Moonbeam, an Ethereum-compatible smart contract platform on Polkadot, today announced the 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 also includes bridging the OCEAN token from Ethereum MainNet and a new deployment of Ocean Market web application components for Moonbeam. Once complete, users can publish data, retrieve data, and purchase data in the Polkadot ecosystem in an open and secure manner.
The partnership between Moonbeam and Ocean Protocol will result in additional updates. For example, assets from Ethereum MainNet and Moonbeam can be displayed side by side on the Ocean Market. Further functions to improve data protection will be introduced. And in the course of time there will be possibilities to bridge data tokens even across networks and to share liquidity.
“It is a pleasure for us to work with the Moonbeam team to get in touch with the Polkadot ecosystem. We have long envisioned Ocean as a data asset layer in many blockchain networks. Polkadot is all about interoperability between these networks. Since Ocean was originally deployed for Ethereum MainNet, Moonbeam, with its Ethereum compatibility, is the clear starting point for Ocean in Polkadot, ”said Trent McConaghy, co-founder of Ocean Protocol.
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 an expansion point because of its unmatched compatibility. Now the Ocean team can use their existing Ethereum smart contracts to access the new and growing Polkadot ecosystem.
“We are very excited to be working with the Ocean team on the first expansion outside of Ethereum. By deploying on Moonbeam, Ocean Protocol provides the Polkadot ecosystem with access to a robust web3-based data market. Our partnership will enable data protection law for use cases that avoid centralized concentration and misuse of data. “Said Derek Yoo, CEO of PureStake.