About Ocean Protocol (OCEAN)
Ocean Protocol is a blockchain protocol that allows both individuals and businesses to create, trade, exchange, and monetize data. Based on Etherueum, Ocean Protocol provides users with the ability to use datatokens to restrict access to data. These ‘datatokens’ can be redeemed by users in order to gain access.
Designed as a decentralized, interoperable alternative to traditional data monetization models and data marketplaces, Ocean Protocol connects data providers to data consumers through an ecosystem that integrates blockchain-based data provenance, privacy, and control.
Notably, Ocean Protocol features include a compute-to-data feature that allows private or sensitive data to be used within artificial intelligence (AI) models without being shared directly, promoting data interoperability in academic research.
Other Ocean Protocol features include the Ocean Market, an automated market maker (AMM) that facilitates the decentralized exchange of datatoken assets through the Ocean Protocol. Ocean Protocol’s use cases include decentralized data marketplaces, data wallets, and blockchain-based data monetization.
Within the Ocean Protocol ecosystem, OCEAN tokens serve multiple purposes: they facilitate the trading of datatokens, enable participation in decentralized governance, and can be staked in the Ocean Market AMM. Data users can employ OCEAN tokens either to lease or buy desired data. OCEAN price is updated and available in real-time on Binance.