Ocean Protocol was created in 2017 by a top team of developers and artificial intelligence scientists. Ocean Protocol is a Singapore-based non-profit organization that aims to decentralize the secure and private sharing of data.
Ocean protocol provides the network and infrastructure to bring data providers, data consumers and service providers together in a common market. Ocean Protocol offers the average user the opportunity to invest and benefit from the future of data sharing.
For the first time, developers will have access to a large collection of previously unavailable datasets, participate in the ecosystem and share their ideas, as well as have the chance to fund their ideas.
Control of the network is decentralized and distributed among the Foundation, network owners, developers, data providers, and data consumers. With the V3 update released, Ocean Protocol went to an important stage, which is also included in the roadmap.
An open ecosystem for selling or buying valuable data has been created with the V3 update of the protocol, which supports exciting concepts such as data marketplace, datatokens and initial data offerings (IDOS).
Data Token is the interface for interconnecting data assets with blockchain and DeFi tools with the V3 update.
Crypto wallets — data wallets, crypto exchanges — data marketplaces, DAOs for data cooperatives, and DeFi are creating a kind of “data legos” through composability.
One of the most exciting features of the V3 version of Ocean Protocol is the potential for Datatoken sales. Datatokens are where individuals (data curators) can identify quality datasets and share OCEAN tokens on the reliability of the dataset.
It can be publicly traded on the Ocean Market, a decentralized exchange powered by Balancer.
The supporters of the project are quite strong, including the state of Singapore among the partners. The key investor of the project, OVioHQ, defines their favorite aspect of the project as bringing together most of the constituent parts that underpin the data market in a single unified solution.
- Digital ownership and attribution
- Efficient distributed database to allow high-data transactions
- Scalability — Proven BigchainDB / IPDB technology for “world scale”.
When we look at Token Metrics, Market Cap: 553M USD, Total Supply 1.41B, and there are 613M tokens in circulation. By 2024, the inflation rate drops to 6.8% with a serious decline.
Once the network is up and running, features such as Burning, Dao, Staking, Ocean-Data Token, Ocean Market, Data Farming will support the growth and value of the $OCEAN token and Ocean Protocol.
The World economic forum (WEF) selects 100 companies in the growth stage and publishes them under the title of “Technology Pioneers” every year and selects companies that are pioneers in their fields.
Among the selected companies:
• Airbnb
• Google
• Mozilla
• Spotify
• Twitter
There are giants like these, they have products that we constantly hear and even use in our daily lives. So, are there any names we know that were chosen in 2021?
Yes there is..
So who are they?
- Ocean
- Aave
- Chainlink
Thank you for reading, I would appreciate your comments.
