Ocean Protocol, the blockchain mining pool project developed by the Berlin-based team, has successfully mined its third block in an ongoing decentralized quest, aimed at empowering individuals and the open-source community to gain access to secure, reliable and decentralized cryptocurrencies.
The most recent block was mined at block level 807270 in the Ethereum network and represents the third successful block that Ocean Protocol has mined since going live in the Ethereum network in March of 2021. The successful mining has been credited to the liquidity pool of Ocean Protocol token holders.
The team at Ocean Protocol is building an open-source platform that enables users to securely transact and share data and services using blockchain based assets. Through their mining pool, users are able to purchase stake in a particular asset prior to releasing it on the blockchain.
Going forward, Ocean Protocol plans to put the mining pool to use in powering their decentralized applications. This will involve using the mining pool to generate income through staking rewards, allowing users to cover their gas fees to use the protocol’s services, and creating incentive-based structures to create a fair and balanced ecosystem.
With the success of their third block mined, all eyes now turn to the team to see whether or not they will be able to successfully implement this growing venture and foster a truly decentralized cryptocurrency market.
Bitcoin Mining Pool Ocean Successfully Mines Third Block in Ongoing Decentralization Quest
