Octopus 2. 0 kicks off a new era of multichain interoperability on the BOS. Here's what this means:.

01 Sep 2023, 14:57

Octopus 2.0 kicks off a new era of multichain interoperability on the BOS 🐙 Here's what this means: - @oct_network has been at the forefront of developing #multichain architecture, starting with building an appchain ecosystem with Substrate - but having it run as a smart contract on #NEAR. Consequently, any appchain launching on Octopus Network has been interoperable with Substrate IBC-enabled chains and, of course, #NEAR. - With the launch of Octopus 2.0, the team is opening up the ecosystem further, enhancing what it means to be multichain. Octopus 2.0 introduces Adaptive #IBC and #NEAR re-staking. 🌱 Adaptive IBC - By now, we can all agree that there won't be one blockchain to prevail, but instead multiple chains serving different needs. The @cosmos ecosystem has been a hub of innovation and is host to a vibrant community of devs, opening up countless synergies between #dApps on @NEARProtocol & IBC. - With Adaptive #IBC, the @oct_network team is developing a trustless, secure way for protocols to communicate without requiring a bespoke hub. Instead, a smart contract on #NEAR will function as an IBC port, allowing projects to set up channels and move funds, data, keys, and even control accounts on another chain. - It's worth highlighting that this presents a much more secure way for these native networks to interact than bridges - which are often a target of hackers. 🥷 NEAR Re-Staking - Earlier this year, we witnessed the liquid staking narrative. Now, get ready for re-staking. 👀 - With re-staking, you can use your staked #NEAR to secure further protocols. This benefits stakers who can earn additional rewards and lowers the barrier of entry for #dApps that might have to secure their chains but want to avoid bootstrapping their own validator set. -Louis Liu ( @louisliubj ), the founder of Octopus, believes that re-staking can bring the #NEAR community together by tying infrastructure projects closer to #NEAR from an economic point of view. 🖋️💭 @near_intern Read more on how Louis sees Octopus 2.0 relate to the #BOS, and if he and @ilblackdragon see eye to eye here: