Flattening and encoding an octree in unreal

This is an octree for a voxel engine I am creating, I have been having a dilemma with choosing a way of flattening and/or encoding this octree, so I have a way of sending data over to a client.

struct OctreeNode {
BYTE value;
bool is_leaf = true;
OctreeNode* children[8];
OctreeNode* parent;
};

I have considered translating it into a long string, but I have fears that it will have performance issues with more defined octrees