Search Inside Bitcoins

Ocean Protocol and Dimitra launched Phase 2 of the Data Challenge

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Ocean Protocol
Ocean Protocol

Join Our Telegram channel to stay up to date on breaking news coverage

Ocean Protocol, the Web3 blockchain platform that aims to unlock data services for business innovation and AI, recently launched the second phase of the Data Challenge it started in collaboration with Dimitra. This is an initiative whose goal is to gather data-driven insights, and encourage algorithm building in order to solve problems and challenges in the field of agriculture.

The partners have gathered up a major prize pool consisting of $10,000, where $4,000 will be granted to whoever wins 1st place; $3,000 for 2nd place, $2,000 for the 3rd place, and $1000 will be used as a Community Award.

What is Ocean x Dimitra Data Challenge about?

In its recent Twitter announcement, Ocean Protocol explained how the whole event is imagined, noting that participants will be presented with a dataset containing the crop yield data for soybeans in the 46 districts of Madhya Pradesh state, India. In addition to that, they will also receive the MODIS satellite data regarding normalized difference vegetation. Evapotranspiration, leaf area, land surface temperature, and rainfall.

The challenge for participants is to study the data, rank various factors that are affecting yields, and then use that knowledge to create a simple model that would be able to predict yields based on the features. In addition, competitors will also have to identify and explain the trends in the yield data that have emerged in a 10-year period.

The rewards, as listed earlier, will be paid in OCEAN and DMTR tokens. The deadline for entry submissions is September 30th of this year, at midnight UTC, so there is still around 10 days for participants to join the contest.

The Phase 2 datasets are already live on the Ocean Market, and users can find all the bounty details, as well as the application form itself on the project’s Questbook page. Other than that, they are expected to perform the graphical methods outlined in the challenge description in order to be considered eligible for entering the contest.

Users are, however, free to augment the challenge datasets with any open-source real-data dataset that they choose. They will also get an incentive in the form of bonus points if they publish the referenced data on the Ocean Market.

What is the partners’ goal?

All of this was designed for a fairly simple reason — the same reason why Dimitra and Ocean joined up. That goal is to combine Ocean’s Web3 data sharing and monetization capabilities with Dimitra’s agricultural software. In doing so, the partners wish to drive the next gen of agricultural solutions by using data and accelerating Web3 adoption.

Right now, the global agriculture industry is seeing great changes, and there is need for data-driven productivity improvements, according to Bruce Pon, the founder of Ocean.

The data challenge will put all the tools in place to build relevant context around farming data, create models for improving outcomes, and lastly, influence the direction of the agriculture sector for the better.


Join Our Telegram channel to stay up to date on breaking news coverage

Read next