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What is Ocean Protocol (OCEAN)?
Ocean Protocol (OCEAN) is the native ERC-20 token of the Ocean Protocol, a decentralized data exchange platform. It facilitates the secure and transparent sharing and monetization of data between data providers and consumers.
Key Features of Ocean Protocol
- Data Marketplace: Ocean Protocol offers a marketplace where data providers can tokenize their data sets and sell access to them, while data consumers can discover and purchase valuable data.
- Data Asset Tokenization: Data providers can convert their data into tradable ERC-20 tokens, enabling secure and controlled data sharing.
- Secure Computations: Ocean Protocol allows data to be used for computations without revealing the underlying raw data, protecting data privacy.
Uses of OCEAN Token
- Accessing and Sharing Data: OCEAN is used to pay for data access fees and other marketplace transactions on the Ocean Protocol platform.
- Staking (Potential Future): While not fully confirmed yet, staking OCEAN might offer rewards or benefits in the future