CoinWorld News:
Tokyo, Japan, July 5, 2024 – Chainware
Starting from July 5, 2024, the token $DOP of the Data Ownership Protocol (DOP) will be tradable on 7 major cryptocurrency exchanges, such as Bybit, Kucoin, HTX, Bitfinex, Gate.io, MEXC, and WhiteBIT.
The Data Ownership Protocol clarified that on Bybit, the token will be listed as $DOP1 to avoid confusion with existing fiat currencies. On KuCoin, Gate.io, Bitfinex, MEXC, and WhiteBIT, the token will be listed as $DOP.
DOP launched its mainnet six weeks ago after a successful testnet phase with 2.67 million users participating. In the past six months, the DOP ecosystem has experienced significant growth. Over 1 million DOP wallets have been opened, and assets worth over $10 million have been encrypted using the protocol, indicating a growing demand for user-centric data ownership solutions.
“$DOP is the token of the Data Ownership Protocol, a project aimed at balancing transparency and privacy on the blockchain, empowering users to control their own data. The listing of our utility token marks an important milestone, enhancing our vision for the future of data ownership. We thank our supporters and community who have believed in our mission from day one,” said Kohji Hirokado, co-founder of DOP and former core member of Cardano.
Currently, the $DOP token has two main functions in the ecosystem: facilitating fee payments and granting community rewards. The data ownership feature of the protocol generates fees paid in DOP tokens, creating local demand for the token.
The system incentivizes holding DOP tokens while implementing a deflation mechanism through burning. It also rewards network supporters through staking allocations. So far, 210,000,000 DOP tokens have been allocated for staking rewards, with over 1.1 billion DOP tokens staked.
Prior to the listing, Bybit was positioned as the world’s second-largest cryptocurrency exchange by trading volume, surpassing Coinbase and second only to Binance. Bybit’s rise has been remarkable, doubling its market share from 8% to 16% since October 2023.
To convey the plans for the second half of 2024, DOP released a new roadmap after a successful first quarter. The plan includes a $5 million developer grant program, expanding protocol functionality, and deployment on EVM-compatible chains outside of Ethereum to reduce gas fees and benefit more users.
Furthermore, a new developer SDK will enable developers to easily integrate and build dApps in the DOP ecosystem. Other goals aim to enhance user security in managing NFTs through encryption and decryption, expanding functionality beyond ERC-20 tokens.
About Data Ownership Protocol (DOP)
The Data Ownership Protocol allows users to own their data. In cryptocurrency, financial data such as holdings, balances, and transaction history can be publicly accessed on the blockchain. The mission of DOP technology is to empower individuals and businesses to decide what to share and with whom.
DOP aims to give individuals and businesses more control over their data through selective transparency, utilizing zero-knowledge cryptography and other advanced technologies.
For more information, users can visit the Data Ownership Protocol: Official Website | Twitter | LinkedIn
Data Ownership Protocol is the source of this content. This press release is for informational purposes only. The information does not constitute investment advice or an investment offer.
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