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description: How is Ocean working?
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description: Learn the Web3 basics to understand Ocean Protocol tech
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# Engage
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# Engage
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As you embark on your journey to engage with Ocean, let's explore some fundamental concepts:
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You'll need to know a thing or two about **Web3** to fully understand Ocean Protocol's tech... Let's get started with the basics. 🧑🏫
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### 1. Understanding Blockchain: The Backbone of Ocean Protocol
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{% embed url="https://media.giphy.com/media/cu1HaFsymELztiENZk/giphy.gif" %}
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Prepare yourself, my friend
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{% embed url="https://media.giphy.com/media/bTrTnPMPq8UORCrBWG/giphy.gif" %}
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Blockchain
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{% endembed %}
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{% endembed %}
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Blockchain is a revolutionary technology that underpins the decentralized nature of Ocean Protocol. At its core, blockchain is a distributed ledger that securely records and verifies transactions across a network of computers. It operates on key concepts that ensure trust and immutability:
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### Blockchain: The backbone of Ocean Protocol
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Blockchain is a revolutionary technology that underpins the decentralized nature of Ocean Protocol. At its core, blockchain is a **distributed ledger** that securely **records and verifies transactions across a network of computers**. It operates on the following key concepts that ensure trust and immutability:
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* **Decentralization**: Blockchain eliminates the need for intermediaries by enabling a peer-to-peer network where transactions are validated collectively. This decentralized structure enhances transparency, reduces reliance on centralized authorities, and promotes a more inclusive and democratic data economy.
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* **Decentralization**: Blockchain eliminates the need for intermediaries by enabling a peer-to-peer network where transactions are validated collectively. This decentralized structure enhances transparency, reduces reliance on centralized authorities, and promotes a more inclusive and democratic data economy.
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* **Immutability**: Once a transaction is recorded on the blockchain, it becomes virtually impossible to alter or tamper with. The data is stored in blocks, which are cryptographically linked together, forming an unchangeable chain of information. Immutability ensures the integrity and reliability of data, providing a foundation of trust in the Ocean Protocol ecosystem.
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* **Immutability**: Once a transaction is recorded on the blockchain, it becomes virtually impossible to alter or tamper with. The data is stored in blocks, which are cryptographically linked together, forming an unchangeable chain of information. Immutability ensures the integrity and reliability of data, providing a foundation of trust in the Ocean Protocol ecosystem.
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By integrating blockchain technology, Ocean Protocol establishes a trusted and decentralized infrastructure for data exchange. It empowers individuals and organizations to securely share, monetize, and leverage data assets while maintaining control and privacy.
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By integrating blockchain technology, Ocean Protocol establishes a trusted and decentralized infrastructure for data exchange. It empowers individuals and organizations to securely share, monetize, and leverage data assets while maintaining control and privacy.
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### **OCEAN Tokens: Empowering Data Ownership and Monetization**
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Ocean tokens (**OCEAN**) are the native cryptocurrency of the Ocean Protocol ecosystem. They serve as the medium of exchange for data services, enabling data owners, consumers, and service providers to participate in the data economy. Here's how Ocean tokens are used within the ecosystem:
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### **2. Ocean Tokens: Empowering Data Ownership and Monetization**
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Ocean tokens (OCEAN) are the native cryptocurrency of the Ocean Protocol ecosystem. They serve as the medium of exchange for data services, enabling data owners, consumers, and service providers to participate in the data economy. Here's how Ocean tokens are used within the ecosystem:
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1. **Data Ownership**: Ocean tokens empower data owners by providing them with control over their data assets. Through the use of smart contracts, data owners can define access permissions, usage rights, and pricing terms for their data. By holding and staking Ocean tokens, data owners can maintain ownership and exercise greater control over their data assets.
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1. **Data Ownership**: Ocean tokens empower data owners by providing them with control over their data assets. Through the use of smart contracts, data owners can define access permissions, usage rights, and pricing terms for their data. By holding and staking Ocean tokens, data owners can maintain ownership and exercise greater control over their data assets.
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2. **Data Monetization**: Ocean tokens enable data owners to monetize their data assets. Data owners can set a price in Ocean tokens for accessing and utilizing their data. This creates opportunities for data owners to unlock value from their data assets by offering them for sale or licensing them to interested parties. The use of Ocean tokens ensures secure and transparent transactions, enabling data owners to be fairly compensated for their valuable data.
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2. **Data Monetization**: Ocean tokens enable data owners to monetize their data assets. Data owners can set a price in Ocean tokens for accessing and utilizing their data. This creates opportunities for data owners to unlock value from their data assets by offering them for sale or licensing them to interested parties. The use of Ocean tokens ensures secure and transparent transactions, enabling data owners to be fairly compensated for their valuable data.
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3. **Data Consumption**: Consumers of data services within the Ocean ecosystem utilize Ocean tokens to access and utilize data assets. By paying the required amount of Ocean tokens, consumers can obtain access to high-quality data, enabling them to enhance their research, analysis, and AI model training. Ocean tokens facilitate seamless and secure transactions between data providers and consumers, fostering a thriving data marketplace.
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3. **Data Consumption**: Consumers of data services within the Ocean ecosystem utilize Ocean tokens to access and utilize data assets. By paying the required amount of Ocean tokens, consumers can obtain access to high-quality data, enabling them to enhance their research, analysis, and AI model training. Ocean tokens facilitate seamless and secure transactions between data providers and consumers, fostering a thriving data marketplace.
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4. **Stake for veOcean and Curate Data sets**: Through the Data Farming initiative, you are incentivized to lock Ocean tokens for [veOcean](../rewards/veocean.md). By staking your tokens, you not only support the growth and sustainability of the ecosystem but also earn a share of the generated incentives💰. The Data Farming initiative offers participants a unique opportunity to earn [rewards](../rewards/) while making a meaningful impact in the data marketplace. 
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4. **Stake for veOcean and Curate Data sets**: Through the Data Farming initiative, you are incentivized to lock Ocean tokens for [veOCEAN](../rewards/veocean.md). By staking your tokens, you not only support the growth and sustainability of the ecosystem but also earn a share of the generated incentives💰. The Data Farming initiative offers participants a unique opportunity to earn [rewards](../rewards/) while making a meaningful impact in the data marketplace. 
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Get ready to engage with Ocean Protocol by understanding the key components required. Learn how to connect your web3 wallet, choose the appropriate network (mainnet or testnet), and interact with smart contracts to buy, sell, or trade data assets.
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Get ready to engage with Ocean Protocol by understanding the key components required. Learn how to connect your web3 wallet, choose the appropriate network (mainnet or testnet), and interact with smart contracts to buy, sell, or trade data assets.
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Let's embark on a journey of discovery and explore the possibilities that await you with Ocean Protocol! Get a glimpse into some of the things you can do - the opportunities with our protocol are vast and ever-evolving. Together, we can dive deeper and uncover even more ways to leverage the power of decentralized data. 
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Let's embark on a journey of discovery and explore the possibilities that await you with Ocean Protocol! Get a glimpse into some of the things you can do - the opportunities with our protocol are vast and ever-evolving. Together, we can dive deeper and uncover even more ways to leverage the power of decentralized data. 
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<figure><img src="../.gitbook/assets/penguin-diving (1).gif" alt=""><figcaption></figcaption></figure>
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<figure><img src="../.gitbook/assets/penguin-diving.gif" alt=""><figcaption></figcaption></figure>
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<details>
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<details>
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description: Fundamental knowledge of using ERC-20 crypto wallets.
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description: Fundamental knowledge of using ERC-20 crypto wallets.
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# Wallets 👛
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# Wallets
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Ocean Protocol users require an ERC-20 compatible wallet to manage their OCEAN and ETH tokens. In this guide, we will provide some recommendations for different wallet options.
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Ocean Protocol users require an ERC-20 compatible wallet to manage their OCEAN and ETH tokens. In this guide, we will provide some recommendations for different wallet options.
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{% embed url="https://media.giphy.com/media/X2xRGTElqdfry/giphy.gif" %}
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### What is a wallet?
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### What is a wallet?
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In the blockchain world, a wallet is a software program that stores private keys and allows users to interact with the blockchain network. Private keys are used to sign transactions and provide proof of ownership for the digital assets stored on the blockchain. Wallets can be used to send and receive digital currencies, view account balances, and monitor transaction history. There are several types of wallets, including desktop wallets, mobile wallets, hardware wallets, and web-based wallets. Each type of wallet has its own unique features, advantages, and security considerations.
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In the blockchain world, a wallet is a software program that stores cryptocurrencies secured by private keys to allow users to interact with the blockchain network. Private keys are used to sign transactions and provide proof of ownership for the digital assets stored on the blockchain. Wallets can be used to send and receive digital currencies, view account balances, and monitor transaction history. There are several types of wallets, including desktop wallets, mobile wallets, hardware wallets, and web-based wallets. Each type of wallet has its own unique features, advantages, and security considerations.
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### Recommendations
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### Recommendations
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