Review on Ontology by Tam Pham Duy

Name: Ontology
Item: Ontology
Rating: 5

September 13, 2018

Ontology is a new high-performance public blockchain project & a distributed…

Ontology is a new high-performance public blockchain project & a distributed trust collaboration platform.
Ontology provides new high-performance public blockchains that include a series of complete distributed ledgers and smart contract systems.
Ontology will constantly provide common modules on the underlying infrastructure for different kinds of distributed scenarios, such as those for the distributed digital identity framework, distributed data exchange protocol, and so on. Based on specific scenario requirements, Ontology will continue to develop new common modules.
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Pros

Launched by Onchain, a Chinese company in 2017, Ontology is a public platform for all types of projects of all sizes, and is a big step forward in removing barriers between blockchain and field business. Ontology is a next-generation, public, multi-chain platform that aims to provide a single, decentralized trust ecosystem through utilizing a distributed, distributed decentralized architecture, 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 block-based services through an interactive and collaborative environment.

Cons

Technology Behind Ontology: Functionally, Ontology consists of 4 layers as part of its technology framework. From bottom to top they include: - The distributed ledger layer that allows for cross-chain entity mapping and data transfer. - The core protocols that comprise the distributed trust framework, data protection and storage, and smart contract layer. - The application framework that consists of the application modules and protocols. - The decentralized feature set including data collaboration and trade, content sharing, and a reputation system. In Q3 and Q4 in 2018, apart from continuing optimization of the main chain infrastructure, Ontology will focus on its application ecosystem and isomorphic chain and cross-chain prototype realization and pilot projects to further develop the ONT ID-based trust and collaboration application system. Team: Jun Li is the founder of Ontology and also the Co-founder of Onchain. Julia Yu is the Head of Marketing and active on their team Medium page as well as Reddit.