Odyssey Review – Cryptocurrency Guide
What Is Odyssey?
The developers of Odyssey coin plan to apply blockchain innovation to the burgeoning distributed sharing economy exemplified by organizations like Airbnb and Uber. Odyssey’s engineers imagine assets being shared along a blockchain with moderately little centralization and a higher level of security and trust than conventional frameworks. This fantasy of a one-estimate fits-all sharing economy is as old as the internet itself, the engineers contended.
Odyssey Coin OCN Guide
“The internet had its beginning as a device for sharing information, and its most punctual emphasess served just select scientific and military networks. After some time, it turned into the World Wide Web, incorporating the energy of distributed networking,” the engineers composed. “It’s not simply information that is shared today – it’s just about everything.”
What Is the Developers’ Mission?
The Odyssey project’s objectives are somewhat grandiose – the substitution of an economy in light of private possession. In Odyssey’s overcome new world, everybody has something to contribute to the economy all in all, and nobody claims anything totally.
About Odyssey Coin
“Later on, sharing will turn into the standard and private possession will be an extravagance,” the designers wrote in their white paper. “One may claim nothing but everybody can essentially share everything. One can change your costs adaptably in agreement with the request. One will buy something to the degree that one very it instead of spending more. Sharing will empower usage of extra assets and increase the general income and welfare of the general public.”
This perfect world can just happen, the engineers contend, by a distributed sharing framework that is open, secure, and ready to discuss helpfully with an assortment of other distributed offerings.
How Can It Work?
Odyssey’s distributed sharing ecosystem depends on three main contributors – specialist organizations, shoppers, and analysts. A single individual may possess every one of the three parts all the while in different sharing frameworks, all linked by the Odyssey spine.
Specialist organizations will utilize tokenized resources on the blockchain to offer their administrations for sharing, a similar way Uber offers rides or Airbnb offers beds. Shoppers in like manner can make utilization of the mutual administrations offered by the specialist organizations, while analysts go about as a kind of value control by means of the blockchain. All information contained on the blockchain is secure and straightforward because of the blockchain’s cryptographic nature. Information on the blockchain is additionally inherently distributed, allowing all levels access to beforehand restrictive information.
Odyssey’s rating framework is additionally one of a kind, using its OCN coin as both fuel and incentive for the blockchain’s continued development. This is in restriction to more customary sharing models, which depend on outsider surveys to rate specialist co-ops’ quality.
How Does Odyssey Differ from Traditional Peer-to-Peer Sharing Services?
Odyssey’s main complaint regarding the conventional distributed administration demonstrate is its fragmented nature. Rides must be shared on ride-sharing frameworks, beds on bed-sharing frameworks, et cetera. Odyssey means to join these frameworks into one firm ecosystem, linking specialist organizations, clients, and analysts in a distributed sharing web.
Odyssey’s definitive vision is an economy that is totally decentralized. This theoretical economy concentrates more on the individual and that individual’s capacity to contribute over various sharing platforms. To put it plainly, Odyssey intends to get rid of the centuries old company show. A group will never again need to join to give a decent or administration, if that great or administration can be given by individuals led on the blockchain.
Odyssey additionally endeavors to break sharing syndications, which run counter to the soul of the undertaking.
“Right off the bat, current sharing economy platforms are two-sided frameworks described by solid network externalities, creating the inclination towards characteristic restraining infrastructure and allowing for high-margins to be earned by the platform itself. This raises the operating expense borne by sharing resource suppliers,” the engineers composed. “Second, along the supply side of the sharing economy, the individuals who benefit the most are proprietors of profitable resources. Given that everybody can without much of a stretch transform their benefit into shared capital resources, responsibility for merchandise are normally gathered in a little group of well-off individuals. Taking everything into account, not every person can bear the cost of the responsibility for resources.”
By unlocking the capability of all individuals to take an interest in a sharing economy, Odyssey would like to at the same time engage the majority while making all administrations both less expensive and all the more unreservedly accessible.
Who Is the Team Behind Odyssey?
Odyssey records its two essential consultants as Yi Shi and Justin Sun. Yi Shi is the CEO of Shanghai’s Avazu Holding, while Justin Sun is the driving power behind Tron coin.
The security team additionally includes Goh Jian Kai, author and CEO of RateX, a Southeast Asian cross-fringe payment arrangements framework.
Who Are Odyssey’s Partners?
Odyssey’s business demonstrate depends vigorously upon accomplices to additionally build up a multifaceted sharing ecosystem. As of May 2018, Odyssey has created organizations with a few major names, including IBM and the Amazon Web Partners. Two of the most punctual organizations were OBike and Tron.
OBike is a stationless bike sharing company in Southeast Asia, and Tron is a cryptocurrency that intends to jump contenders, as Ethereum, to make a kind of Web 4.0 in view of decentralized substance creation and distribution. Tron lead Justin Sun is one of the essential consultants for Odyssey.
How Does Odyssey Plan to Address Scalability Issues?
Odyssey’s fantasies are huge, and that will in the long run require an enormous network of specialist organizations, clients, and analysts. Odyssey intends to actualize a transitory arrangement of recording in any event a few transactions offline to be gone into the blockchain at a later time. However, Odyssey additionally plans to intensely base future enhancements to developments within the Ethereum blockchain. As that blockchain unravels its adaptability issues, those arrangements will be connected to Odyssey.
As of May 2018, Odyssey (OCN) was trading on real exchanges at simply finished $0.03 with a general market top of about $70 million and a day by day trading volume of about $42 million. The circulating supply as of May 2018 was 2 billion, and the coin’s aggregate supply is 10 billion. OCN is accessible to buy on the following exchanges:
The highly anticipated inaugural token sale of the newest cryptocurrency in the market – oCoin, which was created by oBike in partnership with TRON, a world-leading blockchain-based decentralized protocol, took place on 11th January 2018.
The ODYSSEY, the oCoin foundation announced that the token sale would only be open to institutional investors for the time being. There were a total of four billion oCoins for purchase. Ocoin (Odyssey Protocol’s official token) reached their hard cap of 4 billion tokens within just 48 hours after the opening of the token sale.
ODYSSEY is a not-for-profit foundation that leverages blockchain technology. It seeks to make oCoin the official token and currency medium for carrying out all transactions in ODYSSEY’S blockchain. It aims to build a network of trust that eliminates the need for a third party or central body intermediaries during transactions.
The oCoin Odyssey Protocol
ODYSSEY has its mission as building the next-generation decentralized sharing economy and Peer to Peer Ecosystem. It seeks to increase the efficiency of the marketplace and boost ROI of product and service providers by reducing the overall costs of operation in the Global sharing economy and peer to peer ecosystem.
ODYSSEY will use the blockchain smart contract feature along with AI and big data to empower the ecosystem. It will create a trust-based protocol for all its ecosystem players that will have the following characteristics:
- A decentralized platform and minimum operating cost.
- Open source platform that is scalable.
- A platform based on trust and anonymity.
- Autonomous and better compliance.
- It has incentives for participation.
It will also create a Peer to Peer Ecosystem Community that is characterized by the following features:
- A decentralized platform with minimum transaction cost.
- An easy to monetize platform.
- Improved distribution and matching.
- Faster transactions with no payment barriers
ODYSSEY’s objective is to build a faithful sharing economy that has the following characteristics:
- Where sharing is the new ownership – everything can be shared, and everything can be connected.
- Data must be owned freely; it would not be used to exchange for the right to participate in the sharing economy. Everyone should also have full ownership of the data they possess and create.
- Freedom to share and freedom to earn. Earnings will be proportional to one’s contribution to the economy as per ODYSSEY’s rewarding mechanism.
- Credit is priceless, and it should be rewarded.
- The sharing economy should be autonomous.
oCoin currently accepts only ETH – Ethereum’s cryptocurrency token as it is based on the Ethereum protocol. Therefore all the wallets of the participants must be ETH ERC20 compatible to purchase oCoins. However, oCoin plans to support TRX, TRON’s cryptocurrency token in the not too distant future.
oBike, which is the biggest bike-sharing operator in Southeast Asia, is the first application to be compatible with the ODYSSEY protocol on the sharing economy. The strategic partnership between ODYSSEY and TRON would enable them to work closely on cross-ecosystem collaborations to benefit ODYSSEY’s sub-ecosystem like oBike.
oCoins can be used for a range of services have a variety of benefits for its investors. Apart from their potential to gain from oCoin’s exponential growth in value, investors can also use the coin to purchase online content. oCoins can also be used to buy any applications found on TRON’s platform. oBike users can also eagerly anticipate to be generating oCoins each time they ride, with the ability to earn more oCoins the longer they ride.
The Essence and Validity of Odyssey
Odyssey endeavors to make an economy where sharing of data is decentralized, essentially at a distributed ecosystem. It is a blockchain-based platform whose activities will be open, decentralized and less expensive for everybody involved. What’s more, along these lines, it will have decreased the general operating costs, increased productivity in the economy and inevitably supported overall revenues in the whole ecosystem.
More or less, Odyssey will be a convenient answer for the widespread data ruptures, issues around data control and how information influences a man or business’ notoriety. It will eliminate the restraining infrastructure that is the legislature or individuals of higher expert accessing vital information without questions approached and selling it off for enormous benefits. Everybody will be a piece of the ecosystem and any assets earned will be shared to everybody.
The entire web of data is very mind boggling and therefore difficult to pen in a short audit this way, and you may need to experience the whole Whitepaper. However, given that Odyssey incorporates Blockchain innovation, Big Data, and AI in this project implies it is feasible and will presumably be a win.
The Core Values of the Sharing Economy
Every member will have finish responsibility for data they’ll make and have.
Sharing of everything will be a standard.
Everybody who will frame some portion of the sharing economy will get an incentive that is corresponding to their contribution and will be allowed to share.
Credit won’t be sold and may be granted according to the platform’s credit protocol.
Restraining infrastructure or one-sided sharing of data will be non-existent.
The entire ecosystem will remain self-governing.
About the Odyssey Token Sale – OCOIN Token Sale
In spite of the fact that the ICO finished effectively with four billion out of the original 10 billion OCOIN tokens sold, there’s no issue talking somewhat about the idea of these coins.
What is Odyssey OCOIN?
It is an ERC-20 consistent, non-refundable, useful utility token that will fill in as the essential unit of exchange in the Odyssey ecosystem. Since it was produced in light of Ethereum blockchain, every one of them may be perfect with wallets that acknowledge ETH. It’s, however, essential to say that every token won’t speak to shareholding, cooperation, right, title or fill in as a guarantee of income or benefits.
Odyssey OCOIN ICO Summary
To wrap this up, numerous trustworthy people invested in the Odyssey OCOIN ICO, including QTUM Foundation, TRON Foundation, Game.com’s CEO, Kevin Hsu and Weixing Chen among numerous others. It just says a considerable measure in regards to the estimation of this entire thought and how it will be enormous once it ends up operational.
oCoin being the newest cryptocurrency on the market promises a range of potential benefits and seeks to create a trust-based sharing economy. oCoin will also have a wide range of application areas, and it will be functional on several cross-ecosystems which makes it ideal.