Ocean Protocol Logo

Ocean Protocol OCEAN

Ocean Protocol header image

1. Summary

Fundamental Rank
Developer Rank
Social Rank
Coinrank
Price
$0.99 -10.5%
Market Cap
$431.42M (#193)
Supply
434.03M / 613.10M
Price
52W High price $1.82
52W High date 9th Apr 2021 (7 months ago)
All Time High (ATH) Date 10th Apr 2021 (7 months ago)
ATH Price $2.00
% From ATH -49%
All Time Low (ATL) Date 11th Aug 2019 (2 years ago)
% From ATL 7635%
Supply & Trading Volume
Volume (24h) 50.90M
Total Supply 613.10M
Circulating Supply 434.03M
Description

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

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

9.6%

OCEAN

61.2%

Similar Market Cap

60 Day Return

46.6%

OCEAN

99.8%

Similar Market Cap

1 Year Return

89.7%

OCEAN

1,748.2%

Similar Market Cap

3. Developer Activity

We're monitoring 60 Ocean Protocol Github repos for commits, code additions and deletions. This data is factored into the Developer Rank. Because of delays in Github's stat processing, recent activity maybe underrepresented.

Weekly Commits (All Ocean Protocol Repos)

Commits vs. The Market

  • Past 4 weeks: 85 commits vs. an average of 31
  • Past 12 weeks: 374 commits vs. an average of 123
  • Past year: 2,936 commits vs. an average of 857

Most Active Repos

Past week 40
Past 12 weeks 136
Past year 841
Past week 16
Past 12 weeks 53
Past year 576
Past week 0
Past 12 weeks 0
Past year 406
Past week 0
Past 12 weeks 9
Past year 352
Past week 27
Past 12 weeks 78
Past year 338
4. Social Activity
Reddit Subscribers 4,012
Active Reddit Users (past 24h) 25
Telegram Users 6,147
Twitter followers 133,521
5. News
6. More Information

Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:

Website https://oceanprotocol.com/
Explorer https://etherscan.io/token/0x967da4048cd07ab37855c090aaf366e4ce1b9f48
Twitter @oceanprotocol
reddit /r/oceanprotocol
Forum https://oceanprotocol.com/#blog
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