The Ocean Protocol is now deployed to OxPolygon. Also, ocean users will be able to avoid high gas fees and opt for Polygon. This is where the transactions will cost mere cents with lower latency.
Ocean Protocol is now welcomed to the Polygon family.
Ocean Protocol strongly believes in that Data is a new asset class. Thus, they are doing their best to unlock the value of data. Consumers and Data owners will be making use of the Ocean Market App to publish, identify, and consume data assets securely without compromising on privacy.
Also, there are Ocean Libraries, which will be used by developers to build their own data wallets, build exchanges and lot others.
Ocean Datatokens convert the data in to data assets. Therefore, making it possible to have data wallets, data co-ops, and data exchanges by leveraging DeFi tools, exchanges, and crypto wallets.
The new datatokens available on-ramp and off-ramp for the data assets are converted into DeFi. The Ocean Protocol makes it easy to publish data services in a way to deploy and mint ERC20 datatokens and also to make it possible to spend data tokens in a way consuming data services.
The DAOs, exchanges and crypto wallets become the data wallets, exchanges and DAOs.
The market places applicable for the blockchain superpowers, which are based on Data Market places are to publish data, stake on data (curate), and to buy data.
Users will be able to earn by selling, staking, or running their own fork in the Ocean Market. Data has made it possible to ensure automatic price discovery.
The data is published as an interoperable ERC20 data token and users will be able to compute-to-data the token value thus enabling private data to be bought and sold. Also, it is decentralized exchange (DEX) which is tuned for data.
The good thing is that the data publishers will be able to monetize data while preserving their privacy and control. Also, the data consumers will be able to buy data (private data) which they will not be able to get before.
Initial Data Offering (IDO) in the Ocean Protocol refers to the publishing of datasets. These datasets will be the data for which the user will be having the rights to or the data will be one that has got value addition done.
The good thing is that anyone will be able to stake the OCEAN in a datatoken AMM pool. For clarity, those who stake the tokens are the liquidity providers. They are also known as curators. Also, the token staked is a proxy to the dataset quality.
