Cryptocurrency Q&A
Is Ocean Protocol on Ethereum?
Is Ocean Protocol on Ethereum?
Dario
Sat Jun 29 2024
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5 answers
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Could you please clarify if Ocean Protocol is indeed built on the Ethereum blockchain? I've heard various discussions about its potential interoperability with other networks, but the initial implementation seems to have a close connection with Ethereum. Is there a specific reason for this choice, given Ethereum's current dominance in the decentralized finance space? Are there any plans to migrate or expand Ocean Protocol's functionality to other blockchains in the future? Understanding its current status and potential roadmap in this regard would be invaluable.
5 answers
ethan_lewis_journalist
Sun Jun 30 2024
The ERC-20 tokens created from datasets and services can be traded, exchanged, or utilized in various ways, thus promoting liquidity and usage of data.
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SkylitEnchantment
Sun Jun 30 2024
Ocean Protocol is a framework that hinges on the tokenization of data as its foundational principle.
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DigitalTreasureHunter
Sun Jun 30 2024
Within the Ocean Protocol ecosystem, datasets and various data services are transformed into ERC-20 assets.
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isabella_taylor_activist
Sun Jun 30 2024
These ERC-20 assets are digital representations of value that reside securely on the Ethereum blockchain.
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Maria
Sun Jun 30 2024
Tokenization of data on Ocean Protocol allows for novel monetization models and incentives for data providers.
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