Ocean Protocol Logo

Ocean Protocol OCEAN

Ocean Protocol header image

1. Summary

Fundamental Rank
96
Developer Rank
94
Social Rank
97
Coinrank
96
Price
$0.41 -1.7%
Market Cap
$174.33M (#132)
Supply
434.03M / 613.10M
Description

Ocean Protocol is essentially this open-source-based protocol that allows businesses as well as individuals to monetize data and data-based services.

It is built upon the Ethereum Blockchain and uses what is known as datatokens to gate access to data sets. The tokens are redeemed by users that need access to the speci...

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Ocean Protocol is essentially this open-source-based protocol that allows businesses as well as individuals to monetize data and data-based services.

It is built upon the Ethereum Blockchain and uses what is known as datatokens to gate access to data sets. The tokens are redeemed by users that need access to the specified information.

The software behind the OCEAN protocol is built to facilitate data exchange and link users that need data or do not have the resources when it comes to its storage with the people who have that store on hand.

The OCEAN Token Explained

The OCEAN token is designed to have multiple purposes and is most of the time used to validate the best datatokens and to allow users to participate in governance as well as buy and sell their data.

Keep In mind that the main OCEAN is due to its ability to be the unit of exchange for datatokens.

OCEAN holders can even stake their tokens and provide liquidity to the marketplace, where in return, these liquidity providers can earn a percentage of the transaction fees that are paid by the traders that end up using these liquidity pools.

Features of Ocean Protocol

The ocean protocol takes advantage of custom programs which are known as smart contracts, this is why it is based on Ethereum. This gives it the ability to ensure that each datatoken can be exchangeable across Ethereum’s blockchain as well as within all decentralized applications or dApps.

This works through taking advantage of three components. The first are the providers, which mint datatokens and sell them to access off-chain data sets. Then you have the consumers that purchase the datatokens and redeem access to the datasets. Then you have the marketplaces, which connect providers as well as customers and facilitate the transactions.

Furthermore, you have the Ocean Market on offer, which is an automated market maker or AMM that is built to facilitate the minting as well as the exchange of datatokens.

AMM’s essentially use a collection of liquidity pools that allow each trade to settle through a set of smart contracts.

When a specific provider wants to mint and publish a datatoken, they specify fields that inform customers about the product. Think along the lines of giving something a title, description, price, URL, and so on. When a customer ends up deciding to redeem a datatoken, this data is then encrypted and downloadable from the wallet that is already connected.

Then you have what is known as the compute-to-data feature of the ocean protocol, and this allows data sharing while preserving the user's privacy. Through the usage of this method, datatokens allow customers to leverage positions of a dataset in order to run specific computing jobs and support the development of research of AI.

Founders of Ocean Protocol (OCEAN)

Discussing the founders of the Ocean Protocol, it was a project founded in 2017 by an experienced group of entrepreneurs. This team includes:

  • Bruce Pon is an experienced international project manager. Alongside the Ocean Protocol, he is the CEO of BigchainDB.
  • Trent McConaghy is an experienced AI expert.
  • Then you have Christina Pon, who is the marketing director at Ocean Protocol and BigchainDB
  • Finally, you have Razvan Olteanu who has over 2 decades of technical and management experience.
2. Price

$OCEAN / USD

2.1. Market Performance

How does Ocean Protocol's (OCEAN) performance compare to assets of a similar market capitalization?

30 Day Return

-19%

OCEAN

-13%

Similar Market Cap

60 Day Return

-64%

OCEAN

-51%

Similar Market Cap

1 Year Return

433%

OCEAN

351%

Similar Market Cap

3. Developer Activity

We're monitoring 59 Github repos for the Ocean Protocol project.

Commits vs. The Market

  • Past 4 weeks: 302 commits vs. an average of 58
  • Past 12 weeks: 1,045 commits vs. an average of 244
  • Past year: 7,090 commits vs. an average of 1,512

Top Repos by Code Commits

Past week 50
Past 12 weeks 153
Past year 1034
Past week 23
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Past year 984
Past week 0
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Past week 19
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Past week 17
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Past year 465
Past week 5
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Past week 41
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Past year 414
Past week 4
Past 12 weeks 26
Past year 293
Past week 5
Past 12 weeks 32
Past year 291
Past week 21
Past 12 weeks 21
Past year 184
Past week 23
Past 12 weeks 54
Past year 122
4. Social Activity
Reddit Subscribers (oceanprotocol) 3,208
Active Reddit Users 23
Telegram Users 6,147
Twitter followers 116,661
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