Ocean Protocol is a blockchain-based ecosystem that allows individuals and businesses to easily unlock the value of their data and monetize it through the use of ERC-20 based data tokens.
Through Ocean Protocol, publishers can monetize their data while preserving privacy and control, whereas consumers can now access datasets that were previously unavailable or difficult to find. These datasets can be discovered on the Ocean Market, where they can be purchased and later consumed or sold.
On Ocean Protocol, each data service is represented by a unique data token, which is used to wrap a dataset or compute-to-data service — this essentially allows third parties to perform operations on the data without it ever leaving the secure enclave of the publisher.
OCEAN is a utility token that is used for community governance and staking on data, in addition to buying and selling data as the basic unit of exchange on the Ocean Market. The price of these data tokens is set by an OCEAN-data token AMM pool, which adjusts the price of the data token as it is bought and sold based on supply and demand.