Ocean Protocol Launches the ETH Prediction Challenge

Ocean Protocol Launches the ETH Prediction Challenge

The ETH Prediction Challenge is live post the announcement made by Ocean Protocol. It will go on till October 16, 2022, at 23:59 UTC. Participants have to engage with the tools of Ocean Protocol to predict the price of Ethereum closely.

A total of three winners will be selected by a panel of evaluators, sharing the prize pool of $5,000 in $OCEAN as follows:-

  • First place – $2,500
  • Second place – $1,500
  • Third place – $1,000

Participants are also required to show their predictions in terms of insights and approaches that they adopted throughout the process. The objective is to activate the community of data scientists and facilitate learning to accelerate the adoption of Web3.

The challenge is a part of the Ocean Data Challenge program launched in July 2022. Ocean Data Challenge was initially aimed at encouraging the community to make their decisions based on relevant insights along with building algorithms that assist in solving business problems that are complex in nature.

Participants will have to head to the Ocean.py library to access the historical data, which would surely come in handy while drafting the insights. Predictions should cover 24 hours starting from October 17, 2022, at 1 am. 24 reports will be drafted for every hour, supported by a final project presentation of 10-30 slides.

Reports could include contents like approach, difficulties, and insights gained. Ocean Protocol has released an ocean.py README with the steps that need to be followed by the participants to be considered for the competition.

A panel of evaluators will judge 80% of the submission by Root Mean Square Error and the remaining 20% by the presentation slides. Participants can make their submissions better by providing relevant information in the presentation.

The submission deadline is October 16, 2022, 23:59 UTC (Sunday). Datasets are live on the Ocean Market, with all the details available on the dedicated Questbook page.

Ocean Protocol is a data exchange platform that is decentralized in nature. It is currently leading the movement that looks to unlock the economy, driven by data and insights. Allowing access to quality data is one of the core pillars of Ocean Protocol in the direction of achieving the mission.

It is driven by an intuitive marketplace technology that allows data publication securely. The data can then be discovered and consumed in a privacy-preserving manner. With this, Ocean Protocol eliminates the tradeoff and gives the power back to the data owners.

A list of deliverables can include architecting a simple AI model and running the same model to make future predictions more effective for ETH price. Contestants entering the competition must closely follow the guidelines to make a strong winning statement.

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