Protofire collaborates with Ocean Protocol to develop data marketplaces

Protofire collaborates with Ocean Protocol to develop data marketplaces

Ocean Protocol, a platform connecting data providers and data consumers to unlock data and value-added data services, and Protofire, a Web3-focused division of Altoros, today announced a collaboration to build decentralized data marketplaces to facilitate the continued expansion of the open data economy.

Combining a deep knowledge of Ethereum and machine learning (ML), Protofire will support Ocean Protocol in its mission to develop data marketplaces.

“Working in a collaborative environment across teams can be both rewarding yet challenging. Between defining specs and aligning the desired scope, a lot of effort and time are put forth in preparing to do the actual work. From the beginning, the collaboration with Protofire has been seamless. The team displayed impressive foundational knowledge of Ocean tech and, after a quick onboarding, they were working on core protocol enhancements and jumping into code development. We’re thrilled to work with such an enthusiastic and experienced team.”
– Alex Coșeru, VP of Engineering at Ocean Protocol

Under the strategic partnership, Ocean Protocol clients can employ blockchain expertise from Protofire through the following services:

Protofire will offer maintenance and support needed to address the challenges in blockchain adoption. In addition, the Protofire team will provide token holders with real-world use cases (e.g., The Graph Protocol) on how to scale the network.

In this partnership, Protofire will deliver a reference implementation of Ocean Protocol that can be further used and customized to easily build data-driven marketplaces. These marketplaces will utilize smart contracts to automate agreements between data buyers and sellers, as well as ensure timely payments.

“We believe in the power of data, decentralized markets, and open-source technology. Collaborating with the team behind Ocean Protocol, we aim to unify two powerful technologies — blockchain and machine learning — in a single platform to democratize data, while preserving security.”
– Manuel Garcia, CTO of Protofire

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