OCT

Octopus Network price 
OCT

$0.4  

0.62% (1d)

Octopus Network to USD Chart

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Octopus Network statistics
Market cap
 

0.00%

$35,045,697
#2763
Volume (24h)
 

9.06%

$506,571
#1348
Volume/Market cap (24h)
 
1.45%
Self-reported circulating supply
 
87,604,927 OCT
87.60%
Total supply
 
100,000,000 OCT
Max. supply
 
100,000,000 OCT
Fully diluted market cap
 
$40,004,254
OCT to USD Converter
OCT
USD
Price performance
24h 
Low
$0.3843
High
$0.4043
All-time high
Jan 16, 2022 (2 years ago)
$7.02
-94.3%
All-time low
Oct 12, 2023 (4 months ago)
$0.09167
+336.4%
See historical data
Popularity
In watchlists30,668x
998th / 8.8K
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Octopus Network community

 
 
 
 
 
 
 
 
 
 
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Octopus Network news

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

About Octopus Network

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.