Together with AgTech startup Dimitra, Ocean is launching the Ideation Bounty. Ocean Protocol, the Web3 platform to open data for AI and commercial innovation, and the competition for agricultural data. Identify methods that can be used for analysis, offer ways to improve the data, and come up with insights that increase crop productivity.

What is Ocean protocol?

Ocean System is a decentralized data sharing protocol that makes data available to AI.

Ocean Protocol uses cutting-edge blockchain technology to exchange and sell data in a transparent, secure, and safe manner.

It offers a decentralized platform and network that links valuable data producers and consumers while also giving developers open access to create services.

Ocean Protocol carefully applies technology and governance for more fair outcomes for data consumers.

The Ocean team combines extensive knowledge of big data, blockchain, artificial intelligence, and data exchanges with practical business expertise gained from founding more than 20 businesses as entrepreneurs, designers, and developers.

Ocean Protocol’s Datatokens

The Ocean Protocol marketplace and platform foundation is made up of datatokens. A unique ERC-20 token known as a datatoken, which enables data providers to monetize the relevant datasets, is assigned to each dataset and data service on Ocean. You can access certain datasets and data services by purchasing a specific data token on the Ocean marketplace. You only need to transmit one datatoken to the appropriate data source to access the data.

Ocean Market: Ocean Protocol’s Data Marketplace

The data marketplace for Ocean Protocol, called Ocean Market, works like a decentralized exchange (DEX) for data. By listing and selling data, staking OCEAN coins, or operating their own fork of Ocean Market, users can use Ocean Market to earn OCEAN.

A data provider only requires a demanded dataset, either a private collection of data or a publicly available dataset with the potential for value addition to start listing and selling data on Ocean Market.

Is OCEAN protocol a good investment?

Trent McConaghy and Bruce Pon launched the company Ocean Protocol in 2017. The project emphasizes developing AI and disseminating its advantages.

The Ocean Protocol has the potential to dominate the data economy. It is a reputable project. In July 2022, the token is trading at a market cap of $78 million, 90 percent below its ATH. You may DCA and hold OCEAN for the long run if you view the bear market as an investment opportunity.

As this is not financial advice, we encourage our readers to conduct their own research before investing.

Is Ocean protocol’s OCEAN token available on Binance and Coinbase?

Coinbase does not support Ocean Protocol yet.

However, OCEAN is available for purchase on Kraken or UNISWAP DEX for US citizens and is also listed on the Binance exchange platform.