Review on Ontology by NHAN LE PHUOC

Name: Ontology
Item: Ontology
Rating: 5

September 13, 2018

Ontology implements the NeoVM virtual machine, written in Go, which is used…

Ontology implements the NeoVM virtual machine, written in Go, which is used for executing smart contracts as well as for intelligent control logic of the application layer framework. The NeoVM is highly scalable and employs a “deterministic call tree” technology that allows for dynamic sharding. Additionally, Ontology uses a shared data contract model that separates data and business logic, where dapps can share data with each other using generic protocols.
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Pros

Ontology is a next-generation, public, multi-chain platform that aims to provide a single, decentralized trust ecosystem through utilizing a decoupled distributed ledger architecture, combined with a decentralized trust framework. By implementing a series of protocol standards and decentralized management modules, Ontology creates an open and standardized platform that supports a multitude of industries and connects them to blockchain based services through an interactive and collaborative environment.

Cons

Ontology places a strong emphasis on open-source and technical community contributions to help improve the platform and enable long-term sustainability. The modular design and group of protocols of the platform are intended to help facilitate adoption of the platform by businesses and organizations from a variety of industries. Users will be able to manage their digital identity, manage and share data securely, manage distributed ledgers based on their needs, build decentralized applications, and use many more distinct features that help the Ontology Chain Network to stand out.