Answer:
Instead of following Caesar's example and making himself dictator, Octavian in 27 BC founded the principate, a system of monarchy headed by an emperor holding power for life. His powers were hidden behind constitutional forms, and he took the name Augustus meaning 'lofty' or 'serene'.
or
Upon his adoption, Octavius assumed his great-uncle's name Gaius Julius Caesar. ... Historians usually refer to the new Caesar as Octavian during the time between his adoption and his assumption of the name Augustus in 27 BC in order to avoid confusing the dead dictator with his heir.
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