MoonBeam and Ocean projects will work closely to introduce a new data economy
By Inkarias - 2021-01-26
At the start of 2021, projects using the Ethereum blockchain as a work or operations support are numerous and constitute a variety of solutions offered to investors in an ever-expanding market. Among the entities established in this sector, the Moonbeam project, the Ethereum-compatible smart contract platform on Polkadot, shared its integration with Ocean Protocol, a data exchange protocol for the Web3 data economy well-known in the crypto market. Regarding this important announcement , Ocean Protocol co-founder Trent McConaghy stated:
“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,”
The first step planned at the start of this collaboration has been fully finalized with the deployment of smart contracts to MoonBeam. The entire initial integration will also involve bridging OCEAN token from Ethereum MainNet, and a new deployment of Ocean Market webapp components for Moonbeam. These first steps will bring a strong interoperability between networks, chains and allow various features to be deployed to satisfy the different communities of investors. Once these first milestones will be fully completed, all investors will have the possibility to use the solutions to publish data, stake on data, and buy data in the Polkadot ecosystem in an open, secure and safe way.
Derek Yoo, PureStake CEO added “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.”