorer, Appchain Indexer, and Appchain Archiver. It serves as a meta-community for nurturing appchain-native communities within the Octopus Network and NEAR Protocol ecosystems.

The core technology of Octopus Network revolves around trust-minimal blockchain interoperability. Octopus Relay, a set of smart contracts running on the NEAR blockchain, provides leased security to appchains and enables their interoperability with NEAR and other appchains. Appchains can also connect with external blockchains via bridges on NEAR, such as the Rainbow bridge for Ethereum, or through the IBC pallet for direct connections with IBC-enabled blockchains.

Security within the network is economically ensured through $OCT staking in the Octopus Relay. Validators stake OCT tokens and run validator nodes, forming a quorum to reach consensus on block production. Malicious behavior is deterred by a fraud-proof mechanism, where any honest node can challenge malicious actors, leading to the slashing of their staked OCT.

The network's adaptive IBC feature facilitates seamless interoperability between the NEAR ecosystem, Cosmos, Polkadot, and Ethereum. Additionally, Octopus Network offers LPoS (Leased Proof-of-Stake) for scalable security and a flexible marketplace for decentralized trust through $NEAR Restaking. Resources such as Substrate Training and partnerships with various organizations further enhance its ecosystem.

The Octopus Network, symbolized by OCT, is a multichain Web3 infrastructure designed to empower appchains with flexible and affordable shared security, trust-minimized interoperability, and more. This network leverages advanced technologies like Cosmos SDK and Substrate-based frameworks to offer a comprehensive infrastructure for appchains. One of the standout features is its Adaptive IBC (Inter-Blockchain Communication), which facilitates seamless interoperability between different blockchains.

At the heart of Octopus Network lies the Octopus Relay, a set of smart contracts running on the NEAR blockchain. This relay provides leased security to appchains and ensures they can interoperate not only with NEAR but also with other appchains within the network. Additionally, appchains can connect with external blockchains through bridges on NEAR, such as the Rainbow bridge for Ethereum, or by using the IBC pallet to link directly with any IBC-enabled blockchains.

Security within the Octopus Network is economically ensured through the staking of OCT tokens. Validators stake OCT tokens in the Octopus Relay and set up validator nodes for appchains. These nodes sync the validator set from the Octopus Relay, forming a quorum to reach consensus on block production. Validators are rewarded with the appchain's native token. If any validator acts maliciously, honest nodes can submit fraud proofs to the Octopus Relay. Once confirmed, the staked OCT of the malicious actors is slashed, maintaining the integrity of the network.

The Octopus Network also offers extensive customization options for developers. They can create custom step templates and utilize the Cosmos SDK to tailor their appchains to specific needs. The network's cross-chain hub, Octopus Relay, further enhances its interoperability capabilities, making it a versatile platform for various blockchain applications.

The team behind Octopus Network comprises experienced developers and technical leads who continuously innovate to enhance the network's capabilities. This focus on innovation is evident in the network's ability to provide trust-minimal blockchain interoperability, a crucial feature for the decentralized web.

In addition to its robust security and interoperability features, Octopus Network has been rebranded to Omnity Network, reflecting its broader vision. The network also supports $NEAR restaking for shared security, further integrating with the NEAR ecosystem and enhancing its security model.

The Octopus Network's technology is designed to be accessible and efficient, making it an attractive option for developers looking to build and manage appchains. Its combination of shared security, interoperability, and customization options positions it as a significant player in the multichain Web3 infrastructure space.

Octopus Network (OCT) is a multichain Web3 infrastructure that provides a comprehensive set of tools and services for appchains—customizable blockchains tailored for specific applications. One of its primary applications is offering a complete infrastructure set for appchains, which includes shared security and interoperability solutions. This makes it easier for developers to create and manage their own blockchains without needing to build everything from scratch.

A key feature of Octopus Network is its ability to enable seamless interoperability between different blockchains. This is achieved through Octopus Relay, a set of smart contracts running on the NEAR blockchain. Octopus Relay provides leased security to appchains and allows them to interoperate with NEAR and other appchains. Additionally, appchains can connect with external blockchains via bridges, such as the Rainbow bridge for Ethereum, or through the IBC pallet for any IBC-enabled blockchains.

Another significant application is the flexible marketplace for decentralized trust that Octopus Network offers. This marketplace allows anyone to provide security to an appchain by staking OCT tokens. Validators who stake OCT tokens can set up and run validator nodes for appchains, contributing to the network's security and earning rewards in the form of the appchain's native tokens. This mechanism ensures that appchains are economically secured by OCT staking.

Moreover, Octopus Network supports the expansion of appchain offerings through the use of the Cosmos SDK, a popular framework for building blockchains. This integration allows appchains to leverage existing tools and libraries, making development more efficient and robust.

In essence, Octopus Network's real-world applications span providing essential infrastructure for appchains, enabling cross-chain interoperability, and fostering a decentralized trust marketplace. These features collectively empower developers and users to build and interact with a more interconnected and secure blockchain ecosystem.

Octopus Network (OCT) has carved a niche in the blockchain ecosystem through its innovative approach to trust-minimal blockchain interoperability. The network's core technology, Octopus Relay, operates as a set of smart contracts on the NEAR blockchain, providing leased security to appchains and enabling their interoperability with NEAR and other appchains. This foundational technology allows appchains to connect with external blockchains either via NEAR bridges, such as the Rainbow bridge to Ethereum, or through the IBC pallet for direct connections with IBC-enabled blockchains.

One of the significant milestones for Octopus Network was the launch of Omnity AI, which marked a pivotal moment in its technological evolution. This event showcased the network's commitment to integrating advanced AI capabilities within its ecosystem, enhancing the functionality and efficiency of its appchains.

Following this, the network underwent a rebranding to Omnity Network. This rebranding was not merely cosmetic but signified a broader strategic shift, aligning the network's identity with its expanded vision and technological advancements. The rebranding aimed to reflect the network's growing capabilities and its commitment to fostering a more interconnected blockchain environment.

In a further step to enhance its offerings, Octopus Network released Octopus 2.0. This update brought a diversification of appchain offerings, providing developers with more tools and options to build and deploy their decentralized applications. Octopus 2.0 represented a significant upgrade, emphasizing the network's adaptability and its focus on meeting the evolving needs of the blockchain community.

Another key development was the implementation of adaptive IBC (Inter-Blockchain Communication) for interoperability. This feature allowed for seamless communication between different blockchains, enhancing the overall connectivity and functionality of the Octopus Network. The adaptive IBC implementation underscored the network's dedication to creating a more integrated and efficient blockchain ecosystem.

Throughout its journey, Octopus Network has hosted various events and made numerous technological updates to improve its platform. These efforts have not only increased the network's visibility in the cryptocurrency world but also solidified its reputation as a forward-thinking and innovative player in the blockchain space.

The Octopus Relay mechanism, which allows anyone to provide security to an appchain by staking OCT tokens, has been a cornerstone of the network's security model. Validators set up and run nodes that sync with the Octopus Relay, forming a quorum to reach consensus on block production. This system ensures that appchains are economically secured through OCT staking, with mechanisms in place to challenge and penalize malicious actors, thereby maintaining the integrity of the network.

These key events and technological advancements highlight Octopus Network's continuous efforts to push the boundaries of blockchain interoperability and security, making it a significant player in the decentralized technology landscape.