Moonbeam Will Link Ocean Protocol and Polkadot

2021-1-26 23:42

Moonbeam, a Polkadot-based smart contract platform, has announced that it is integrating with the decentralized data marketplace Ocean Protocol.

Bridging Ocean and Polkadot

Once complete, the integration will allow users of the Polkadot blockchain to publish, stake, and buy data. It will also bridge the Ethereum-based OCEAN token to the platform.

“We have long envisioned Ocean to be a data asset layer across many blockchain networks,” Ocean Protocol co-founder Trent McConaghy stated in the project’s press release. “Polkadot is all about interoperability among these networks.”

So far, the two teams have completed the first stage of porting Ocean contracts into Moonbeam.

“Since Ocean deployed initially to Ethereum mainnet, then the clear starting point for Ocean in Polkadot is Moonbeam with its Ethereum compatibility,” McConaghy added.

Moonbeam and Interoperability

Moonbeam first went live last November. Developers can use Moonbase Alpha to deploy smart contracts on Polkadot.

Data marketplaces like those provided by Ocean Protocol are useful in various sectors, including scientific research and AI development. Polkadot, meanwhile, gives developers and projects a way to create their own blockchain-like “parachain” with little effort.

As participation grows, interoperability between each effort will become valuable—something that Moonbeam can help with.

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