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Ocean Protocol, often known as OCEAN, is a blockchain-based marketplace that connects data consumers and providers. Tokenizing datasets and services is the core of Ocean's new business approach, which allows data suppliers to easily and successfully monetize their data while offering users with access to an ecosystem of invaluable data in one place. Data providers create ERC-20 tokens (datatokens) that allow users to access data, and the datatokens can be purchased with OCEAN tokens, the Ocean Protocol's native form of payment that also functions as a vehicle for staking incentives.
Ocean Protocol's Key Features
Smart contracts are used by the Ocean Protocol to ensure that users can exchange datatokens on the Ethereum blockchain and its decentralized apps. Here are some key aspects to help make that happen:
Ocean Market is a market maker that is automated (AMM). It is intended to facilitate the creation and interchange of datatokens. Unlike traditional orderbook trading, which matches "bid" and "ask" prices, AMM trades through a series of smart contracts, similar to Uniswap.
When suppliers are ready to mint and publish a datatoken, they will inform users about the products, including the price and description.
As a result, when a customer decides to redeem a datatoken, the data will be decrypted and can be downloaded directly from the wallet linked to the marketplace.
Compute-to-Data. It allows users to contribute data while maintaining their privacy. Datatokens enable users to use some elements of a dataset to carry out specific computational activities, contributing in the study and development of artificial intelligence while securing users' information. To recap, providers are not only free to hold datasets on their servers, but they are also free to sell them in part.
OCEAN Tokenomics
In the Ocean Protocol ecosystem, the maximum supply of OCEAN is 1.41 billion. Users can earn OCEAN tokens by listing and selling data, staking OCEAN coins, and establishing their own fork of Ocean Market. Stakes, the marketplace, and the community all receive a share of the exchange fees as rewards. It provides financial incentives to the marketplace to keep everyday operations running smoothly and to foster long-term growth. The community will get two-thirds of the exchange and marketplace fees for Ocean Market. Its community is actively working on the creation of the forthcoming OceanDAO, with the goal of improving the platform, establishing coordination, and performing other duties.
How to Purchase OCEAN Crypto?
1.Log in to your MEXC account and then select [Trade]. Select [Spot].
2.To see the available trading pairs, type "OCEAN" into the search field. Consider the OCEAN/USDT pair.
3.Scroll all the way down to the [Spot] box. Enter the amount of OCEAN you wish to purchase. You can place a Limit order, a Market order, or a Stop-limit order. As an example, consider the Market order. To finalize your order, click [Buy OCEAN]. The OCEAN you purchased will be stored in your Spot Wallet.
Ocean Protocol's Key Features
Smart contracts are used by the Ocean Protocol to ensure that users can exchange datatokens on the Ethereum blockchain and its decentralized apps. Here are some key aspects to help make that happen:
Ocean Market is a market maker that is automated (AMM). It is intended to facilitate the creation and interchange of datatokens. Unlike traditional orderbook trading, which matches "bid" and "ask" prices, AMM trades through a series of smart contracts, similar to Uniswap.
When suppliers are ready to mint and publish a datatoken, they will inform users about the products, including the price and description.
As a result, when a customer decides to redeem a datatoken, the data will be decrypted and can be downloaded directly from the wallet linked to the marketplace.
Compute-to-Data. It allows users to contribute data while maintaining their privacy. Datatokens enable users to use some elements of a dataset to carry out specific computational activities, contributing in the study and development of artificial intelligence while securing users' information. To recap, providers are not only free to hold datasets on their servers, but they are also free to sell them in part.
OCEAN Tokenomics
In the Ocean Protocol ecosystem, the maximum supply of OCEAN is 1.41 billion. Users can earn OCEAN tokens by listing and selling data, staking OCEAN coins, and establishing their own fork of Ocean Market. Stakes, the marketplace, and the community all receive a share of the exchange fees as rewards. It provides financial incentives to the marketplace to keep everyday operations running smoothly and to foster long-term growth. The community will get two-thirds of the exchange and marketplace fees for Ocean Market. Its community is actively working on the creation of the forthcoming OceanDAO, with the goal of improving the platform, establishing coordination, and performing other duties.
How to Purchase OCEAN Crypto?
1.Log in to your MEXC account and then select [Trade]. Select [Spot].
2.To see the available trading pairs, type "OCEAN" into the search field. Consider the OCEAN/USDT pair.
3.Scroll all the way down to the [Spot] box. Enter the amount of OCEAN you wish to purchase. You can place a Limit order, a Market order, or a Stop-limit order. As an example, consider the Market order. To finalize your order, click [Buy OCEAN]. The OCEAN you purchased will be stored in your Spot Wallet.
