1 Level
11 Review
9 Karma
Review on Ontology by Festus Samson
The purpose of the Ontology framework is that it is not intended to operate as…
The purpose of the Ontology framework is that it is not intended to operate as a single blockchain. Instead, the technology will allow businesses to make full use of both a private and public blockchain. Let me explain this in more detail. A financial institution will not want to put all of their data on a public blockchain as it will allow their competitors to access all of their information. In this sense, they will install the Ontology blockchain, which is a private blockchain only accessible by the financial institution, or anyone else that they choose to share permission with.
Pros
- Ontology coin was created for can be quite a difficult task, so I thought it would be best to start with a real-world example. Think about your own medical records that are held at your local doctor’s surgery. Every time you have an appointment, the doctor will make notes about what your illness was and then what he recommended (such as the medicine he prescribed). Your notes will also contain information such as any allergies you have and any regular medication that you take.
Cons
- Currently the 23rd highest market cap token at $400M, but 2 months ago it was above a Billion dollars worth of capitalization, with nearly 50% of total value in 24 hour volume on May 3rd. I wonder if there were similar spikes in created out of nothing "umbilicus coins" that day.
