Ocean Protocol Technical Whitepaper

Credit: Nerivill@ Pixabay.com
“Where others have failed, I will not fail.” 
Jules Verne, Twenty Thousand Leagues Under the Sea

Today it is with great excitement that the Ocean Protocol team announces the release of the Ocean Protocol Technical Whitepaper! Ocean Protocol is a labor of love, blood, sweat, and tears. It encompasses the cumulative knowledge of multiple teams across multiple domains across multiple regions. It is a schelling point, influenced by tangible proficiency in diverse areas of expertise including data ecosystem architecture, blockchain implementation, cryptographic design, token mechanics, marketplace dynamics, game theory, and scalable, best-of-breed solution delivery. It is a framework that brings together services and capabilities to unlock data for AI.

The aim of Ocean Protocol is to equalize the opportunity for AI to access data. This will be facilitated via a protocol and network — a tokenized ecosystem — that incentivizes for availability of AI data and services. This network can be used as a foundational substrate to power a new ecosystem of data marketplaces, and more broadly, data sharing for the public good.

The Ocean Protocol network is composed of data assets and services. Assets are in the form of data and algorithms. Services are processing and persistence which leverage assets. The assets and services are the commodities made available for consumption via the network, similar to those found in any mature data ecosystem.

At its core, Ocean Protocol instantiates the goals of verification and virality via a new construction that we call a Proofed Curation Market (PCM). A PCM has two parts: predicted popularity of a dataset/service, and its actual popularity. The PCM construct is made up of:

  1. Cryptographic Proofs — Used to derive the actual popularity through the count of the number of times the dataset/service is delivered or made available.
  2. Curation Market — Used to derive the predicted popularity, acting as a proxy for relevance. The crowd knows much better than designers of Ocean whether a given dataset/service is relevant; so we harness the crowd via a curation market setting.

The Ocean Protocol team believes that PCMs will provide strong incentives to submit, refer, and make available (provably) relevant AI data and services, in turn driving both integration and utilization of the ecosystem.

For more information on Proofed Curation Markets and the rest of the Ocean Protocol substrate, please head to https://oceanprotocol.com/#papers.