octopus

OCT Price Live Data

The live Octopus Network price today is $3,16 USD with a 24-hour trading volume of $3 589 007 USD. We update our OCT to USD price in real-time. Octopus Network is down 4,70% in the last 24 hours. The current CoinMarketCap ranking is #2989, with a live market cap of not available. The circulating supply is not available and a max. supply of 100 000 000 OCT coins.

If you would like to know where to buy Octopus Network, the top cryptocurrency exchanges for trading in Octopus Network stock are currently Gate.io, BingX, MEXC, Jubi, and Hoo. You can find others listed on our crypto exchanges page.

The core technology of Octopus Network is trust-minimal blockchain interoperability. Based on that, Octopus Relay, which itself is a set of smart contracts running on NEAR blockchain, provides leased security to appchains, and makes appchains interoperable with NEAR and other appchains. Furthermore, appchains can interoperate with blockchains outside the Octopus Network, either via bridges on NEAR, such as with Ethereum via Rainbow bridge, or they can utilize the out-of-the-box IBC pallet to connect with any IBC enabled blockchains directly.

Anyone can provide security to an appchain by staking $OCT tokens in the Octopus Relay. After that, the validator should set up and run a validator node for the appchain, and the node will sync the validator set from the Octopus Relay. Then all validator nodes for one appchain will form a quorum to reach consensus on block production and be rewarded with the appchain native token. If one or more validators act maliciously in the consensus process, any honest node can submit a fraud proof to the Octopus Relay to challenge them. Once the fraud proof is confirmed, the staked $OCT belonging to the malicious actors will be slashed. By this mechanism, an appchain’s security is economically ensured by $OCT staking in the Octopus Relay.