Difference between revisions of "Ocean Protocol (OCEAN)"

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=== Bugs/Expliots ===
=== Bugs/Expliots ===


* Ocean Protocol patched (29-10-2022) an [http://insufficient%20function%20access%20vulnerability/ insufficient function access control vulnerability] thanks to a responsible disclosure by chiefdestroyer.eth.
* When [[KuCoin]] got [https://cointelegraph.com/news/freeze-pause-reboot-projects-react-differently-to-200m-kucoin-hack hacked] (28-9-2020), 21M tokens were frozen by Ocean Protocol team members. This hints to [[centralized]] powers. The project has since [https://blog.oceanprotocol.com/ocean-protocol-foundation-statement-regarding-kucoin-hack-c1af0aa0c36b announced] that it is initiating a [[hard fork]] of its [[contract]] to “reverse the ill-effects of the hack for anyone choosing to adopt the new version of the contract.”
* When [[KuCoin]] got [https://cointelegraph.com/news/freeze-pause-reboot-projects-react-differently-to-200m-kucoin-hack hacked] (28-9-2020), 21M tokens were frozen by Ocean Protocol team members. This hints to [[centralized]] powers. The project has since [https://blog.oceanprotocol.com/ocean-protocol-foundation-statement-regarding-kucoin-hack-c1af0aa0c36b announced] that it is initiating a [[hard fork]] of its [[contract]] to “reverse the ill-effects of the hack for anyone choosing to adopt the new version of the contract.”



Revision as of 02:51, 31 October 2022

 Basics

  • Founded in:
  • Mainnet release:
  • Based in: Singapore-based non-profit foundation
  • A decentralized data exchange protocol that unlocks data for AI use. 
  • From this article (3-10-2020): 

"Ocean provides reliable information for the construction, transfer, publication and its consumption through applications. Recently, Ocean partnered with one of the most important protocols on Ethereum’s DeFi, Balancer, to launch a marketplace, and with the German multinational Daimler AG, owner of Mercedes-Benz. Davis stated: Information is not only used for DeFi, Ocean goes further. This can bring a lot of value to various sectors. In particular, it can be used with information intensive industries such as artificial intelligence. Information may be the new oil."

History

Audits & Exploits

Bugs/Expliots

Governance

Admin Keys

DAO

Treasury

Token

Launch

Token allocation

Utility

Token Details

Stablecoin

Coin Distribution

Tech

Transaction Details

How it works

Fees

Upgrades

  • Ocean V3 has data tokens, incentives, staking, better composability with Ethereum and the emerging DeFi movement.

KuCoin Hard Fork

  • When KuCoin got hacked (28-9-2020), 21M tokens were frozen by Ocean Protocol team members. This hints to centralized powers. The project has since announced that it is initiating a hard fork of its contract to “reverse the ill-effects of the hack for anyone choosing to adopt the new version of the contract.”

Staking

Different Implementations

Interoperability

Other Details

Oracle Method

Privacy Method

Compliance

Their Other Projects

Roadmap

  • Can be found here (19-4-2020):

"Our whitepaper and July 2019 roadmap laid out our goals, implemented as versions V1-V5. The first three goals are about the functionality of Ocean Protocol:

(Goal 1 / V1) Build a decentralized data exchange foundation — to connect data owners and data consumers, without middlemen being able to see or control the data, via decentralized access control and data marketplaces.

(Goal 2 / V2) Compute-to-data to unlock private data while preserving privacy.

(Goal 3 / V3) Incentives to maximize the supply and sharing of data.

The last two goals are about a healthy, decentralized ecosystem:

(Goal 4 / V4) Community funding for development of core software, applications, and infrastructure; and a broad, diverse ecosystem of builders and partners. Projects are proposed and curated by the community with a steady stream of funding coming from the network reward. The network and protocol need to be self-sustaining over the long-term, without continued funding from the community or a central coordinating organization.

(Goal 5/ V5) Permissionless and censorship-resistant technology — it is self-evident that technology should not be monopolized by the few, while offering a level playing field for newcomers to bring innovation to the market."

Usage

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

  • When KuCoin got hacked (28-9-2020), 21M tokens were frozen by Ocean Protocol team members. This hints to centralized powers. The project has since announced that it is initiating a hard fork of its contract to “reverse the ill-effects of the hack for anyone choosing to adopt the new version of the contract.”

Team, Funding, Partners

Team

Funding

Partners