The Ocean Token Explained
The Ocean token is a means of exchange on the Ocean network. Last month, it hit a milestone by reaching a new time high – its price surpassed $1.
Where does the Ocean token find its use and where can you buy it? Let’s get straight to the point, shall we?
In this article, we’ll have our full attention on the Ocean token. If you need more information on the Ocean protocol project, bookmark the following links: The Ocean Protocol – All You Need to Know and OceanDAO – What is it?
The Ocean token was launched in November 2017. It’s also called a datatoken as it is used on a network that joins forces working towards unlocking data.
Why does data need to be unlocked? Today, data is over commercialized, getting locked by a handful of financial giants that use it for the ultimate business goal – making ridiculous amounts of money.
The Ocean Protocol network aims to decentralize the exchange of data. Its activities focus around unlocking data to use it in new ways. In order to do that, the Ocean project prioritizes the owners of data – individual and corporate – who should be able to control their valuable pieces of information.
The Uses of the Ocean Token
The Ocean token finds its primary use on the Data Ecosystem Platform and the Data Marketplace.
What the Data Ecosystem Platform does is facilitate data access control. In other words, it enables data owners to upload and store data, at the same time having complete control over their data when they monetize it for buyers.
By connecting sellers and buyers worldwide, the Data Marketplace facilitates the sale and purchase of data. Moreover, the Data Marketplace includes the Enterprise Marketplace, designed for corporate level data providers, and the Community Marketplace aimed at a wider target audience.
Furthermore, the Ocean token also successfully finds its use in the automotive and the healthcare industry. The latter helps datatokens fulfill their potential as the healthcare industry assumes storing and analyzing enormous amounts of data – which the Ocean Protocol enables to share in a discrete and safe manner.
Where to Buy
The Ocean Protocol will continue its expansion as an innovative and highly discrete ecosystem. Becoming a holder of the Ocean token now and not crying later might be a good idea. How to buy the Ocean Protocol? Find everything you need to know in our recent article.
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