The blockchain is revolutionizing the world. With cryptocurrency, it’s no longer just the banking system that’s being disrupted. The blockchain has also made waves in the gaming industry with crypto-based games like CryptoKitties or Gods Unchained. With its increasing popularity, there are new tokens and currencies popping up every day.
If you’re familiar with Bitcoin, Ethereum and other cryptocurrencies, you might be interested in the newest blockchain project: OCEAN.
Ocean Protocol – The Future of Data?
OCEAN is an open-source, EVM-compatible blockchain protocol for high-performance decentralized applications. It provides the best throughput and lowest latency for Web3 DApps, while still maintaining decentralization and security.
OCEAN protocol provides data sets to startups and researchers, and token holders are able to directly participate in this economy by staking their tokens.
The project was started in 2017, and it is an open-source protocol based on the Ethereum blockchain.
At time of writing, Ocean Protocol (OCEAN) was trading at US$ 0.958 per token, up 23.5 percent over the last 24 hours. The OCEAN cryptocurrency’s one-day volume reached $199.4 million, up 600 per cent over the last day, and its market cap increased 24.5 per cent over the same period.
Ocean Crypto Protocol Explained: Is It Worth Your Time And Money?
In Ocean Protocol, users can unlock the potential of their data and monetize it using ERC-20 tokens.
Founded in 2017, Ocean Protocol is an open-source protocol built on the Ethereum blockchain. Ocean Protocol’s founding team wanted to provide the tools necessary to build a Web3 economy.
It is Ocean’s goal to make data sets available on its platform by using datatokens to grant access to the sets of data. Notably, users can redeem the tokens for access to the information.
With Ocean Protocol, startups and researchers can get access to data sets. The project’s native utility token is OCEAN crypto, with several use cases including validating the best data tokens and offering users a way to participate in the project’s decisions.
Privacy is the focus of the project, which connects data providers with startups requiring data to power their Web3 applications.
Stakeholders of the OCEAN crypto can participate directly in the datatoken economy by becoming liquidity providers and earning from transaction fees generated by the pool.
To purchase this cryptocurrency, interested investors can visit cryptocurrency exchanges such as Binance, Bitget, and CoinTiger.
Should You Buy the OCEAN Protocol Cryptocurrency?
As Web3 will break the monopoly of big tech companies and provide increased privacy and security to data, it is believed to be the future of the Web.
By the end of 2022, the Ocean Protocol cryptocurrency could surpass its all-time high of US$ 1.93 per token, as it is related to Web3. OCEAN crypto rose 140 per cent in the last year, and it might surpass its all-time high of US$ 1.93 per token by then.
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Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
