What is Ocean Protocol?
Ocean Protocol is a tokenized service layer that exposes data, storage, compute and algorithms for consumption with a set of deterministic proofs on availability and integrity that serve as verifiable service agreements. There is staking on services to signal quality, reputation and ward against Sybil Attacks.
Ocean helps to unlock data, particularly for AI. It is designed for scale and uses blockchain technology that allows data to be shared and sold in a safe, secure and transparent manner.
What problem does Ocean Protocol solve?
Ocean Protocol unlocks data so it can be used productively.
The world’s data is growing exponentially yet is massively under-utilized. Most companies have tremendous amounts of data, but have difficulty exploiting it. Conversely, many others are starving for data, particularly in AI. Ocean Protocol allows data providers to share data, while maintaining control and having transparency.
How does Ocean Protocol work?
Ocean Protocol is at once a business, technical, and governance framework that is interwoven together to allow data and services to be shared and sold, in a secure manner. Ocean Protocol stores metadata, links to data, provides a licensing framework and has toolsets for pricing. A multitude of data marketplaces can hook into Ocean Protocol to provide “last mile” services to connect data providers and consumers. Ocean Protocol is designed so that data owners cannot be locked-in to any single marketplace. The data owner controls each dataset.
Who are the main participants in Ocean Protocol?
The main actors in Ocean Protocol are data providers, data consumers, data marketplaces, service providers and network keepers. Data providers offer data. Data consumers obtain data for their own use. Data marketplaces connect data producers and data consumers. Service providers provision computation, storage and algorithms for sale. Network keepers support Ocean’s protocol by running nodes within the network. Please refer to our Marketplace Framework
for more details