Ocean Token

What is OCEAN and how Does It Work?

OCEAN is the token affiliated with Ocean Protocol, an innovative decentralized data exchange protocol offering a platform for you to interact with data assets. Leveraging smart contracts on Ethereum, it supports a range of networks and focuses on designing easy-to-use interfaces and enabling interoperability across different platforms. Distinguishing attributes include permissions that permit detailed control over data access. It underscores the importance of data owner control and boosts privacy for transactions in the data marketplace. The shift of Ocean Protocol to ERC721 for data NFTs and tokens in the Ocean V4 signifies an enhanced capability for data interaction. Recognizing the need for privacy-protected transactions that adhere to data protection regulations, this aspect offers data providers and consumers involved security components when handling sensitive data. For those drawn to supporting the data economy, Ocean Data Farming might be of interest as a plan to boost data provision. A community-influenced grant system, OceanDAO, has been launched for encouraging suggestions and voting for projects competing for funding, promoting cooperative data management solutions.

The Vision and Mission Behind OCEAN

The Ocean Protocol ensemble comprises specialists in fields such as large-scale data analysis, distributed ledger technology, and machine intelligence, as well as substantial practical business experience. Their goal is to augment data utilization in the DeFi context and enable more effective usage of data for vital decision making processes. This endeavor engages not just the primary team members, but also advisors and contributors of diverse talents. The workings of Ocean Protocol revolve around data tokens and compute data, these are integrated components of the ecosystem that by their nature, facilitate its functions. Furthermore, the protocol fosters an environment that promotes collaboration in the machine intelligence and data industry, providing a platform that enables streamlined and proficient use of data.

How to Buy and Store OCEAN?

To purchase OCEAN, Flooz.xyz offers a streamlined process. Flooz.xyz offers a one-stop solution to buy this token, using a smooth checkout, without the need to own a wallet. Tap tap go! All payment methods are supported. Using Flooz self-custodial web wallet, you ensure seamless OCEAN transactions, including storing, sending, and receiving tokens. You can create a self-custodial wallet directly on Flooz using your email, Google, and Apple ID in a matter of seconds. This also ensures that you have access over your funds at all times, thanks to the power of cryptography. Flooz.xyz aggregates more than 50+ providers to ensure you with the fastest and cheapest payment routes for your trades. This seamless and optimized trading experience has captivated over 85,000 active traders on Flooz.xyz. So, skip the hassle and take advantage of the all-in-one solution that Flooz.xyz offers to buy OCEAN.

OCEAN Metrics:

• Current price: $0.6947

• Market cap: $752.87 M

• All-time high: $1.93 (Apr 10, 2021)

• All-time low: $0.01 (Aug 11, 2019)

• Daily trading volume: $196.79 k

Exploring OCEAN Financial Mechanics

The OCEAN ecosystem accommodates a variety of software enhancement toolkits and applications. Developers can leverage platforms such as Ocean lib:JavaScript and Ocean lib:Python for easier integration and improvement. Inside this ecosystem, data assets develop a digital identity in the form of data tokens, prepared for transfer, purchase, or sale on the Ocean Market. As data owners, users establish prices and determine licensing terms. This creates opportunities for potential consumers to locate and purchase accessible data assets directly using OCEAN tokens. Those participating in the Ocean Protocol ecosystem can explore diverse incentives. Benefiting from technological aspects like fractional ownership, the protocol facilitates processes like metadata labeling, access control, and data NFT creation. It incorporates collaborations with external projects, including Protocol, Melon Protocol, and MOBI, to broaden its range of influence. Progression through Ocean Protocol's development roadmap could enhance visibility and flexibility in data utility practices. The central focus of the protocol is on facilitating data sharing while ensuring safety and privacy. Inspired creation of data marketplaces and the provision of Compute Data are encouraged on the platform. It explores applications across various sectors like mobility, health, logistics, and DeFi. Data fluidity and the potential monetization are aspects facilitated by the protocol, featuring role-based access control and referral processes. Control and possible monetization of data access, and the protection of enterprise data assets, are realized using tools available on the platform. Ocean Protocol has several offerings around data custody and decentralized exchange mechanisms, hosting facilities for queries, and emphasizing data's traceability and origin. The tools provided by the protocol could be suitable for decentralized orchestration and privacy-preserving processes. Purchase and disposal of data assets can transpire on both centralized and decentralized exchanges. The Ocean Market serves as an open-source community marketplace for data, supplemented by developer tools. With the Ocean Protocol, metadata advertising, storage, and retrieval are possible, and participants can discover some level of incentivization for Data Farming. The protocol's structure includes an element of incentive for holders who protect their OCEAN tokens and engage with data assets, while the federated analytics approach is aimed at consolidation across data silos. Different subsets compose the Ocean System, such as Ocean Workers, Data Ecosystem, and Marketplaces, providing tools for chain annotations metadata, and facilitation of smart contract deployment.

Advanced Insights: Mining and Ecosystem

The OCEAN token deals with token mining and the larger ecosystem. It brings in specific token technologies such as Non-Fungible tokens (NFTs) and token engineering. Within the OCEAN ecosystem, NFTs serve a key role, enabling unique tokenization and subjective ownership rights. This makes them quite advantageous in areas like digital artwork, real estate, and collectibles. Considering these applicable technologies, OCEAN gives individuals unique avenues. Token engineering is another important part of the OCEAN token, allowing the development, assessment, and imitation of tokenized ecosystems. This shifts from traditional approaches and underlines the explicit nature of the OCEAN token in the token world.