Ocean Protocol (OCEAN) Review : Complete Guide & Review About Ravencoin

Ocean Protocol (OCEAN) Review : Complete Guide & Review About Ocean Protocol

About Ocean Protocol

Ocean Protocol unlocks the value of data. Data owners and consumers use Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion. OCEAN holders stake liquidity to data pools. Developers use Ocean libraries to build their own data wallets, exchanges, and more. datatokens turn data into data assets. This enables data wallets, data exchanges, and data co-ops by leveraging crypto wallets, exchanges, and other decentralized finance (DeFi) tools.

Ocean Protocol Storage Key Points

Coin BasicInformation
Coin Name Ocean Protocol
Short Name OCEAN
Circulating Supply434,026,836.77 OCEAN
Total Supply613,099,141
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter Page Click Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project Website Click Here To Visit Project Website

Mission

Ocean Protocol Society is becoming increasingly reliant on data, especially with the advent of AI. However, a small handful of organizations with both massive data assets and AI capabilities attained worrying levels of control which is a danger to a free and open society. the aim to unlock data, for more equitable outcomes for users of data, using a thoughtful application of both technology and governance. team and community is committed to kick-starting a New Data Economy that reaches every single person, company and device, giving power back to data owners and enabling people to capture value from data to better the world.

Ocean Protocol is governed by a Singapore based non-profit foundation, whose mandate is to ensure open access to the protocol and platform, provide data governance, encourage the network ecosystem growth, and take measures to ensure that the platform becomes ever more decentralized with time. The Ocean Protocol Foundation has contracted BigchainDB to build the core protocol, network, marketing, and community activities.

On-Ramp and off-ramp for Data Assets into DeFi

Ocean Protocol makes it easy to publish data services (deploy and mint ERC20 datatokens), and to consume data services (spend datatokens). Crypto wallets, exchanges, and DAOs become data wallets, exchanges, and DAOs. Datatokens are the interface to connect data assets with blockchain and DeFi tools. Crypto wallets become data wallets, crypto exchanges become data marketplaces, DAOs for data co-ops, and more via DeFi composability. It’s “data legos”.

  • Out-of-the-box data wallets, exchanges, more.Datatokens repurpose ERC20 crypto wallets as data wallets, crypto exchanges as data marketplaces, and more.
  • Drive more value to DeFi.Datatokens bridge the multibillion data industry into DeFi assets under management, and help valuable data get used to optimize DeFi yields and capital efficiency.
  • Simple decentralized access control.The benefits of decentralized access control combined with a simple developer experience, user experience, and code.

Data Marketplaces with Blockchain Superpowers

Ocean Protocol Market to publish data, stake on data (curate), and buy data. Earn by selling, staking, or running your own fork of Ocean Market. Data has automatic price discovery. Data ispublished as interoperable ERC20 datatokens. Compute-to-data enables private data to be bought & sold. It’s a decentralized exchange (DEX), tuned for data.

Publishing

Publishing a dataset amounts to an Initial Data Offering (IDO). It can be data that the user has rights to, or open data with value-added. Upon publishing a dataset, it becomes a data asset with its own ERC20 datatoken. The publisher can set a fixed price, or let price be auto discovered. Ocean Market supports the latter with an Automated Market Maker (AMM) powered by Balancer, deployed in a gas-efficient manner. Anyone can stake OCEAN in a datatoken AMM pool. Stakers are liquidity providers [ref]. Stakers are also curators, as the amount of stake is a proxy to dataset quality.

Automated price discovery. A given data asset’s AMM pool holds both OCEAN and the datatoken as liquidity. Price is based on the ratio of OCEAN tokens versus datatokens in the pool. If are sold, then more OCEAN enters and leave, so datatoken price goes up. If more datatokens enter or OCEAN leaves, then price goes down.

Buy & Sell Private Data, While Preserving Privacy

Compute-to-data resolves the tradeoff between the benefits of using private data, and the risks of exposing it. It lets the data stay on-premise, yet allows 3rd parties to run specific compute jobs on it to get useful compute results like averaging or building an AI model.

More Data, Provenance, and Earning Opportunities

As a data scientist or AI practitioner, you can benefit from access to more data (including private data), crypto-secured provenance in data & AI training, and income opportunities for selling data and curating data.

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