Ocean Protocol is an ecosystem built on blockchain technology that enables both individuals and enterprises to extract the value of their data and earn money from it using ERC-20 datatokens.
With Ocean Protocol, data publishers can earn money from their data while still maintaining control over their privacy, while data consumers can now access datasets that were previously difficult to obtain. These datasets are available for purchase on the Ocean Market, and can be used or resold as desired.
Ocean 6f4388df-40a5-4f3a-af6c-9d832bd077b7, the data marketplace of Ocean Protocol, operates similarly to a decentralized exchange (DEX) for data. Users can earn OCEAN by listing and selling data, staking OCEAN tokens, or creating their own fork of Ocean Market. Let's delve into each of these possibilities.
To sell data on Ocean Market, a provider must tokenize it as datatokens and list it for access. The price can be set by the provider or discovered through an automated market maker mechanism. Sellers keep most of the proceeds while a small portion is divided among stakers, the marketplace, and the Ocean community.
Staking involves OCEAN token holders staking for particular datasets and earning a percentage of the exchange fees generated by the pool. This mechanism can help to distinguish high-quality datasets from inferior ones.
Ocean also provides tools and guidance for businesses to create their own personal data markets. The marketplace fee supports the sustainable growth of data marketplaces, and two-thirds of the fee is passed on to the Ocean community.
How Many OCEAN Tokens Are in Circulation?
OCEAN is the native utility token of Ocean Protocol, serving as the basic unit of exchange on the platform. It is utilized for community governance and staking on data. It has a circulating supply of 613,099,141 OCEAN Tokens and a maximum supply of 1,410,000,000.
Consider investing in Ocean (OCEAN)? It only takes 2 minutes to create an account on Bitget and start trading OCEAN.
Check out the available OCEAN trading pairs on Bitget!
Spot market