A few hours remain until the beginning of public Ocean Protocol sales
A few hours remain until the beginning of public Ocean Protocol sales. The crowdsale mechanism is being tested on the CoinList at the moment.
What is Ocean token and how it works?
OCEAN tokens — tokens that provide a discount on all fees on Ocean platform. Keep reading for more details on new token.
- TOKEN SALE: 6 MAR – 20 MAR
- Ticker: OCEAN
- Token type: ERC20 ICO
- Token Price: 1 OCEAN = 0.25 USD (0.22000000 EURO)
- Fundraising Goal: 32,800,000 USD (29,000,000 EURO)
- Total Tokens: 1,410,000,000
- Available for Token Sale: 2.66 (TOTAL 15)%
- Сan't participate: CHINA
- Accepts: ETH, BTC, USD, EUR
Ocean is a decentralized protocol and data (services) network for AI. It aims to integrate the AI's features by unlocking the data and keeping the privacy intact. The protocol will assist marketplaces to trade data & services, software for access and publishing regular data, and data analysis tools.
Network features & internal tools:
- Proof-of-service. The network will have incentives for data sharing. In particular, Ocean motivates its users to refer to and provide quality data & AI services.
- Network development. Ocean Protocol focuses on the ecosystem's growth. A portion of the network's rewards will be spent on this.
- A protocol as a network between services. There will be suppliers for data, algorithms, storage, etc. Each of them can be centralized behind a firewall, centralized in a cloud (e.g., AWS S3, or EC2), or fully decentralized (for instance FileCoin, or Golem & Enigma).
- Decentralized federated learning. Keeps track of the privacy attacks' vectors, enhances control and guarantees 'service agreement' execution.
- Data science tools is a protocol interface used by AI researchers and data scientists. Written in Python, these tools and libraries provide a high-level API that allows integrating the protocol features into various computation conveyors.
- Aquarius is a Python backend app, which enables metadata management. It isolates access to various metadata storages, allowing Aquarius to integrate different metadata storages.
- Ocean helps to make data accessible for AI while retaining control of it via decentralized service agreements, which provide computation for data.
- Ocean has a network reward to stimulate the provision of data and public services.
- Ocean uses bonuses for continuous financing of improvements for the network and the community.
The project looks open in terms of development, and it is legally compliant. However, there are some risks of participation in the main sale that are related to drastic changes in the rates and lock-ups for participants on different stages of fundraising.