OCN Price $0.00249 Change (24H) 5.64% Volume (24H) $2.14M Market Cap $11.82M

Odyssey (OCN) Price, News, and Wallet

Introduction

Odyssey is a protocol that runs primarily on the Ethereum platform for economic sharing. It aims to replace other forms of Ethereum based protocols such as Uber and Airbnb.

The primary focus of the Odyssey network is to create a completely unique ecosystem that is based on the Ethereum blockchain platform. The formation of this new ecosystem will enable more stable and economic sharing between users making trades or transactions.

The Odyssey network aims to develop a system to completely eliminate the concept of ownership by a single person or a small group of wealthy investors. To achieve this, Odyssey will enable economic sharing, allowing maximum sharing with minimal ownership.

They are working towards this goal by enabling a peer-to-peer sharing platform between their users and providing a smart contract system that users have to agree on before making any transactions.

Odyssey comprises three primary and crucial factors; Service Providers, Service Consumers, and Reviewers. The Odyssey platform runs primarily on the review system, and users are free to give their feedback or reviews to the trading party.

This system isn't new to anyone as all the popular platform uses this protocol system. The consumers can leave their feedback in the form of “Likes,” “Recommends,” or “Dislikes” and the subsequent users can decide if they want to trade, depending on the reviews.

History of Odyssey

The Odyssey token was officially open for sale on January 1st, 2017. Odyssey is an open and scalable platform and provides decentralization of data at minimal operating costs.

The whole structure of Odyssey is autonomous, and ownership is based on anonymity rather than single ownership.

Out of a total of 10 billion Odyssey tokens that were made available for sales, 6 Billion of them were sold and distributed to various investors. By February 2018, the Odyssey protocol network implemented its rewarding mechanism and was successful in its execution.

After the implementation, the next step was to create batches of p2p sharing platforms and for economic sharing. This was done in October 2018.

By mid-October 2018, the Odyssey coin had already achieved the monumental feat of making it to the Top 100 coins list as a result of its increasing market capitalization value.

How Does Odyssey Work

Odyssey works on the principles on three main factors for its sharing-based ecosystem, these are:

  1. Service Providers
  2. Service Consumers and
  3. Reviewers

The service providers as the name suggests provides the necessary service that others can make use of.

The service consumers are the ones that make use of the service that the providers offer or share.

The reviewers are the consumers again. They make use of the service shared by the providers and leave their feedback in order to let the other users know in detail about the services offered. This ensures that the Odyssey ecosystem remains stable and keeps improving at the same time.

The whole platform on which Odyssey functions is easy and simple to understand as most of the websites and applications we use today run on the same principle.

Odyssey implements the smart contract feature of the Ethereum blockchain platform in order to run its ecosystem, mainly focusing on providing an economic sharing mechanism.

The smart contract system is designed in order to promote the economy sharing mechanism in the most positive way possible.

The system provides maximum benefits to its users for contributing positively to the ecosystem. To execute this strategy, the Odyssey platform introduces an "incentive system."

The users can earn these incentives if the service they shared or offered is being used, purchased or recommended by other users. Hence it encourages its users to provide better and quality users.

Features of Odyssey

Decentralized and Minimal Transaction Cost

Since Odyssey is a decentralized platform, there is no need for approval from a centralized system or a core individual for making any transactions. The users are free to communicate with each other and make the transactions.

Also, since the users are individually responsible for their services, there is no need for any third party involvement and, hence, eliminates the need for paying an extra cost for their services.

Open protocol system

The platform that Odyssey functions on is purely an open source protocol. What this means is that the system is completely flexible and allows any user to make use of their service or provide their service using the Odyssey platform.

This provides the convenience for any new users to successfully start making use of Odyssey code and start contributing to the platform. With this ease of convenience, the problem of scalability is eliminated instantaneously.

Efficient Distribution and Demand Ratio

Odyssey’s smart contract ecosystem, borrowed from Ethereum platform plays a vital role in keeping the demand and distribution ratio in check.

The system makes sure that the demand for service is in equal proportion to its distribution.

This ensures that the service providers are always in adequate stock of their goods in order to meet the demands.

Anonymous and Trustworthy Reviews

Odyssey users are encouraged to leave their reviews on any goods or services from fellow users. This allows the service providers to make sure that their goods are performing well or vice-versa and take any steps to improve their services.

Since the users earn incentives depending on how positively their service or goods performs, it encourages the users to maintain a high quality of service.      

How to Buy Odyssey

Buying Odyssey aka OCN involves a two-step method. The first step involves buying either a Bitcoin (BTC) or Ethereum (ETH) from an exchange that accepts the banking cards as a valid payment option.

The second step is to transfer all that BTC or ETH tokens to the 0x wallets, and from there you can proceed to use the OCN effectively.

You can first purchase the BTC or ETH from coinbase (or any other exchange) by signing up.

For transferring BTC or ETH from your Coinbase wallet, you can use any exchange-listed below:

  • Gate.io
  • Kucoin
  • Bit-Z
  • Huobi Pro
  • Cobinhood etc

To store the Odyssey aka OCN, you can use any of the wallets below:

  • Ledger Nano S
  • Trezor

Odyssey News

The Odyssey is relatively a new cryptocurrency and, hence, the market value has only just started fluctuating. The present market value of Odyssey is $0.00925 as of October 10, 2018.

Technical Stats

Supply 10 Billion
Genesis Date January 15, 2018 (about 1 month)
Hashing Algoritm -
Block Time -
Hashrate N/A

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