Connect with us

Bitcoin News

Moonbeam and Ocean Protocol to bring a new data economy to Polkadot

Published

on

Moonbeam, an Ethereum-compatible smart contract platform on Polkadot, today announced its integration with Ocean Protocol, a data exchange protocol for the Web3 data economy. The Moonbeam and Ocean 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 web app 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 Moonbeam and Ocean Protocol 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 data tokens 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,” said Ocean Protocol co-founder Trent McConaghy.

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.” said Derek Yoo, PureStake CEO.

To start building on the Moonbeam TestNet, Moonbase Alpha, visit the official project documentation site or join the Discord server.

Source: moonbeam.network

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading
Advertisement
Advertisement

Recent Posts

Copyright © 2019 The Crypto Report