Relationship between Ottochain and Near Today I'll be unveiling a unique Appchain "Where Community meets Blockchain" and how it relates to Near Protocol. I'm pretty sure the only Appchain that came through your mind after reading the quote was Ottochain.To those hearing about the Appchain for the first time I'll be demystifying Ottochain in this article. Ottochain is the first consumer chain launched by Octopus Network that adopts Octopus 2.0 Interchain Security, built on the Cosmos SDK and maintains compatibility and interoperability with the Ethereum Virtual Machine (EVM). The Ottochain have a unique token called the Otto tokens with many use cases such as; Transaction fee Governance tokens of Ottochain Rewards to incentives Dapps building on Ottochain It can also be used to reward smart contract developers for life as a % of the transaction fee going through their contracts once someone uses it. And more… Ottochain is currently at testnet phase and 50% of total supply of $OTTO tokens has been allocated to the community as Airdrop. To qualify for the airdrop you need to participate in the Ottochain zealy task which are activities and simple task where airdrop rewards will be allocated according to the points you accumulate and your invites. Relationship Between Ottochain And Near Ottochain will be using the octopus 2.0 mechanics that is the Cosmos SDK (Which makes it possible for Ottochain to behave as an EVM chain) + NEAR Restaking + Adaptive IBC. In addition to the increased opportunities offered to NEAR stakers, innovators on NEAR are incentivized to build on a Layer1 that offers assistance with bootstrapping nodes via decentralized, shared security — stimulating development on the NEAR mother chain. NEAR Restaking offers benefits to NEAR stakers, Octopus 2.0 appchains, and the broader NEAR Ecosystem: NEAR stakeholders automatically receive enhanced capital efficiency and diversification benefits as the same assets can now yield multiple staking incentives. Octopus 2.0 appchains enjoy increased participation in one of the most flexible, affordable, and accessible sources of security available solely by covering the edge cost of NEAR stakers with staking rewards. NEAR Restaking multiplies value streams across the NEAR Ecosystem while positively impacting NEAR’s supply-demand economics as staking becomes more attractive to NEAR holders. NEAR Restaking is permissionless and open to all NEAR projects choosing to opt in. Apart from Ottochain being a Blockchain ecosystem that is run by the community, it gets it's source of power from an infrastructure of Near Protocol called Octopus Network. Octopus 2.0 inaugurates the NEAR IBC Port, designed to connect NEAR Protocol to Cosmos and beyond. To achieve this goal, Octopus has introduced new architecture to accommodate various intermediate technologies within IBC, making it even more adaptable to heterogeneous chains. Octopus Network calls this architecture Adaptive IBC. With Near IBC, Ottochain interacts extremely well with NEAR,Cosmos chains and EVM chains. NEAR IBC Port is a cutting-edge innovation that establishes a seamless connection between the NEAR Protocol and Cosmos. To achieve this breakthrough, Octopus has implemented new architectural advancements, including external validation, to ensure flexibility across diverse chains. This dynamic architecture, known as Adaptive IBC, empowers Octopus Network to adapt not only to different blockchain networks but also to future technological advancements. Source: Ottochain.io https://medium.com/nearprotocol/octopus-2-0-promises-to-break-barriers-between-blockchains-a64c7c80f9d1 Relationship between Ottochain and Near Today I'll be unveiling a unique Appchain "Where Community meets Blockchain" and how it relates to Near Protocol. I'm pretty sure the only Appchain that came through your mind after reading the quote was Ottochain.To those hearing about the Appchain for the first time I'll be demystifying Ottochain in this article. Ottochain is the first consumer chain launched by Octopus Network that adopts Octopus 2.0 Interchain Security, built on the Cosmos SDK and maintains compatibility and interoperability with the Ethereum Virtual Machine (EVM). The Ottochain have a unique token called the Otto tokens with many use cases such as; Transaction fee Governance tokens of Ottochain Rewards to incentives Dapps building on Ottochain It can also be used to reward smart contract developers for life as a % of the transaction fee going through their contracts once someone uses it. And more… Ottochain is currently at testnet phase and 50% of total supply of $OTTO tokens has been allocated to the community as Airdrop. To qualify for the airdrop you need to participate in the Ottochain zealy task which are activities and simple task where airdrop rewards will be allocated according to the points you accumulate and your invites. Relationship Between Ottochain And Near Ottochain will be using the octopus 2.0 mechanics that is the Cosmos SDK (Which makes it possible for Ottochain to behave as an EVM chain) + NEAR Restaking + Adaptive IBC. In addition to the increased opportunities offered to NEAR stakers, innovators on NEAR are incentivized to build on a Layer1 that offers assistance with bootstrapping nodes via decentralized, shared security — stimulating development on the NEAR mother chain. NEAR Restaking offers benefits to NEAR stakers, Octopus 2.0 appchains, and the broader NEAR Ecosystem: NEAR stakeholders automatically receive enhanced capital efficiency and diversification benefits as the same assets can now yield multiple staking incentives. Octopus 2.0 appchains enjoy increased participation in one of the most flexible, affordable, and accessible sources of security available solely by covering the edge cost of NEAR stakers with staking rewards. NEAR Restaking multiplies value streams across the NEAR Ecosystem while positively impacting NEAR’s supply-demand economics as staking becomes more attractive to NEAR holders. NEAR Restaking is permissionless and open to all NEAR projects choosing to opt in. Apart from Ottochain being a Blockchain ecosystem that is run by the community, it gets it's source of power from an infrastructure of Near Protocol called Octopus Network. Octopus 2.0 inaugurates the NEAR IBC Port, designed to connect NEAR Protocol to Cosmos and beyond. To achieve this goal, Octopus has introduced new architecture to accommodate various intermediate technologies within IBC, making it even more adaptable to heterogeneous chains. Octopus Network calls this architecture Adaptive IBC. With Near IBC, Ottochain interacts extremely well with NEAR,Cosmos chains and EVM chains. NEAR IBC Port is a cutting-edge innovation that establishes a seamless connection between the NEAR Protocol and Cosmos. To achieve this breakthrough, Octopus has implemented new architectural advancements, including external validation, to ensure flexibility across diverse chains. This dynamic architecture, known as Adaptive IBC, empowers Octopus Network to adapt not only to different blockchain networks but also to future technological advancements. Source: Ottochain.io https://medium.com/nearprotocol/octopus-2-0-promises-to-break-barriers-between-blockchains-a64c7c80f9d1