Ocean Protocol defines itself as “a decentralized data exchange protocol that allows people to share and monetize their data while providing mechanisms for control, auditability, transparency, and compliance for all stakeholders involved.”
Ocean Protocol offers developers the ability to publish data privately and securely, exchange data, and utilize data, thus enabling the creation of marketplaces and other applications.
According to statements, Ocean Protocol allows users to create their own data marketplaces using decentralized Ocean data sharing network-connected Ocean software components. Data providers can maintain their privacy and control. Meanwhile, users can also earn money through the system mentioned. Data consumers, on the other hand, can access previously unobtainable data and obtain private data thanks to the shared information.
Furthermore, with Ocean Protocol, data can be stored more securely than ever before through Web3. Ocean Protocol emphasizes that there is a difference between exposing private data and using it, and they professionally establish this balance. The platform ensures data stays within the company and allows third parties to utilize this data to build useful models.
In addition, Ocean Protocol users can create models on artificial intelligence using private data.
OCEAN, the native cryptocurrency of the Ocean Protocol platform, is defined as a “utility token,” offering various advantages to its users. According to the platform, users utilize OCEAN to purchase data and artificial intelligence services. Ocean network transactions operate using Service Execution Agreements and facilitate payments with Ocean Tokens.
Additionally, the Ocean Token is designed to facilitate data exchange and maximize the data supply within Ocean’s POA networks. As a standard ERC-20 token, it is also present on Ethereum‘s mainnet for added security.
Furthermore, the platform states that the OCEAN token is used in three main areas: as a currency within the Ocean Protocol ecosystem, to maximize the supply of quality data, and in staking transactions.
At the time of preparing this article, OCEAN, which was trading at $0.7030, also set its own record with this figure.
In addition, OCEAN’s 24-hour trading volume is 58,992,650 USD.
It is also worth noting that OCEAN’s maximum supply is 1,410,000,000 units and there are currently 352,937,273 OCEAN in circulation.
Ocean Protocol is basically a project developed to overcome the difficulties faced by important projects due to data sharing barriers. Therefore, user comments indicate that the project has a very important point and therefore promises a promising future. However, investors also comment that they invested in Ocean Coin by believing in Ocean Coin and did not let them down in the current upward trend in the token.
Ocean Protocol’s own token OCEAN coin, which is considered among today’s promising projects, can be purchased quickly, safely and easily from Binance.