Ocean Protocol Smart Contracts and Ocean Market Now Live on Optimism

Ocean Protocol, the open-source tooling for building next-generation decentralized applications, continues in its multi-chain strategy and is now live on the Optimism network.

Optimism is the fast, stable, and scalable L2 blockchain built by Ethereum developers that has rapidly gained traction in the decentralized finance, SocialFi and consumer dApps space. Optimism has shown impressive growth with a substantial number of dApps, transactions, and unique addresses.

Optimism’s EVM Compatibility and Benefits

Optimism is Ethereum Virtual Machine (EVM)-compatible, allowing it to run Ethereum smart contracts and use ERC-20 tokens. As a Layer 2 solution, it operates with lower gas fees and reduced latency compared to the Ethereum mainnet. This scalability solution enhances user experience while maintaining security and decentralization.

Ocean Protocol on Optimism: Key Features

The deployment of Ocean Protocol on Optimism includes:

• Ocean Market on Optimism: Users can now publish and consume data assets on Optimism. By pointing their wallet to the Optimism network, users can interact with data assets registered on Optimism.
• Developer tools: dApps builders can use Ocean.js to build dApps on the Optimism network.
• Supported components: The Ocean smart contracts, Ocean Market, Ocean Provider, Aquarius, and Subgraph are all fully supported on the Optimism network.
• Token bridging: OCEAN tokens on Ethereum mainnet can be bridge to the Optimism network and vice versa.

Ocean tokens can be bridged here. The official Ocean contract on Optimism is here.

Key Benefits for the Optimism Community

There are several benefits for dApp developers who are building on Optimism to integrate Ocean Protocol’s smart contracts:

• New data sharing and monetization opportunities: Ocean is completely open-source and freely available under the Apache 2 license. It is primarily focused on tokenizing and monetizing data, but it can actually handle the sale of any digital asset. This means that developers can fork it and set up tokengated dApps or marketplaces in just a few steps. Learn what you can build with Ocean here.
• Innovative solutions for dApps: Ocean.js enables developers to
• Publish data services: downloadable files or compute-to-data. Create an ERC721 data NFT for each service, and ERC20 datatoken for access (1.0 datatokens to access).
• Sell datatokens for a fixed price. Sell data NFTs.
• Transfer data NFTs & datatokens.

This has many applications, from decentralized marketplaces to peer-to-peer platforms and AI-generated art. For more inspiration, you can check out these examples.

• Powerful new tools for blockchain developers
• Faster data retrieval and more efficient access to information related to datatokens, users, and balances through Ocean Subgraph, an off-chain service that utilizes GraphQL
• More efficient ways to query, track, and cache the metadata generated on-chain, by using Aquarius, especially useful for search features within dApps.

The collaboration between Ocean Protocol and Optimism Mainnet is a significant step forward for the data science & developer community looking to build efficient, user-friendly, and accessible data & AI dApps — and it represents a tangible move towards a future where consumer dApps are not just a niche market but an integral part of everyday life.

About Ocean Protocol

Ocean Protocol is a decentralized data-sharing ecosystem spearheading the movement to unlock a New Data Economy, break down data silos, and open access to quality data. Ocean’s intuitive marketplace technology allows data to be published, discovered, and consumed in a secure, privacy-preserving manner by giving power back to data owners, Ocean resolves the tradeoff between using private data and the risks of exposing it.

About Optimism

Optimism is a fast, stable, and scalable L2 blockchain built by Ethereum developers, for Ethereum developers and an experiment in sustainable ecosystem funding fueled by protocol revenue. Built as a minimal extension to existing Ethereum software, OP Mainnet’s EVM-equivalent architecture scales any Ethereum dApps without surprises.