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Co-authored-by: Matthias Kretschmann <m@kretschmann.io>
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Introduction Ocean Protocol - Tools for the Web3 Data Economy

In Ocean Protocol, each data service gets its own ERC20 datatoken. This enables data wallets, data exchanges, and data co-ops by directly leveraging crypto wallets, exchanges, and more.

OCEAN token is used for staking, and more. Here are details.

Ocean Protocol provides tools for developers to build data markets, and to manage datatokens for use in DeFi.

Build Data Markets. Use Ocean Protocol software tools to build your own data marketplace, by either forking Ocean Market code or building up with Ocean components.

Manage Datatokens for use in DeFi. Use Ocean JavaScript or Python drivers to manage datatokens:

  • Publish and consume data services: downloadable files or compute-to-data. Use Ocean to deploy a new ERC20 datatoken contract for each data service, then mint datatokens.

  • Transfer datatokens to another owner (or approve & transferFrom).

  • Manage pools. Deploy OCEAN-datatoken Balancer pools, buy & sell datatokens (swap), and add & remove liquidity.

  • And more. Use ERC20 support in web3.js, web3.py and Solidity to connect datatokens with crypto wallets and other DeFi services.