What is OCEAN?
OCEAN is the native token of the Ocean network. Ocean is a decentralised data protocol that aims to create a public utility for connecting users, researchers and professionals with relevant data. Ocean protocol achieves this through the use of data marketplaces that allow users to buy and sell data and data privacy zones that allow users to submit algorithms to be used with private data. The algorithm can use the data, and report back to the user with the findings, all whilst keeping the data private. This allows for the utilisation of the vast amounts of private data without compromising the privacy of the data. Ocean’s consensus mechanism is called Proof-of-Authority. Ocean’s native token, OCEAN, is used as the unit of exchange for buying and selling data on the Ocean network. Ocean tokens are used to incentivise users to provide data, curating data, creating data marketplaces and becoming a network keeper to provide validation and verification services to the network.