Ocean Protocol

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Ocean Protocol

An Ecosystem for the Data Economy and Associated Services.

Project Introduction

Ocean Protocol is a tool for the Web3 data economy, a Decentralized Data Exchange Protocol to Unlock Data for AI. Ocean Protocol is kickstarting a Data Economy by breaking down data silos and equalizing access to data for all. An ecosystem for the data economy and associated services, with a tokenized service layer that securely exposes data, storage, compute and algorithms for consumption. Trustful Data Sharing. They bring together decentralized technology, a trust framework, and an ecosystem for data and related services. This allows for data to be shared while guaranteeing traceability, transparency, and privacy to enable data owners to maintain control of their data assets and access a wide range of marketplaces and services.

Key Features and Highlights

The Ocean protocol is designed so that data owners control each dataset and cannot be locked into any single marketplace. The Mission to Unlock Data. 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. They aim to unlock data, for more equitable outcomes for users of data, using a thoughtful application of both technology and governance. Their team and community are 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 provides tools for developers to build data markets, and to manage datatokens for use in DeFi:

Build Data Markets

Manage Datatokens for use in DeFi

Publish and consume data services

Transfer datatokens to another owner (or approve & transferFrom)

Manage pools

Use ERC20 support in web3.js, web3.py and Solidity to connect datatokens with crypto wallets and other DeFi services.

Ocean Protocol has built an Ocean’s Data Marketplaces Beta with Blockchain Superpowers. Users can use Ocean 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 is published as interoperable ERC20 datatokens. Compute-to-data enables private data to be bought & sold. It's a decentralized exchange (DEX), tuned for data. 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.

Ocean Market Beta has a total of 278 data sets & unique datatokens published by 172 accounts.1.114.218,827 OCEAN≈ 629,103,548.$ and 42.392,6 datatokens in 167 data set pools.