What is the Data Ownership Protocol?

The Data Ownership Protocol is an infrastructure built on Ethereum’s blockchain to provide users with selective transparency. The project allows users to choose which parts of their personal information, wallet, or assets become public knowledge.

The protocol processes transactions using zero-knowledge (ZK) cryptography while prioritizing privacy. The project batches payments together away from the main Ethereum network to reduce network congestion and increase transaction throughput.

It is governed by a decentralized autonomous organization (DAO) with a rotating committee of node operators, which helps to protect the platform’s security and integrity.

History of The Data Ownership Protocol

The Data Ownership Protocol was founded in 2022 by Matan Almakis and Kohji Hirokado. Matan Almakis, the Head of Protocol, has over three years of blockchain startup experience.

His Master’s in organizational development, combined with his technical expertise, led to the creation of a human-centric blockchain solution.

Kohji Hirokado, a cryptocurrency industry veteran, leads the protocol’s expansion in Asia. His experience with Cardano and Tomi provides valuable insights into the evolution of blockchain technology and Asian market dynamics.

Since its inception, the protocol has progressed through several key phases and milestones. In December 2023, it launched the Testnet phase, allowing users to explore the functionalities available.

On April 3, 2024, an initial coin offering (ICO) was conducted, raising around $162 million. It launched its mainnet on May 23, 2024, and is currently in phase 3 of its roadmap implementation.

Core Components of The Data Ownership Protocol: Ethereum, ERC Token Standards, ECDSA Hashing, etc

Ethereum Blockchain

The Ethereum blockchain is a decentralized platform that enables the execution of smart contracts and the creation of decentralized applications (dApps). It provides a secure and transparent environment for developers to build and deploy their applications, leveraging its robust infrastructure and vibrant ecosystem.

The Data Ownership Protocol builds its decentralized platform on the Ethereum blockchain. It utilizes Ethereum’s smart contract capabilities to implement its data disclosure mechanisms, secure data storage, and data management.

ERC Token Standards

ERC token standards allow developers and projects to define the rules and functions for creating and managing different tokens on Ethereum. The Data Ownership protocol uses ERC-20, ERC-721, and ERC-1155 token standards.

The ERC-20 standard is widely used for fungible tokens, where each is interchangeable and divisible. It is used in the protocol to provide utilities within the DOP ecosystem.

The ERC-721 standard is used for non-fungible tokens (NFTs), which are unique and indivisible. They represent unique data assets owned by the protocol’s users.

The ERC-1155 standard combines the features of fungible and non-fungible tokens, allowing for multi-token contracts. The protocol utilizes these token standards to manage user data and assets.

Elliptic Curve Digital Signature Algorithm (ECDSA) Hashing

The ECDS algorithm is a cryptographic algorithm that creates digital signatures on the Ethereum blockchain. It ensures the authenticity and integrity of transactions by allowing users to sign and verify messages using their private keys.

ECDSA provides a secure way to prove ownership and authorization over digital assets on the Ethereum network.

The Data Ownership protocol uses ECDSA to enable selective data disclosure and enhance user privacy. ECDSA allows the protocol to sign and verify user data transactions, ensuring the authenticity and ownership of data assets.

Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (ZK-SNARK)

A ZK-SNARK system based on zero-knowledge proof technology verifies computations without revealing the input data. They enable parties to prove the validity of a statement without disclosing the underlying information.

ZK-SNARKs are particularly useful for privacy-preserving applications, as they allow for verifying transactions or computations without exposing sensitive data.

ZK-SNARKs allows the protocol to implement these privacy-preserving mechanisms. It enables users to selectively disclose specific aspects of their data without revealing the entire dataset.

Features of The Data Ownership Protocol: DApp Integrations, NFT Encryption, Zero Knowledge KYC, etc

DApp Integrations

Source: DOP Website

The data protocol features integrations that allow users to interact with DeFi protocols and decentralized exchanges (DEXs) without sacrificing privacy and control. These integrations include partnerships with blockchain projects, identity verification services, and data analytics platforms.

The protocol’s integrations allow a high level of interoperability with EVM-compatible infrastructures. Users can utilize their DOP tokens and NFTs within familiar applications while maintaining data privacy.

The protocol also features third-party wallet integrations, allowing users to manage their digital assets securely. By supporting various wallets, users are allowed to interact with protocols using their preferred assets, enhancing the overall user experience.

NFT Encryption

Source: DOP Website

The Data Ownership project has an NFT encryption feature that enhances the privacy of NFT tokens and projects. The feature allows developers to encrypt the metadata associated with NFTs, ensuring that sensitive ownership information remains confidential.

This feature enables artists, creators, and collectors to engage with NFTs securely, protecting their intellectual property. By prioritizing NFT encryption, the protocol aims to position itself as a leader in the developing NFT space.

Zero-Knowledge KYC

Source: DOP Website

Zero-knowledge KYC (Know Your Customer) is a revolutionary feature of the Data Ownership project that allows users to securely and privately verify their identities. The project’s zero-knowledge approach enables users to prove their identity without revealing unnecessary personal details, such as balances or transaction histories.

Users can choose what information to share, ensuring they retain control over their data while complying with regulatory requirements.

Grants Program

Source: DOP Website

The protocol’s Grants Program is a strategic initiative to foster innovation and growth within the Data Ownership ecosystem. The program allocates funds using DOP tokens to developers, incentivizing them to create features, tools, applications, and functionalities.

Through the grants program, the project aims to support projects that align with its mission of promoting data ownership and privacy.

Staking

Source: DOP Website

The project staking feature allows users to participate in the network’s security and governance by locking up their DOP tokens for a specified period. In return for their commitment, users can earn passive rewards through additional tokens.

Through staking, DOP encourages community participation in governance decisions. The project allows token holders to vote on critical issues surrounding the platform’s development and policies.

This democratic approach fosters a sense of ownership among users and aligns their interests with the protocol’s long-term success.

What is the DOP Token?

Source: DOP Whitepaper

The DOP token is the backbone of the Data Ownership ecosystem. It provides utilities, allows holders to participate in governance activities, and enhances platform security.

The project allows users to stake DOP tokens and increase their earnings. The tokens also facilitate user interactions with the platform’s privacy features, ensuring privacy is not compromised.

DOP has a total token supply of 23.45 billion, with 8 billion in circulation. The tokenomics allocates 28% (6.57 billion) to private sales and 2% (469 million) to pre-sale. Tokens from the private sale were fully unlocked at the TGE, while presale tokens had a five-month cliff period.

2% (469 million) to mainnet airdrop and 1.2% (281 million) to the testnet airdrop. 24.6% (5.77 billion) is allocated to the development team, with a 12-month cliff period, after which tokens will be gradually released over 24 months.

14% (3.28 billion) to the long-term treasury fund (LTF), which has a 6-month cliff period and a 24-month linear release period.

13% (3.05 billion) is allocated to rewarding the ecosystem and community. 10.2% (2.39 billion) is reserved for marketing and operations and both operations will be released linearly over 36 months.

3% (703 million) for the launchpad and 2% (469 million) for advisors. Advisors’ tokens are subject to an 8-month cliff, followed by a 24-month linear release, ensuring their continued involvement over time.

Is the DOP Token a Good Investment?

The DOP token serves as a fundamental asset within the Data Ownership ecosystem. It allows users to engage with its privacy features, develop NFT and token applications, and participate in governance.

With the protocol, users can manage their data ownership and benefit from the protocol’s robust utilities. The token also facilitates fee payments for using DOP’s data ownership features, which can be paid in DOP tokens.

The Data Ownership protocol allows token holders to make decisions in the ecosystem, allowing investors to determine the project’s long-term viability.

Risk Analysis

Advantages

The Data Ownership project offers a revolutionary approach to data privacy and control in blockchain. Advanced cryptographic technologies enable users to decide the information they wish to share about their asset holdings and transactions.

This selective disclosure allows users to maintain a balance between transparency and privacy.

The project’s integration of zero-knowledge KYC allows users to verify their identities without compromising personal privacy. Users can choose what data to disclose, such as showing only token symbols without revealing balances or transaction histories.

Disadvantages

The protocol’s primary disadvantage is the complexity of implementing advanced cryptographic techniques like zero-knowledge proofs. While these technologies offer enhanced privacy and data control, they can also introduce challenges in terms of usability and understanding for the average user.

Users may find navigating the intricacies of selective data disclosure and the associated privacy features difficult.

Challenges

The Data Ownership project faces the challenge of ensuring regulatory compliance in the current crypto climate.

The project’s ambition for cross-chain compatibility presents technical and operational challenges. While the protocol is built on Ethereum, expanding its features to other blockchain networks would require significant effort and resources.

Competitive Analysis

Monero and DOP are privacy-focused projects aiming to protect user data but diverge in their approach and target market.

Monero prioritizes financial privacy, offering anonymous and untraceable transactions through advanced cryptographic techniques. At the same time, the Data Ownership protocol concentrates on giving users complete control over their data.

Monero focuses on individuals seeking to shield their financial activities. The data protocol encompasses individuals, businesses, and organizations that value data protection.

How Can You Own DOP Tokens?

Users can follow a simple process to own DOP tokens and become a part of the Data Ownership ecosystem.

Setup a Wallet

One way to own DOP tokens is to purchase them through an exchange. To do so, create a Gate.io account, complete the KYC process, and add funds to the account to buy the token.

Utilize the DOP Tokens

Once users have acquired DOP tokens, they can explore the protocol’s ecosystem by participating in developing dApps, governance, and voting.

Useful References

For the latest updates about the DOP token ecosystem, visit:

• Official Website
• Twitter
• Telegram

Take action on DOP

Users can trade the DOP tokens here.