Ocean Protocol is an open-source project which seeks to build infrastructure for the data economy of the future by giving organizations and people an opportunity to trade data and data-based services. The developers built Ocean Protocol on the Ethereum mainnet, which is perfect in terms of scalability. The Data Ecosystem Platform, one of the primary solutions of Ocean Protocol, is an environment where owners of data can upload and monetize it while still keeping their ownership.
The Data Marketplace is another Ocean Protocol product that facilitates bringing together buyers and sellers of data sets. The platform includes Enterprise and Community-level marketplaces. The former constitutes a solution developed specifically for companies operating in various industries such as logistics, while the latter features data sets relevant for other purposes.
OCEAN coin is an ERC-20 utility token which performs multiple roles in the context of Ocean Protocol. Owners of OCEAN coins can exchange them for datatokens, the currency used for buying and selling data sets. Additionally, OCEAN coins represent the means for staking to ensure the security of the protocol for which users can receive rewards.OCEAN Payment benefits:
- Widely Tradable Asset
OCEAN tokens are available at all major exchanges such as Binance, Kraken, Crypto.com, and Coinlist.
- Numerous Wallet Options
There are several reputable wallets that support OCEAN, including Metamask, Ledger, Trezor, and Argent.
- Minimal Fees
Transaction fees for transferring OCEAN coins are low, which is beneficial for enterprises wishing to offer affordable payment options to their clients.