Ocean Protocol (OCEAN) logo
Ocean Protocol (OCEAN) logo

Ocean Protocol (OCEAN)

Expert Review
Nov 17, 2020

Ocean Protocol is a blockchain-based ecosystem that allows individuals and businesses to easily unlock the value of their data and monetize it through the use of ERC-20 based datatokens.

Through Ocean Protocol, publishers can monetize their data while preserving privacy and control, whereas consumers can now access datasets that were previously unavailable or difficult to find. These datasets can be discovered on the Ocean Market, where they can be purchased and later consumed or sold.

On Ocean Protocol, each data service is represented by a unique datatoken, which is used to wrap a dataset or compute-to-data service — this essentially allows third-parties to perform operations on the data without it ever leaving the secure enclave of the publisher.

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OCEAN is a utility token that is used for community governance and staking on data, in addition to buying and selling data as the basic unit of exchange on the Ocean Market. The price of these datatokens is set by an OCEAN-datatoken AMM pool, which adjusts the price of the datatoken as it is bought and sold based on supply and demand.

The opinions and assessments expressed in the text are the views of the author of the article and may not represent the position of Cryptogeek. Do not forget that investing in cryptocurrencies and trading on the exchange is associated with risk. Before making decisions, be sure to do your own research on the market and the products you are interested in.
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