OceanONDA V4 is Now Live with Data NFTs, Solving Rug Pulls and Better Community Monetization

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The new features will build on Ocean V3 to drive growth opportunities on Ocean-powered data marketplaces. 

OceanONDA V4 is deployed on Ethereum Mainnet, Polygon, Binance Smart Chain, Moonriver and Energy Web Chain.

Singapore, June 9, 2022: Ocean Protocol, the open-source, decentralized data exchange protocol to unlock data for AI, announces the launch of OceanONDA V4. The upgrade caters to data publishers, data consumers, and data marketplace operators with data NFTs for more flexible data management, one-sided staking to solve rug pulls, and better monetization via fee setting.

Bruce Pon, Ocean founder, said:

“The OceanONDA V4 release is the most important milestone to date to fulfill our vision: Ocean Protocol as the orchestration layer for data services and AI, as the general-purpose data sharing and monetization infrastructure that brings data providers and data consumers together.’’

OceanONDA introduces three key new features: data NFTs for more flexible data IP management, one-sided staking to solve rug pulls, and better community monetization. It builds on Ocean V3 datatokens for data access control, automated data pricing, Compute-to-Data to retain privacy & control of data, and the Ocean Market dapp to publish, swap, stake, and consume data assets. 

Ocean V3 ERC20 datatokens, where 1 datatoken is a license to consume the related dataset. Ocean V4 adds ERC721 data NFTs, to model the copyright or exclusive license for a data asset. Data NFTs maximize flexibility in data IP management. 

Data NFTs allow arbitrary key-value metadata fields (via ERC725y), on-chain data availability, and GDPR compliance (via on-chain encryption). They provide