Ocean Protocol (OCN)

Ocean Protocol is a decentralized data exchange protocol that unlocks data for AI.

Whitepaper

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Interest lvl

Medium

Updated: Aug 09, 2020

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User Rating

Medium

3/5 • 1 votes

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Ticker

OCN

Type

Utility-token

Token standard

ERC-20

Registration countrySingapore

Registration year2017

Office addressMapletree Business City 20 Pasir Panjang Rd East Wing #03-22/24 Singapore, 117439 Singapore

Ecosystems

Ethereum

What is Ocean Protocol

Ocean Protocol is a decentralized data exchange protocol that unlocks data for AI and other applications. 

Ocean is a network designed to facilitate interaction between data providers and consumers. Ocean is an open platform that allows the developers to easily access it and build their services. The Ocean team hopes to make data sharing and selling secure through employment of blockchain technologies. 

The Ocean ecosystem will include the following key participants: data providers (any entity that possess valuable data), data consumers (any entity that needs data for analysis and training AI/ML models), marketplaces (any portal that acts as a market, connecting buyers and sellers), community (general public, legislators, etc.), and developers. 

The Ocean Protocol network is using ERC20 Ocean tokens (OCN) as the means of value exchange. The data providers and curators earn Ocean tokens for their services. Market places connected to the Ocean Protocol and network keepers, which provide verification and validation services, also get their rewards in Ocean tokens.