Ocean Protocol and Moonbeam Partner to Bring a New Data Economy to the Polkadot Ecosystem
The integration will bridge the Ocean token from the Ethereum mainnet and see a new deployment of Ocean Market components for Moonbeam
(This partnership was originally announced on January 25, 2021.)
Ocean Protocol, the data exchange protocol for the Web3 data economy, announced its integration with Moonbeam, an Ethereum-compatible smart contract platform on Polkadot.
The Ocean and Moonbeam teams have completed the first part of an initial integration: a successful deployment of Ocean’s contracts to Moonbeam. The full initial integration will also involve bridging OCEAN token from Ethereum Mainnet, and a new deployment of Ocean Market webapp components for Moonbeam. Once complete, this will enable users to publish data, stake on data, and buy data in the Polkadot ecosystem in an open, secure fashion.
The partnership between Ocean Protocol and Moonbeam will lead to additional updates. For example, assets from both Ethereum Mainnet and Moonbeam will be viewable side-by-side in the Ocean Market. Further data privacy-enhancing features will be rolled out. And over time, there will be ways to bridge datatokens themselves across networks and to share liquidity.
It’s our pleasure to work with the Moonbeam team to start engaging with the Polkadot ecosystem. We have long envisioned Ocean to be a data asset layer across many blockchain networks. Polkadot is all about interoperability among these networks. Since Ocean deployed initially to Ethereum Mainnet, then the clear starting point for Ocean in Polkadot is Moonbeam with its Ethereum compatibility.
– Trent McConaghy, Ocean Protocol Co-Founder
The Moonbeam team is continuously working to simplify the implementation process for Ethereum developers who want to expand to Polkadot. Ocean Protocol chose Moonbeam as its expansion point because of its unmatched compatibility. Now, the Ocean team can use its existing Ethereum smart contracts to access the new and growing Polkadot ecosystem.
We’re excited to work with the Ocean team on their first expansion outside of Ethereum. By deploying to Moonbeam, Ocean Protocol will provide the Polkadot ecosystem with access to a robust Web3-based data marketplace. Our partnership will enable privacy-preserving data for use cases that avoid centralized data concentration and abuse.
– Derek Yoo, PureStake CEO
To start building on the Moonbeam TestNet, Moonbase Alpha, visit the official project documentation site or join their Discord server.
About Ocean Protocol
Ocean Protocol’s mission is to kickstart a Web3 Data Economy that reaches the world, giving power back to data owners and enabling people to capture value from data to better our world.
Data is a new asset class; Ocean Protocol unlocks its value. Data owners and consumers use the Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion.
Ocean datatokens turn data into data assets. This enables data wallets, data exchanges, and data co-ops by leveraging crypto wallets, exchanges, and other DeFi tools. Projects use Ocean libraries and OCEAN in their own apps to help drive the Web3 Data Economy.
The Ocean token is used to stake on data, to govern Ocean Protocol’s community funding, and to buy & sell data. Its supply is disbursed over time to drive near-term growth and long-term sustainability. OCEAN is designed to increase with a rise in usage volume.
Visit oceanprotocol.com to find out more.
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About the Moonbeam Network
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. As a parachain on the Polkadot network, Moonbeam will benefit from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot. Currently, in active development by PureStake, Moonbeam is expected to reach MainNet by mid-2021.
Learn more: moonbeam.network
About PureStake
PureStake’s team has extensive experience building technology companies and complex software platforms. Led by Derek Yoo, former Fuze Founder, and CTO, PureStake provides protocol implementation services and creates developer tools for next-generation blockchain networks.
Learn more: purestake.com
