What is Ocean Protocol?
Ocean Protocol is a decentralized data exchange protocol that aims to unlock the value of data and enable secure and privacy-preserving on-chain data sharing and monetization ⛓️ It provides a framework for building data-centric applications that facilitate the exchange of data assets while ensuring data privacy, security, and compliance.
Ocean Protocol is used for a variety of purposes, including:
- 1.Data Sharing: Ocean Protocol allows individuals and organizations to share data securely and privately, enabling data owners to monetize their data assets while maintaining control over their data.
- 2.Data Monetization: Data owners can monetize their data by offering it for sale or by providing data services through compute-to-data (C2D) capabilities. Data consumers can access and utilize data assets.
- 3.Decentralized Data Marketplaces: Ocean Protocol facilitates the creation of decentralized data marketplaces where data providers can list their data assets and data consumers can discover and access them. These marketplaces operate on a peer-to-peer basis, eliminating the need for intermediaries and providing more efficient and transparent data transactions.
- 4.AI Development: Ocean Protocol supports the development of AI models by providing access to diverse and high-quality datasets. Data scientists and AI developers can leverage these datasets to train and improve their models, leading to more accurate and robust AI systems.
- 5.Access control: Ocean Protocol incorporates token-gating mechanisms that grant or restrict access to specific data assets based on predefined criteria, ensuring controlled and regulated data sharing within the ecosystem.
By leveraging blockchain technology and smart contracts, Ocean Protocol offers open-source tools to securely publish NFTs of your data and algorithms to seamlessly collaborate, trade, and innovate with others.
A vast ocean of data awaits you...
Get a glimpse into some of the things you can do with Ocean Protocol. The opportunities with our protocol to leverage an "Ocean of data" are great and ever-evolving. Together, we'll dive deeper and uncover even more ways to harness the power of decentralized data.
Build Your dApp Building a dApp using Ocean Protocol can be a great way to bring next generation data sharing tools to your users. By utilizing Ocean's technology stack, you will leverage Web3 technological advantages that distinguish your application from others and can tap into a robust network of Ocean core data engineers/AI scientists supporting dApp developers.
When building a dApp on top of Ocean Protocol, you gain access to a wide range of features and functionalities:
- 1.Data access and discovery: Utilize Ocean's data marketplace infrastructure to access diverse and valuable data sets. Leverage the data discovery mechanisms to help users find relevant data assets for their applications.
- 2.Data interoperability: Seamlessly integrate and interact with various data sources using Ocean's standardized data representation formats. Ensure compatibility and easy data integration within your dApp.
- 3.Data privacy and security: Leverage the cryptographic capabilities of Ocean Protocol to ensure privacy and security of sensitive data. Implement access controls, encryption, and secure data-sharing mechanisms within your dApp.
- 4.Provenance and transparency: Leverage the transparency and immutability of the blockchain to establish data provenance. Build trust among users by providing an auditable record of data sources, usage, and transactions.
- 5.Tokenized incentives: Utilize datatokens (ERC20) within your dApp to incentivize data providers and consumers. Design token economies that align with the specific requirements of your application, encouraging participation and value creation.
- 6.Community participation: Leverage the community-driven nature of Ocean Protocol to foster collaboration, feedback, and innovation. Engage with the Ocean community to share ideas, contribute to the ecosystem, and gather insights to enhance your dApp.
These are a few examples of what can be built on top of Ocean.
Build Your Data Marketplace With Ocean Protocol, you have the flexibility to create and launch your own data marketplace tailored to your specific requirements. Utilize the protocol's infrastructure and tools to establish a platform where data providers and consumers can connect and transact.
You can choose from two options:
- 1.Fork the Ocean Marketplace and customize it: You have the ability to fork the existing Ocean Marketplace codebase and customize it according to your needs. This allows you to leverage the foundational infrastructure and functionality already built by Ocean Protocol while tailoring the user interface, features, and branding to align with your marketplace vision. Follow this tutorial to learn how to do it.
- 2.Build your marketplace with Ocean components: Alternatively, you can build your data marketplace from scratch using Ocean Protocol's modular components. Ocean provides a comprehensive set of building blocks, such as the Aquarius, Provider, Ocean contracts, and Ocean libraries (ocean.js & ocean.py), which you can integrate into your own marketplace development. This empowers you to create a unique and customized data marketplace experience while leveraging the underlying capabilities and standards provided by Ocean Protocol.
Tokengate Your dApp or Content Are you interested in token gating your dApp or content using an Ocean data NFT? We offer you all the code and support that you need to make this happen.
Feel free to fork the Ocean Token Gate template code and customize it to start building your dApp from scratch. If you already have an existing dApp of yours, then you can also modify it simply to use an Ocean data NFT. The Ocean Token Gate repo will be helpful to inform your coding to do this, of course. But we also explain the smart contract mechanics of Data NFTs and Datatokens in our docs for you to understand the code better. Remember, we're always here to help guide you with any coding questions on Discord.
Buy or Sell Data Users have the possibility to publish, purchase, and sell data within the Ocean ecosystem. Data is tokenized in the form of interoperable ERC721 data NFTs and ERC20 datatokens. The platform acts as a decentralized exchange (DEX) specifically designed for data transactions. Every action, including publishing, purchasing, and consuming data, is securely recorded on the blockchain, creating a tamper-proof audit trail.
For data scientists and AI practitioners, Ocean presents opportunities such as increased access to a broader range of data, including private data, crypto-secured provenance for data and AI training, and potential income streams from selling and curating data.
The following guides will help you get started with buying and selling data:
Manage datatokens and data NFTs for use in DeFi Ocean makes it easy to publish data services (deploy ERC721 data NFTs and ERC20 datatokens), and to consume data services (spend datatokens). Crypto wallets, exchanges, and DAOs become data wallets, exchanges, and DAOs.
Ocean-based apps make data assets on-ramps and off-ramps easy for end users. Ocean smart contracts and libraries make this easy for developers. The data itself does not need to be on-chain, just the access control.
Data NFTs are ERC721 tokens representing the unique asset and datatokens are ERC20 tokens to access data services. Each data service gets its own data NFT and one or more type of datatokens.
To access the dataset, you send 1.0 datatokens to the data provider (running Ocean Provider). To give access to someone else, send them 1.0 datatokens. That's it.
Since datatokens are ERC20, and live on Ethereum mainnet, there's a whole ecosystem to leverage.
- Transfer datatokens to another owner (or approve & transferFrom).
If you're not familiar with it, the Ocean Provider serves as the proxy service responsible for encrypting/decrypting data and streaming it to the consumer. It also verifies user access privileges for specific data assets or services. It plays a vital role in the Ocean architecture.
Fees are now paid to the individual or organization running the provider when a user downloads a data asset. The download fees are set based on the cost per MB, and there is also a provider fee for compute jobs, which is priced per minute.
Both the download and compute fees can be set to any absolute amount, and you have the flexibility to choose the token in which you want to receive these fees. They do not have to be in the same currency used in the marketplace. For instance, the provider fee could be a fixed rate of 5 USDT per 1000 MB of data downloaded, and this fee will remain fixed in USDT even if the marketplace uses a different currency.
Furthermore, provider fees are not restricted to data consumption; they can also be utilized to charge for compute resources. For example, a provider can charge a fixed fee of 15 DAI to reserve compute resources for one hour. This presents an advantage for both the user and the provider host. Users can now reserve the appropriate amount of computing resources according to their requirements. For provider hosts, this creates an additional income opportunity.
Earn Rewards The Data Farming initiative is a key feature of Ocean Protocol that empowers participants to earn rewards while contributing to a decentralized data economy. By staking Ocean tokens and actively participating in data markets, users play a vital role in enhancing the availability and accessibility of valuable data assets
Through the Data Farming initiative, you are incentivized to lock Ocean tokens for veOcean. By staking your tokens, you not only support the growth and sustainability of the ecosystem but also earn a share of the generated incentives💰. The Data Farming initiative offers participants a unique opportunity to earn rewards while making a meaningful impact in the data marketplace.
Participating in the Data Farming initiative demonstrates a commitment to the principles of fairness, transparency, and collaboration that underpin Ocean Protocol. It allows you to actively engage with the ecosystem, promoting innovation, and driving the evolution of the decentralized data economy.
By participating in Ocean Data Challenges, you can tackle real-world problems, leverage data assets, and utilize the technologies within the Ocean ecosystem. Not only do you have the chance to compete for recognition and prizes, but you also contribute to driving innovation, fostering collaboration, and making a positive impact in the data space.
Become an Ambassador Becoming an Ocean Ambassador presents a unique opportunity to actively contribute to the growth and adoption of Ocean Protocol while being at the forefront of the decentralized data revolution.
As an Ocean Ambassador, you become an advocate for the protocol, promoting its vision of democratizing data and empowering individuals. By sharing your knowledge and enthusiasm, you can educate others about the benefits and potential of Ocean Protocol, inspiring them to join the ecosystem. As part of a global community of like-minded individuals, you gain access to exclusive resources, networking opportunities, and collaborations that further enhance your expertise in the data economy. As an Ambassador, you play a vital role in shaping the future of data by driving awareness, fostering innovation, and helping to build a more open and equitable data ecosystem.
Contribute to Ocean Code Development Make a positive impact in the Web3 data economy by contributing to Ocean's open source code on Github! From feature requests to pull requests, contributions of all kinds are appreciated.
To begin, visit our Github page where you can see the repos and contributors. If you're going to contribute code to a repo, then we ask that you fork the code first, make your changes, and then create a pull request for us to review. If you are reporting an issue, then please first search the existing issues to see if it is documented yet. If not, then please open a new issue by describe your problem as best as possible and include screenshots. We also welcome you to join our Discord developer community where you can get rapid, practical advice on using Ocean tech but also get to know Ocean core team more personally!
This is just the beginning of what Ocean Protocol has to offer. Join us as we explore, innovate, and push the boundaries of what's possible with decentralized data. Together, we can shape a future where data is accessible, secure and empowers individuals and organizations alike. Let's dive in and discover the endless possibilities of Ocean Protocol