Octopus Network Progress Report | July 1–31, 2023

MiX

Published in

Omnity Network

7 min readAug 6, 2023

By @MiX

July 2023 Highlights

CoinMarketCap Feature|Octopus2.0 Expected to Break Down Barriers Between Blockchains
The Second Cosmos Course and Shenzhen Offline Meetup Concluded Successfully
Octopus Nation, an Independent Community Initiative Organized by the Octopus Network Community, Officially Launches
Octopus Nation Takes Initiative to Officially Launch the Ottochain Project
Octopus Network’s Louis: App Roll-up Eventually Becomes Appchain

R&D｜Technical Development Progress

Octopus Network 2.0 & Apps

1、Design the prototype of Octopus 2.0 Apps;
2、Updated Appchain Oyster to support solo-machine;

Octopus Network 2.0 NEAR Restaking

Local testing for the LPoS Market contract;

Octopus Network 2.0 Adaptive IBC

1、Local testing for the Hermes ←→ VP;
2、Local testing for the NEAR-IBC

Octopus Network Appchain Ecosystem

Five Appchains have launched and eight Appchain Candidates are in various stages of development.

The Octopus Network currently operates 5 Appchains: Fusotao, Myriad, Atocha, DeBio, and Discovol.

Recent key developments of these projects are as follows:

Myriad.Social

Myriad is a decentralized social network to turn Web2 content into sovereign Web3 data on its app, messenger, and Metaverse.

The Chrome extension plugin for Myriad Social has officially landed on Google. The plugin allows users to import posts from Twitter, Reddit, YouTube and Twitch into Myriad Social.

Download

Atocha Protocol

Atocha Protocol is a decentralized protocol for creating and solving puzzles with prizes.

As a strategic partner of the Penang Heritage Treasure Hunt organized by GeNFesT, participating in the treasure hunt activity can activate the Atocha NFT medal.
Read more…

Debio.Network

Decentralized Bio Network (DeBio) utilizes blockchain technology aimed at genetic testing, bioinformatics analysis, and biomedical testing

Unlock the power of DNA with Debio, while Debio will protect users’ privacy. You can try to find out if there are any suspicious analysis labs around you through the following process.
Read more…

Octopus Network Community Governance

Octopus Network Ecological Data

As of July 31, 23:59 UTC:

Total $OCT pledged —8,302,319
Total annual revenue — $30,687
Total number of validators — 61
Average annualized staking returns — 2.6%

Octopus Network Community Call#12

On July 8th, the 12th community call was held.

I have noticed that the shared security of Cosmos Hub is going well, and several Cosmos chains are trying to launch as consumer chains.

This is great news for us. Even if we offer a comparable service to Cosmos Hub, we are not competitors. It’s time for all Cosmos chains to realize that shared security is a better solution than running as a solo PoS chain, which is the most expensive way to set up blockchain security. Once many Cosmos chains realize this, they will investigate the various options available for shared security. I believe that the LPOS offering from Octopus has some unique advantages. While shared security from Cosmos Hub will bring more ecosystem legitimacy to Cosmos appchains, Octopus’ offering will be more accessible, flexible, and cost-effective than other offerings. As the cake grows bigger, we will definitely get a bigger slice. Please do keep an eye on our progress and join the shared security game early.

Read more…

Octopus Network Global Influence

Bnews Character Interview

Louis: App Roll-up Eventually Becomes Appchain

Regarding the dispute between multi-chain interoperability and multi-rollup interoperability, I would first clarify one thing — Rollups are blockchains, it’s just that currently Rollups do not produce blocks through decentralized consensus. If relying on a centralized sequencer, some of the fundamental characteristics of blockchains will be lost, such as liveness and censorship resistance for Byzantine fault tolerance. Therefore, in order to achieve a decentralized Rollup, many nodes are needed to act as Sequencers, and these nodes should be Permissionless, most likely through a PoS network.

On the other hand, for higher security, PoS Appchains can publish blocks to a DA layer, and submit transaction digests to a public chain that does Settlement.

Between these two architectures, although one is App Roll-up and one is Appchain, are there any fundamental differences? This is the so-called different routes leading to the same outcome. The core reason is that in a world of modular blockchains, the problems faced by Web3 infrastructure are the same, and the best available technologies are also the same.

CoinMarketCap Feature

OCTOPUS 2.0 PROMISES TO BREAK BARRIERS BETWEEN BLOCKCHAINS

Read more…

Aduiting Smart Contracts: Best Practices & Pitfalls

Octopus Network’s Louis: Managing Smart Contract Security Throughout the Entire Lifecycle is Crucial

On July 7th, Octopus Network co-hosted a Twitter Space with BlockSec and invited industry experts from the NEAR ecosystem to discuss this topic.

Check out the following excerpts to learn more, or you can listen to the audio recording on Spotify.
Read more…

Aaron Attended the WebX Conference Held in Tokyo, Japan in 2023

Even during the bear market, the Japanese market still shows interest in blockchain projects. This includes the University of Tokyo’s initiative to publish blockchain educational materials for the public, and a Swiss government agency promoting collaboration between Switzerland and Japan.

Two interesting projects are Astar and Japan Open Blockchain.

The second Cosmos Chinese developer course Concludes Successfully

The Cosmos Showcase in Shenzhen Offline Meetup is an Extension of the Second Cosmos Chinese Developer Course

The second Cosmos Chinese developer course ran from June 1st to July 15th. Over 100 people signed up, 42 students were admitted, divided into 6 classes. The total course duration was 5 weeks, covering basic curriculum, homework, Q&A, supplementary extracurricular courses, and Demo Day homework.

There were 7 projects participating in the Shenzhen Cosmos project showcase:

Apus Network: A decentralized AI companion creator network
Ping.pub: A lightweight Cosmos blockchain explorer
Spidex: A perpetual contract protocol with deep liquidity
SAO Network: A decentralized storage network built on Cosmos SDK and IPFS
Artela: Native EVM extension capabilities for Cosmos SDK and WASM chains
Cosmology: One-stop development tools for Cosmos developers
Abdex: Decentralized stablecoins with risk exposure control and depth-enhanced order books

AMA｜Octopus Network x Nearity

Octopus Network partner Vivi was invited to participate in an AMA hosted by Nearity, to discuss the progress of Octopus2.0 with the community.

Check out the following excerpts to learn more, or you can listen to the audio recording on Spotify.

Independent Community Initiative | Octopus Nation

Octopus Nation Officially Launched on July 19, 2023

Octopus Nation is an independent community initiative organized by the Octopus Network community, dedicated to fostering a sense of belonging, engagement and satisfaction among Octopus Network community members. As an Octopus Nation member, you can actively participate in various activities, earn rewards, and contribute to the growth and success of Octopus Network.

Activities within Octopus Nation started in the first week of May with 14 founding members which after a month has reached a total number of 40 as of the second week of June.

Octopus Nation receives direct support from Octopus Network, with the exact amount and operation mechanism yet to be determined. Funding will be activity-based, and proposals should be submitted one month in advance and a week is needed for approval.

There is also a long term plan for Octopus Nation to be self-sufficient which will involve members expressing their skills to the success of various projects that will be embarked on by the guild soon.

Octopus Nation website:
https://www.octopus-nation.com/

Octopus Nation Takes Initiative to Launch Ottochain Project

Ottochain is an application chain built on CosmosSDK, planned to be the first project to join the Octopus2.0 multi-chain network ecosystem, provided with shared security and cross-chain services by Octopus Network.

https://ottochain.carrd.co/
Read more…