OCEAN is an ERC-20 payment token and functions as the Ocean Protocol’s native token, allowing users to buy and sell “datatokens”, participate in governance, or stake in the Ocean Market.
“Data is king” has been the anthem of the internet age, yet many of the processes by which data is harnessed and its value maximized have yet to be fully formulated. Enter Ocean Protocol, established in 2017 by a team with extensive experience in Artificial Intelligence (AI), as a decentralized data marketplace built on the Ethereum blockchain. Notably, Ocean offers a unique proposition for industries like AI that depend heavily on data.
Connecting data providers and data consumers, the project seeks to give anyone the opportunity to access and monetize data through the development of the Ocean Market, an open source marketplace where participants can buy and sell data with the Ocean token (OCEAN). Users that stake OCEAN can also earn additional rewards from transaction fees.
What is OCEAN?
OCEAN is an ERC-20 payment token and functions as the Ocean Protocol’s native token and is used for community governance as well as for staking on data.
It is used to purchase “datatokens”, which are critical to the functionality of the Ocean Protocol marketplace. By purchasing a particular data token on the Ocean marketplace, users gain access to certain datasets and services.
How to buy Ocean Protocol (OCEAN) on Binance.US
Trade Ocean Protocol (OCEAN) on the OCEAN/USD and OCEAN/USDT pairs.
Buy Ocean Protocol (OCEAN) with Bank Transfer (ACH), Debit Card, or Wire Transfer.
Deposits and withdrawals are now open for OCEAN*.
*Please note that Binance.US only supports Ethereum (ERC20) OCEAN deposits and withdrawals at this time. We will be unable to recover tokens sent to the wrong network address. For more information on the networks that Binance.US supports, consult our full list of supported assets and networks.
Note: This article was last updated on May 12, 2022. Deposits for OCEAN first opened on May 11, 2022 at 5 a.m. PDT / 8 a.m. EDT. Trading opened 24 hours later, along with the "Buy Crypto" functionality.
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