Ontology is a block chain platform that places importance on reliability .
We aim to construct reliable social infrastructure with distributed trust network .
It has high functionality and can be applied in various fields, so it is attracting attention as it will become the entity responsible for the development of the block chain market in the future.
In this page, we will consider future possibilities through a concrete use case from the fundamental things such as the outline and features of Ontology .
Ontology’s advanced block chain technology specialized in our lives is a must read.
Let’s briefly outline the Ontology (ontology / ONT)
Outline of Ontology
Detailed description of features of Ontology (ontology / ONT)
Ontology (Ontology) is a project aiming at building social infrastructure with “trust” as the axis .
We provide secure and secure distributed network to companies without knowledge of block chain technology.
So, how does Ontology establish “trust”?
This time, I will explain Ontology which attracts something something.
There is a cooperative relationship with NEO
On March 1, 2018, ONT was air dropped against the holder of cryptocurrency NEO.
By this, it is Token ONT issued by Ontology that was distributed free of charge to NEO holders .
Immediately after the air drop Ontology listed on the world’s largest cryptocurrency exchange “Binance” and gathered topics.
NEO is a currency with high market capitalization top ranking support rate due to high technical strength and speed of processing capacity.
Ontology is a token of “NEP – 5” standard developed by Onchain Inc. of China startup company as well as that NEO , developed based on NEO.
- What is NEP-5
- Token “standard” on the NEO platform. Since the standards are the same, a common interface can be used.
Onthology is scheduled to launch on the main net on June 30, 2018, and it is a rapidly growing currency in a short period of time.
It seems that Ontology is in a cooperative relationship with NEO as a background to the rapid growth so far.
On May 14, 2018, NEO and Ontology concluded a memorandum of understanding on the integration of strategy and technology.
NEO provided a technical basis and Ontology developed its customer service accordingly, so that they cooperated with each other.
Both of them aim to promote block chain technology and its application by integrating and cooperating with smart contracts, data technology, cross chain, etc.
It is attracting attention that NEO and Ontology mutually increase market value by cooperating with each other.
Customizable high-performance block chain
One of the objectives of Ontology is to connect enterprises and block chains .
Ontology’s high-performance block chain framework provides a system that can be supported for all business types.
You can customize different block chains for different applications as needed to answer different industry needs .
Block chains of different protocols can also be made compatible, supporting collaboration between chain networks.
Ontology also has a high processing capacity comparable to ripple (XRP) .
Therefore, it is possible to process many applications, which is expected to be highly practical.
Furthermore, it is noteworthy that Ontology implements a convenient Smart Contract called “SmartX” .
In SmartX, NeoVM base · C # and Python correspond to the development language, and it deals with languages easy for developers to understand.
We plan to add Java, Rust, Go and JavaScrip in the future, we are hoping to lower development barriers and proactively develop smart contract ecosystems.
Triones Consensus System and Ontology Olympus Accelerator
Ontology’s project includes the development of an open source distributed trust ecosystem called Triones Consensus System .
The Triones Consensus System is divided into three categories: Consensus Node Group, Candidate Node Group, and Dynamic Participator Node Group.
Onthology Candidate Node List can be checked from here.
- Three node groups
- “Consensus Node Group”
The consensus node group consists of seven individuals / organizations selected as a result of the candidate approval process and has a high interest by ONT token ownership of at least 100,000 ONTs.
- “Candidate Node Group”
Candidate node groups are built into consensus designs and ultimately support large deployments of over 2,400 nodes. Candidate network size can be adjusted dynamically in relation to node cost and business size on the ontology chain.
- “Dynamic Participator Node Group”
All ONT holders have stake and trust in Triones Consensus System governance and provide stakeholding incentives to users.
Also, on June 4, 2018, I announced the Ontology Olympus Accelerator (OOA) program .
The OOA program links experts in the technology field with product experts in various fields and is developing new business applications using collaboration as an entrepreneur and ontology.
The OOA program aims to provide support for technology, marketing, financing, human resources and compliance to develop open source collaborative projects with a distributed trust ecosystem.
Block chain platform that places importance on reliability
In the Ontology project, “importance” is regarded as important . In the Ontology project it is suggested that trust consists of three elements.
- Trust by technology
- Trust by law
- Trust by community
Through collaboration between these three elements and the block chain, trust goes to the next stage, and the construction of a network that integrates fragmented individuals, companies and governments is an Ontology project.
- Establishment of three trusts
- “Trust by technology”
By sharing and transparentizing information through block chain technology you can earn a lot of trust . Since Ontology is done through approval from the parties at the time of data transfer, strong reliability can be established in that privacy can be surely protected.
- “Trust by law”
Since the economic system and the legal system are indistinguishable, we aim to integrate the block chain and the economic system . A reliable contract can be realized with smart contract of Ontology with high technology.
- “Trust by Community”
It is a universal truth for people to trust familiar people, but distributed networks make it possible to construct a much larger trust community. Ontology aims to be a social infrastructure that connects individuals, companies and governments through a distributed trust network of P2P networks.
In existing networks, centralized “centralized trust” through centralized management is regarded as a problem .
If the center receives hacking etc., information leaks out.
Moreover, it is inefficient and costly also in terms of protection of personal information and data management.
It is “Distributed trust” by Ontology ‘s block chains to solve it.
By distributing and managing with multiple computers, you can speed up processing speed, reduce costs, and prevent information leakage.
By distributing and managing it, there is the merit that it can manage comprehensively .
In this way, Ontology’s block chain system that is reliable both technically and content can be utilized in various fields and can be connected to any database, so it is considered to be a useful platform for practical application.
【Future of Ontology (ontology / ONT)】 How to use · Use case explained
How can Ontology actually be used?
I will explain how to use it with concrete examples.
It is possible to make a prompt and reliable contract
As mentioned earlier, Ontology implements Smart Contract .
It is expected that Ontology ‘s smart contract technology will be introduced in the financial industry, which requires reliable processing, which can withstand the practical use of social infrastructure.
If this is realized, it will not be necessary to exchanges on paper, which will lead to more efficient business, which can save significant costs and labor .
Can track products and quality control
Since it is possible to issue a digital ID to a product with a multi-source product ID system and register it in a distributed network, you can track products and quality control.
It is possible to keep goods safely and safely even if you leave control of producers .
It is possible to disclose information
If doctors, hospitals and patients use it, it is possible to share patient visit history, medicine data, etc. with doctors and hospitals .
On the contrary, patients can check the qualifications of doctors and hospitals, so they can feel confident.
By disclosing information, we can build relationship of mutual trust .
In addition, disclosure of information is conducted after approval of the person himself / herself, so it meets the requirement of privacy protection.
Ontology’s white paper also makes it possible to apply it in various fields such as insurance and media.
What is the advantage of Ontology (ontology / ONT)? Compared with similar projects
It is NEO as a similar project of Ontology.
Here we summarize the similarities and differences between NEO and Ontology.
Similarities with NEO
Similarity ①: token system
The token system of NEO and Ontology is technically almost the same, but the maximum supply of ONT token is 1 billion ONT, which is ten times NEO.
However, both generate GAS at the same speed.
The block generation rate is also about the same in 15 to 20 seconds.
Similar point ②: Both support DApps development
NEO and Ontology are also platforms for the development of DApps .
However, Ontology is superior in development in a more private environment, and there is an advantage when the government period and major companies want to promote the project in private.
Similarities ③: Both partners with Onchain, a private company
NEO and Ontology both receive technical support from private company Onchain.
Da Hongfei of Neo and founder of each currency and Jun Li of Ontology are co-founder of Onchain.
By doing this, they work together to make the system successful.
Differences from NEO
Difference ①: Difference between use cases of NEO and Ontology
Both NEO and Ontology are public block chains, but Ontology is highly oriented toward enterprises that can safely store resources by restricting viewers by managing access rights.
In addition, users can connect them to another block chain and share only certain parts of the resource .
In other words, NEO and Ontology have fundamentally different use cases.
Difference ②: The purpose of NEO and Ontology is different
This is a very important part.
Both platforms were created for DApps development and Smart Contract, but the purpose is totally different.
In a nutshell, it is the difference whether to aim for the opening of the chain or not .
NEO’s vision is the creation of smart economies, public block chains focused on digital assets and public DApps.
Ontology, on the other hand, was created to create (private) block chains that can be safely and individually managed for business use, while being public block chains, and connect them (partially) to each other.
This is a big difference between NEO and Ontology.
Ontology on Ontology (ontology / ONT) · Tweet summary
I bought in the sharp battle practice (never do) again and continued descending from there, one of ten kinds of ALTOs that became a hold case, # Ontology finally exceeded the bid price! Yeopie. He is a good kid. I thought it was a bit different from other children. WAN chan, Storm and NEM will someday regain that momentum.
– gorominan (@ miniminiv 6) June 6, 2018
Now I invest more in old coins like coin checks Second generation coins # Onntology # EOS # VeChain
I think that it is better to invest in something.
The volume is obviously moving.
You should conscious of coins with a high volume.
I bought #EthereumClassic yesterday and try to say.
Etha is different.
– Ingurians’ cryptocurrency blog ‘blockchain’ (@ Ing Lehman Glee) June 21, 2018
ICO ranking in 2018 As you can see,
We have been exploding since ontology and zilliqa, since ICO.
Those who are not talking about in the world are increasing. #ontology # zilliqa # cryptocurrency # ICO # grass coin https://t.co/ylT1Mx2jmd
– kaboo (@ y Letz mLyLus 58 Zh) May 16, 2018
Let’s check the chart of Ontology (ontology / ONT)
A chart of Tradingview vs. BTC is displayed.
On June 30, 2018, launch to the main net is scheduled, so it is important to note that price increases are expected.
Technical analysis of Ontology is recommended by Tradingview!
Ontology corresponds to the Tradingview chart.
- Why Tradingview?
- · We deal with abundant kinds of technical analysis · indicators
· Easy-to-see screen display that can be understood intuitively
· You can share results among SNS users
A list of exchanges that Ontology (ontology / ONT) can purchase! Binance recommends
ONT exchanges list
According to the Coinmarketcap data, you can see that the amount of transactions in Binance and OKEx is large.
Binance with a lot of transaction volume with BTC is recommended.
Ontology (Ontology / ONT) Project Summary
We summarized Ontology for the purpose of constructing reliable social infrastructure.
The point of the Ontology project is the design which is easy to penetrate our society, and it is very practical .
It is hoped that Ontology will take the initiative to lower the barrier between society and the block chain and increase the market value of the block chain.
It will be more and more important to launch on the main net soon.
Author: House Cat – Source Post: https://crypto-times.jp/ont/
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