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Decentralized data exchanges: Ocean Protocol (OCEAN) in 5 🖐

Decentralized data exchanges: Ocean Protocol (OCEAN) in 5 🖐
By Fernando Gutierrez • Issue #70 • View online

What is Ocean (OCEAN)? 🌊
Ocean is a decentralized data trading protocol that enables data exchanges between the publishers and the buyers with symmetric control and transparency.
Despite starting in 2017, unfortunately, there don’t seem to be many data trades yet.
The premise seems to be that more data is good, but not with the current model of data abuse by corporations.
Ocean improves on this by empowering individuals to control their data and activating dormant or unused data by incentivizing participants through monetization.
Besides buying data, it is also possible to access the data (or part of it) on its location to perform certain computations on it without ever getting custody. They call it Compute-to-Data, and it is the cornerstone of data sovereignty.
Each data service published gets its own ERC20 datatoken. To access the dataset, you need the datatoken.
Ocean has a data marketplace. On top of that, anybody can create their own easily.
The total value locked in the Ocean Marketplace is €2 mn in 415 datasets.
OCEAN is the ERC20 protocol token. It is used to stake on datasets to give the liquidity and get part of the fees, governance, and unit of exchange.
It has a fixed supply, with around 25% of it already in circulation.
A few links
Last few words
Of course, this is not financial advice yada yada yada.
Care about your investments way more than you care about your data since we all know you’re on Instagram and have sold your soul to Google.
I’m catching up with crypto concepts and projects daily for 50 days straight. Please reply to this email if there is something that you would like me to cover.
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Cheers!
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Fernando Gutierrez

I'm catching up with crypto projects and concepts in a few paragraphs for at least 50 days straight.

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