WHAT IS DECENTRALIZED DATA EXCHANGE?
The Wolk Protocol defines how data buyers and suppliers use decentralized virtual currencies (WOLK token) with APIs (Wolk API) to transact using decentralized backend storage.
Suppliers Upload Data, Earn WOLK Data is stored on decentralized data storage, suppliers are compensated in WOLK tokens when data is onboarded and accessed via API
Buyers Spend WOLK to Get Data Data Buyers use Wolk APIs to get quality data, transfering WOLK to Data Suppliers
WOLK is Liquid Anyone can exchange between ETH and WOLK by interacting with the WOLK Smart Contract.
WOLK Price Driven Up by Data API Usage Because every API response removes a tiny percentage of WOLK, WOLK pricing is driven up with regular API usage
The Wolk Protocol supports decentralized data exchange using decentralized virtual currency keyed in by IDs, enabling data buyers and data sellers to exchange information about IDs such as mobile device IDs, emails and phone numbers. Wolk APIs use a new Ethereum-based token called "WOLK". In the Wolk Protocol, data buyers spend WOLK tokens to acquire data about specific IDs via APIs and data suppliers earn WOLK for data delivered to buyers using those APIs.
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