NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

A Valuable DeFi Trend You Should Know About: Data Finance (DataFi)

NewsBTC
NewsBTC
3 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Since 2019, decentralized finance (DeFi) proved a valuable utility for cryptocurrency and likely kickstarted the bull market. Yield farming, staking and lending earned many cryptocurrency investors annual interest rates in double- and even triple-digit territory. Unheard of in traditional finance!

But with high returns, investors faced high risks too. Numerous exploits of smart contracts where user funds were drained and malicious activity of DeFi protocols that suddenly withdrew large amounts of cryptocurrency resulted in a healthy amount of skepticism. Also, DeFi moved backstage since speculation around NFTs became a lucrative investment alternative, allowing investors to achieve immense multipliers by flipping JPEGs.

But whilst the focus of crypto enthusiasts has shifted towards NFTs, DeFi has developed into a broader ‘Web3’ movement. Providers like Bancor continuously developed their protocols to provide a safer environment for stakeholders. Others, like Ocean Protocol, improved and implemented DeFi infrastructure to disrupt multi-trillion-dollar industries. Bottom line, the foundation is set and DeFi may just be on the verge of taking the center stage again to push the broader cryptocurrency market capitalization to new all-time highs. With the NFT market being valued near 50 billion dollars and projects featured on the Superbowl, it might be worth looking for other trends.

An unexplored DeFi utility: data

Data is the world’s most valuable resource. Our future depends on technologies like artificial intelligence, which can only function successfully when large amounts of data are available. But right now, less than 0.5% of the world’s data is accessible. Like traditional resources, data is exploited by large corporations creating an unfair, monopolistic market power. Ever wondered why Google’s analytics are the best in the world? They’ve got the most data. The data economy is a trillion-dollar opportunity yet to be explored.

There is one project in the DeFi space that aims to unlock this opportunity. It’s called Ocean Protocol, which was recently awarded the Technology Pioneer by the World Economic Forum. Ocean also has an agreement with the European government and German Central Bank, which stated that their technology ‘does not have any comparable competitors’ in the space.

Ocean is building a decentralized, multi-chain data marketplace built on DeFi infrastructure. The objective is to make their native token OCEAN the underlying currency for an open data economy.

When the Ocean Data Market V4 launches in Q1/2022, data owners can tokenize their dataset into an NFT, which proves the exclusive right to the data. It’s similar to owning a Bored Ape, but instead of a JPEG file, Data NFT owners own the right to a dataset. Data NFT owners can also create a supply of Datatokens, which are built on the ERC20 standard. Datatokens allow for any DeFi activity to take place, all while the assets are backed by real-world data. A breakthrough!

On Ocean Protocol’s Data Market, data investors can stake on Datatoken liquidity pools or can simply bet on the value of a dataset increasing by swapping OCEAN for Datatokens. If someone is interested to access the dataset itself, data buyers can purchase Datatokens to access the data. This proves a valuable utility, because Data NFT owners can actively generate revenues by selling Datatokens to data buyers. All functions are regulated by blockchain technology on Ethereum, Polygon, Binance Smart Chain or Polkadot’s Moonriver

DataFi Infrastructure

There is a growing community surrounding the Ocean Protocol ecosystem. Those that understood the magnitude of Data Finance have not left. Ocean Protocol’s DAO funds third-party teams to build valuable infrastructure that accelerates adoption of data as a valuable DeFi utility. DataX for example is building Datapolis, a data finance protocol offering a ‘Data DEX’ that is building towards data-backed lending and much more. Another project is Data Whale’s ALGA mobile Datatoken wallet for iOS and Android, where users can track their data assets and stake or swap on the Ocean Data Market through their phone.

If you are interested to learn more about DataFi, head over to Data Whale’s website and complete the Ocean Data Market tutorials. Read up on definitions and watch our simple explainer videos on our Web3 Data Economy YouTube Channel.

 

Photo by Luke Chesser on Unsplash
Tweet123Share196ShareSend
NewsBTC
NewsBTC

NewsBTC

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

How to Compete When Finance Never Sleeps

Crypto’s 24/7 model is resetting investor expectations. Here’s what banks and exchanges must do to keep up. When Markets Never...

NewsBTC 2 weeks ago

MEXC Blocks $4.97M in Fraud and Recovers $902K in User Funds, New Report Reveals

Global crypto exchange MEXC said its insurance fund hit an all-time high of $559 million USDT in July, as the...

Mark Hampton 2 weeks ago

Lava Network’s RPC engine sets the infrastructure stablecoins need to scale

Stabelcoins and tokenized assets are quickly becoming the next frontier for payments and financial innovation, promising near-instant settlements, lower fees,...

NewsBTC 3 weeks ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Coinbase Reserves Hit $112B: Highest Level Since 2021 Market Peak

Coinbase Reserves Hit $112B: Highest Level Since 2021 Market Peak

Sebastian Villafuerte 5 days ago

MEXC Introduces Futures Earn: Idle Balances Can Now Generate Up to 15% While Staying Trade-Ready

Mark Hampton 1 week ago
Crypto

Can Europe’s Crypto Apps Win Over Binance Users? A Growing Comparison

PR Desk 2 weeks ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望 ― 0.30ドル到達と「買うべきミームコイン」論争

    ドージコイン 今後の展望 ―...

    36 minutes ago
  • リップル 今後の展望:RLUSDステーブルコインがマネーマーケットファンドに統合

    リップル...

    55 minutes ago
  • 仮想通貨プレセール動向:次世代ビットコインレイヤー2が資金を集める

    ...

    1 hour ago
  • テザーが5,000億ドル規模の資金調達を計画、今注目すべき仮想通貨おすすめ

    ...

    1 hour ago
  • 新しい仮想通貨のプレセールが250万ドル目前、投資家が急増中

    ...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.