Ocean brings web3 data economy tools to Polygon Network

CryptoNinjas » Ocean brings web3 data economy tools to Polygon Network

Ocean, a decentralized data and AI sharing service, today announced it has partnered with Polygon (formerly Matic) to bring web3 data economy tools to its chain and ecosystem

Polygon has seen widespread adoption with over 90 dApps, 7 million transactions, and 200,000 unique users, enabling high-quality user experiences for top dApps like Polymarket, Aavegotchi, Decentral Games, and Neon District. Polygon also offers a strong alternative to the high gas fees on Ethereum, meeting a key goal for Q1 in Ocean’s 2021 roadmap.

“Polygon has a long history of collaboration with the Ethereum ecosystem with an eye towards scaling and security. The Polygon team has developed a first-class platform for running EVM-based contracts and bridging across chains. It’s our pleasure to leverage Polygon so that our users benefit from far lower gas costs in Ocean Market and in other emerging dApps and protocols that use Ocean.”
– Ocean Founder Trent McConaghy

Deployment of Ocean on Polygon

  • Use Ocean Market to publish, swap, stake, and consume data assets in Polygon. Transactions now cost mere cents with lower latency. Users simply point their wallet in Metamask to Polygon, and Ocean Market will show data assets registered in the Polygon network.
  • Data marketplace builders and other dApp developers can use Ocean libraries (ocean.js, ocean.py) and frontend components (react hooks, market) with Polygon.
  • Token holders can move their OCEAN to Polygon as mOCEAN tokens and back.

Ocean components supported in Polygon include: Ocean smart contracts, Ocean Market, mOCEAN smart contract, OCEAN-mOCEAN bridge, Provider (for data services), Aquarius (metadata cache), and Ocean Subgraph (The Graph queries).

Cross-Chain

The Ocean Protocol deployment to Ethereum mainnet, and related services, including Ocean Market, will continue as before.

Prior to Polygon, Ocean Protocol was deployed on Ethereum Mainnet, Rinkeby, Ropsten, and Ganache. An Ocean Market user could change the network by pointing their wallet (e.g. Metamask) to a different network, and Ocean Market would show data assets that are on that network. Ocean.js and ocean.py drivers are similar; the dApp developer simply specifies the “network” URL. It’s the same for Polygon.

Polygon is the first network beyond Ethereum mainnet that isn’t a testnet, where tokens on the network have a real value associated, so token bridges across networks have been built.

  • OCEAN on Ethereum mainnet gets bridged across as mOCEAN on Polygon.
  • ETH for gas fees on Ethereum mainnet corresponds to MATIC for gas fees on Polygon.
  • ETH on Ethereum mainnet gets bridged across as mETH on Polygon, though you won’t need mETH for Ocean Market.

“We’re thrilled to have Ocean Protocol and their revolutionary data marketplace on Polygon. The Ocean Market will allow dApps to build powerful marketplace-powered applications, leveraging the power of data and Polygon-grade transactions. We’re excited to see what devs build!”
– Sandeep Nailwal, Co-Founder and COO of Polygon

CryptoNinjas » Ocean brings web3 data economy tools to Polygon Network

Original Article