data

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Furthermore, data buyers can use this data for analytics, market insights, artificial intelligence modeling, plus much more.

• Data providers and consumers can discover each other and transact in a peer-to-peer manner with the minimal quantity of intermediary involvement.
• These are the project’s quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project.
• Also, the Ocean Protocol staking feature allows participants to earn a passive income by giving liquidity to the Balancer automated market maker and curating datasets.
• To avoid double spending of the ERC-20 datatokens, Ocean monitors their owners.
• Furthermore, the OCEAN token is branded as “the token for the Web3 data economy”.

It’s a vendor-neutral reference data marketplace for use by the Ocean community.
Compute-to-data resolves the tradeoff between your great things about using private data, and the risks of exposing it.
It lets the info stay on-premise, yet allows 3rd parties to run specific compute jobs onto it to get useful compute results like averaging or building an AI model.

With it, Ocean Market enables the monetization of private data while preserving privacy.
Software wallets provide another option and are free and easy to use.
They are available to download as smartphone or desktop apps and may be custodial or non-custodial.
With custodial wallets, the private keys are managed and backed up in your stead by the service provider.
Non-custodial wallets make use of secure elements on your device to store the private keys.
While convenient, they’re viewed as less secure than hardware wallets and could therefore be better suited to smaller amounts of OCEAN or even more novice users.

Ocean Protocol understands that some data is too sensitive to be shared — potentially due to GDPR or other reasons.
For these types of datasets, we offer a distinctive service called compute-to-data.
This enables you to monetise the dataset that sits behind a firewall without ever revealing the raw data to the consumer.
Download step, the info buyer sends 1.0 datatokens to the Provider wallet.
The Provider loads the encrypted URL, decrypts it, and provisions the requested service (send static data, or enable a compute-to-data job).
Download step or while running C2D job, Provider software needs to retrieve the info service URL given a datatoken address.
To avoid this, the Provider encrypts the URL, which then gets published on-chain.

Ocean Protocol Team

McConaghy previously founded a blockchain database software company called BigChainDB.
The purpose of the project was to create a secure data market that leveraged the transparency of blockchain technology.
These rewards result from a share of the transaction fees paid by traders that utilize liquidity pools.
Staking is one of the hottest DeFi features available in the market because it required hardly any research and your rewards are more consistent than trading.
Ocean Protocol is really a platform for data exchange and monetization that builds on Ethereum and other EVM-compatible blockchains.
Ocean Protocol is available on WazirX, India’s Most Trusted Bitcoin & Cryptocurrency Exchange.
Ocean Protocol announced a new program called Ocean

• Moreover, when datasets are published, they are tokenized as datatokens.
• ITSA has fully classified the OCEAN token in line with the International Token Classification framework and assigned an unique identifier.
• Gas fees for marketplace transactions are paid by the user initiating the transaction .
• Consumers can click “buy” on an asset in Ocean Market to buy

Ocean Protocol uses its unique datatokens to turn data into assets.
This provides a great many benefits previously absent in the data market.
Not only can data owners monetize their data through tokenization, but the protocol democratizes data as anyone can purchase it on the open market – including data that could normally be unavailable or hard to access.
No one will be able to access data via the blockchain without purchasing access although smart contract.
Ocean smart contracts encrypt the URL to the dataset before it is published on the blockchain.
Therefore only the encrypted URL will undoubtedly be queryable in the general public blockchain.

How Many Ocean Protocol (ocean) Coins Come In Circulation?

Hundreds of unique datasets are available that are sourced from private individuals, research institutions, commercial enterprises and government.
Publishing data on Ocean offers data providers and algorithm owners an exciting new channel to connect with a rapidly growing community of Web3 enthusiasts and data science professionals around the world.

Bruce Pon have been focusing on bringing data and AI together since 2013 because the founder of blockchain database BigchainDB.
He received a B.Sc in Engineering and an Advanced Executive Certificate from MITSloan.
Before Ocean Protocol, Pon co-founded Avantalion, a consulting firm that has helped to create 20 banks all over the world for businesses including Mitsubishi and Volkswagen.
Interested in Ocean Protocol , but not sure what it’s about or where you can even begin?
Don’t worry – this handy guide is built to teach you all you need to know about the project and get you prepared to jump into the most user-friendly trading experience in the marketplace.
Gas fees for marketplace transactions are paid by the user initiating the transaction .

Is influenced by way of a lot of the original factors such as for example project news and developments, market sentiment, the flow of cryptocurrency on exchanges, and the economy generally.
Hardware wallets or cold wallets like Ledger or Trezor supply the most secure option for storing cryptocurrencies with offline storage and backup.
However, they are able to require more technical know-how and so are a far more expensive option.
As such, they may be better suitable for storing larger amounts of OCEAN for more capable users.
Data is really a valuable commodity in the modern world, making Ocean Protocol a valuable resource for providing usage of it.

Ocean Protocol unlocks the worthiness of data by enabling anyone to monetize it through tokenization, and providing an open market where datasets can be purchased and sold.
With a library of resources and the use of blockchain technology, the protocol is a useful tool for data scientists and spreading the advantages of artificial intelligence.
Ocean users can stake OCEAN on datasets by depositing it into liquidity pools with datatokens.
This acts as a method of curation as the best datasets get allocated the biggest amount of OCEAN.
Those that participate can earn transaction fees which certainly are a percentage of sales volume set by the liquidity pool creator.