Ocean Protocol allows users to establish a decentralized marketplace that is made up of data assets and services that can be traded. The marketplace connects data suppliers and users, as well as providing access to the data. It maintains track of who owns the data and who has purchased and shared it on the blockchain.
Customers browse for data sets on multiple markets, then purchase an encrypted reference to it, which can only be opened after certain criteria (for example, payment) have been satisfied. Accordingly, data owners retain full control of their data, regardless of what happens to it or who buys it.
About Ocean Protocol
Ocean Protocol provides open-source tools, including as the Keeper blockchain client, Parity SecretStore, and Aquarius metadata management, to entrepreneurs looking to build and deploy their own Ocean network. Each data service is defined by a specific data token on Ocean Protocol, which is used to encapsulate a dataset or compute-to-data service. This effectively lets third parties execute operations on the data without it ever leaving the publisher’s safe enclave.
OCEAN is a utility token that is utilized for community governance and data staking, as well as buying and selling data on the Ocean Market as the fundamental unit of trade. The price of these data tokens is determined by an OCEAN-data token AMM pool, which changes the price of the data token depending on supply and demand as it is purchased and sold.
What is Ocean Protocol [OCEAN]?
Ocean Protocol enables people and companies to effortlessly unlock the value of their data and monetize it using ERC-20 data tokens. Publishers can monetize their data while maintaining privacy and control, and users can now get access to datasets that were previously unavailable or difficult to locate thanks to Ocean Protocol. These datasets may be found on the Ocean Market and acquired, then used, or sold.
Who Are the Founders of Ocean Protocol [OCEAN]?
Ocean Protocol was formed in 2017 by a team of skilled advisors and businessmen with a combined depth of expertise in creating and expanding high-tech companies. Bruce Pon, an experienced worldwide project manager and current CEO of BigchainDB; Trent McConaghy, a skilled engineer and AI expert; Cristina Pon, marketing director for both Ocean Protocol and BigchainDB; and Razvan Olteanu, who has over 20 years of technical and managerial expertise in top capacities, make up the Ocean Protocol core team.
The Ocean Protocol core team now consists of 15 people, and the platform is backed by a large number of advisers, many of whom are specialists in AI, blockchain, big data, and business, as well as having built and managed their own successful businesses.
What Makes Ocean Protocol Unique?
Ocean Protocol enables access to data that was previously inaccessible or difficult to obtain by letting everyone with sought-after datasets tokenize their data and make it accessible on the Ocean Market. This generates a new revenue stream for data publishers while providing scientists, researchers, data analysts, and anybody else with more trustworthy data.
OCEAN token owners can engage directly in the data token economy by placing their tokens on the ocean market data sets. Stakers then become liquidity providers in the chosen OCEAN-data token pool, earning a portion of the pool’s transaction fees.
Where Can You Buy Ocean Protocol [OCEAN]?
Ocean Protocol (OCEAN) tokens can be bought and exchanged on a variety of exchanges, including many top-tier platforms like Binance, KuCoin, Bittrex, and Poloniex. Binance is the most liquid centralized exchange platform for OCEAN as of November 2020, while Uniswap is the most liquid decentralized exchange.
Frequently Asked Questions
Is it possible to purchase OCEAN with cash?
No. OCEAN is currently unavailable for purchase using fiat currencies on any of the supported exchanges. You may, however, buy Bitcoin with fiat currency and subsequently convert it for OCEAN.
How does the OCEAN Network keep its data safe?
OCEAN is an Ethereum-based ERC-20 token. As a result, it is backed by Ethereum’s vast proof-of-work (POW) mining and node network, which protects it from a number of assaults.
On what factors the price of the OCEAN Network [OCEAN] Depends?
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact OCEAN’s price and market cap.
Ocean Protocol Official website – https://oceanprotocol.com/
Ocean Protocol Reddit – https://reddit.com/r/oceanprotocol
