OCTA
No. 625Price
Markets
Market | Price | 24H Change | 30D Change | 24H Volume | 24H Value |
|---|
- Introduction
- Feed
What is OctaSpace (OCTA)?
OctaSpace is a user-centric cloud platform that provides decentralized solutions like virtual private networks (VPN), distributed computing, and data storage. Its goal is to challenge the dominance of a few centralized entities over internet infrastructure by leveraging global spare computing resources. This is achieved through a multi-layered blockchain system, creating a scalable distributed computing and storage service.
Who Created OctaSpace (OCTA) ？
OctaSpace was established in 2020 by a team of entrepreneurs and blockchain developers. Their objective was to develop a decentralized cloud platform enabling users to lease their spare computing resources for various tasks, including AI applications, cryptocurrency mining, and video rendering.
How Does OctaSpace (OCTA) Work?
OctaSpace is a decentralized cloud computing platform leveraging blockchain technology to offer distributed computing, data storage, and virtual private network (VPN) services. Operating on its native Layer 1 Proof-of-Work (PoW) blockchain network, it utilizes the native OCTA token for financial transactions. Additionally, OctaSpace employs a dedicated Layer 2 Proof-of-Authority (PoA) network to optimize operations, reduce fees, and enhance transaction speed.
At the heart of OctaSpace lies its core system, managing and monitoring resources, implementing the application layer, billing, and providing a user interface for service creation. Users can access CPU and GPU resources from nodes worldwide to efficiently handle resource-intensive tasks. Those with spare hardware can opt to become hosts, earning income by renting out their CPU, GPU, or traffic resources.
OctaSpace offers a web interface for user interaction and an HTTP REST API for automation or integration with third-party services. The OCTA token serves as the primary payment instrument, facilitating rewards to node owners and dividend payments for OCTA holders.
In essence, OctaSpace enables users to access distributed computing, data storage, and VPN services while leveraging spare computing resources globally to deliver efficient and scalable distributed computing and storage solutions. Operating on its native Layer 1 blockchain network, the platform utilizes the OCTA token for transactions and incentivization.
Tokenomics
Token Utility
The OCTA token functions as the native currency within the OctaSpace ecosystem, serving multiple pivotal roles such as being the primary payment instrument for services, issuing rewards to node owners, and disbursing dividends to OCTA token holders. It serves as the principal means of payment for services rendered, facilitating rewards to node operators, and distributing dividends to OCTA holders. The token is integral to various operations within the OctaSpace ecosystem, encompassing payments, rewards, and dividends, thereby occupying a central position in the platform's functionality and incentives.
Token Distribution
The token distribution of OctaSpace (OCTA) is engineered to prioritize fairness and decentralization, devoid of any pre-mined or pre-allocated token to particular individuals or entities, including the project team. Instead, all OCTA tokens are distributed through mining and other mechanisms, thereby guaranteeing a decentralized and equitable distribution of tokens. The total supply is capped at 48 million.
Investing in cryptocurrencies carries market risks and price volatility. Before buying or selling, investors should consider their investment objectives, experience, and risk tolerance. Investments can result in partial or total loss, and investors should determine the investment amount based on the level of loss they can afford. Investors should be aware of the risks associated with crypto assets and seek assistance from financial advisors if in doubt. Additionally, there may still be unforeseen risks. Investors should consider their financial situation with diligence before making any trading decisions. The opinions, news, analysis, etc., provided on this website are market commentary and do not constitute investment advice. The platform is not responsible for any profit losses incurred due to reliance on this information.
The cryptocurrency data displayed on the platform (such as real-time prices) is sourced from third parties and for reference only, no guarantees provided. Trading on the internet comes with risks, including software and hardware failures. The platform does not control the reliability of the internet and is not responsible for any losses resulting from connection failures or other related issues.