OctaSpace $OCTA

OctaSpace is a unique Proof-of-Work blockchain project that is heavily based on the go-ethereum code base. It operates in harmony with an internal PoA network, which is used to increase transaction throughput for billing purposes. From a practical standpoint, OctaSpace operates as a public cloud platform, building its infrastructure and API on hardware provided mainly by users. It extends its services to include a GPU marketplace, VPN access, and application deployment.

Uniqueness of the Project

OctaSpace sets itself apart through its commitment to transparency and openness. The services it offers can be utilized in diverse fields requiring substantial computing power and a distributed environment, such as artificial intelligence, machine learning, CGI rendering, and password recovery.

Project History

OctaSpace initially started as a concept in 2020. The idea was to implement a Proof-of-Concept for a distributed system capable of executing tasks and applications. However, they encountered scalability issues once the initial system was ready, leading to a halt in development. In June 2022, the project was reinvented, resolving the problems faced during the PoC creation. This revamp provided the opportunity to implement the initial ideas.

Future Directions

Looking ahead, OctaSpace aims to continuously research and implement new services that add value for end users and can be monetized. A key ongoing task involves improving the API to access services and enhancing the user interface of products to offer a better user experience.

Use of the Octa Token

The OCTA token serves as the primary instrument of payment and is the currency used to pay for the services provided by the project. Additionally, it is used to reward node owners and for dividend payments to OCTA token holders.