Ocean Protocol is a decentralized data exchange protocol to share and monetize data in a secure, transparent, and privacy-preserving manner. Powered by blockchain technology, it uses smart contracts to automate data exchange between buyers and sellers.

The platform lets data providers publish and share their data with others while maintaining control over their data and determining who has access to it. Ocean Protocol allows data buyers to search for and purchase data from a wide range of sources and be confident in the quality and provenance of the data they acquire.

Ocean Protocol seeks to propel the data economy in the web3 realm by providing a comprehensive set of tools for publishing and utilizing data services, catering to data scientists and AI professionals. The Ocean Marketplace enables users to trade data using an interoperable format of ERC-721 non-fungible tokens (NFTs) and ERC-20 datatokens in a decentralized fashion.

OCEAN, an ERC-20 token on Ethereum, is the Ocean Protocols utility token, facilitating data purchase and sale. Additionally, it can be staked on data for curation purposes, allowing holders to earn rewards from the protocol.

Ocean Protocol provides data scientists and AI professionals access to data in a tamper-proof, immutable, decentralized, and cryptographically secure way on the blockchain. Additionally, they can access data and AI training protected by cryptography and generate income by selling and curating data within the platform.

Data providers upload their data to the Ocean network and specify the terms of use, including the price and access restrictions. Buyers search for and discover relevant data on the network using various tools and algorithms. Once buyers find data they want to purchase, they can initiate a smart contract specifying the purchase terms, including the price and access restrictions.

The smart contract then executes, and the buyer pays the data provider in the form of Ocean tokens, which are the native currency of the network. The data is then transferred securely and privately from the provider to the buyer using encryption and other privacy-preserving techniques. The transaction is recorded on the Ocean blockchain, ensuring transparency and immutability of the transaction history.

Advanced users can also utilize the Ocean Protocols open-source code to create their own data marketplace or develop components within the Ocean ecosystem. Lastly, the platform incorporates a DeFi aspect where datatokens and data NFTs can be stored in crypto wallets, traded on exchanges, used in DAOs, and more.

The origin of Ocean Protocol dates back to November 2017, when the OCEAN token seed distribution was fixed, along with the technical primer and framework for the Ocean Marketplace. The team of developers released the whitepaper for the project in February 2018.

Oceans PoC data marketplace and testnet were released in August 2018, followed by the launch of Ocean Protocols v1 Alpha in December. The v1 Beta network was deployed in April 2019, with the core functionality for decentralized access control.

The Ocean Protocol POA mainnet launch took place in Q3 2019 and established a token bridge between Ethereum mainnet and the Ocean network. The beta version of Oceans decentralized, non-custodial data marketplace occurred in Q1 2020. The v2 launch in the next quarter brought Compute-to-Data capabilities to the protocol.

Ocean v3 rolled out the concept of ERC-20 datatokens for access control and launched the Ocean Market. The OceanDAO was established in December 2020.

Ocean Protocol expanded beyond Ethereum to the Polygon ecosystem in Q1 2021, bringing down transaction costs. Ocean Market supported trading private data while preserving privacy starting in the same quarter.

In Q3 and Q4 of 2021, Ocean expanded to more blockchain ecosystems, such as BSC, Moonriver, and Energy Web Chain. In 2022, Ocean Protocol launched Data NFTs for more monetization opportunities, H2O - a non-pegged stable asset backed by OCEAN, data farming, and veOCEAN staking.

Ocean Protocol (OCEAN) is listed on numerous leading cryptocurrency and decentralized exchanges worldwide. BYDFi is one of the most user-friendly platforms for purchasing $OCEAN crypto. If you want to get started, our guide offers insights on buying OCEAN token securely and quickly on BYDFi.

Considering its potential for mainstream adoption and the prospects of DeFi and web3, the $OCEAN token is a worthwhile investment. You can purchase and stake OCEAN to generate passive income and expand your crypto portfolio, making it a versatile investment. The increased on-chain activity and demand for the OCEAN token on the Ocean Marketplace may contribute to an uptrend in the $OCEAN price.

Additionally, the OCEAN crypto provides opportunities for active engagement in the DeFi market and participation in Ocean Protocol's decentralized governance mechanisms.

Offering an accurate Ocean Protocol price prediction is impossible due to the unpredictable and volatile nature of the crypto market. The $100 mark seems unreasonably high for the $OCEAN price, considering the high total supply and circulating supply of OCEAN tokens. While supporting factors could take the OCEAN price to its all-time high, reaching $100 would require a significant reduction in the supply of OCEAN tokens.

The $OCEAN token has several critical use cases:

• Native Currency: OCEAN tokens are used as a means of payment for data services and transactions on the Ocean Protocol network.
• Incentive Token: $OCEAN incentivizes data providers to contribute data to the network, increasing the amount and quality of available data.
• Staking: Token holders can stake $OCEAN to provide liquidity for data marketplaces on the network and incentivize network participants.
• Governance Token: OCEAN token holders can participate in the governance of the network by voting on proposals and decisions.
• Crypto Asset: You can trade OCEAN against other crypto assets or hold it for long-term potential. Additionally, you can earn passive income by lending liquidity in OCEAN on BYDFi.

You can earn on the Ocean Protocol through various methods:

• Data Provider: Share valuable data and earn OCEAN tokens by selling it to consumers on the network.
• Data Consumer: Purchase data for your business or research and earn OCEAN tokens by providing valuable feedback.
• Validator: Help secure and maintain the network by validating transactions and earn OCEAN tokens as a reward.
• Staker: Stake OCEAN tokens to provide liquidity and support for data marketplaces on the network.
• Developer: Contribute to the development of the Ocean Protocol network and earn OCEAN tokens for your contributions.

To stake $OCEAN on datasets in Ocean Market and earn rewards from swap fees, follow these steps:

1. Visit the Ocean Market dApp and connect your wallet.
2. Ensure your wallet is funded with OCEAN tokens.
3. Browse available datasets and select one to stake.
4. Review liquidity statistics in the Pool tab.
5. Click Add Liquidity and enter the number of OCEAN tokens you wish to stake.
6. Confirm the transaction by clicking Approve & Supply.
7. Earn rewards and grow your crypto portfolio by staking $OCEAN on the Ocean Market.

You can also lock your OCEAN tokens on Ocean Farm to get veOCEAN and earn higher passive income.