Ocean Protocol News

Ocean Protocol is a decentralized data exchange protocol that enables individuals and organizations to share data securely and efficiently. The protocol is designed to give data owners control over who can access their data and how it can be used.

Ocean Protocol is built on the Ethereum blockchain and connects data providers with data consumers. The protocol tokenizes data services and datasets, allowing data providers to monetize their data. On the other end of the spectrum, data consumers can access reliable, valuable data securely and conveniently. Data providers mint ERC-20 tokens called “datatokens” to grant users access to their data, which can then be purchased with OCEAN tokens. The protocol also allows data providers to set certain conditions, such as price or usage restrictions, on how their data can be used. This ensures that data is only used the way the provider intends and helps prevent misuse or fraud. In addition, all transactions on the Ocean Protocol are transparent and recorded on the Ethereum blockchain.