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5 Karma

Review on Ontology by Mohammed Umaru

Revainrating 5 out of 5

Ontology features a distributed trust network providing protection for those…

Ontology features a distributed trust network providing protection for those who would like to store information and build their networks with blockchain technology. This feature is another significant time saver as a traditional trust network would take years to build.
For businesses interested in utilizing Ontology, transparency and security concerns are assuaged with it's distributed trust architecture.
In terms of real-world usage, the potential of the Ontology network is practically unlimited. This is because the blockchain aim is to benefit all business types – notably because it allows data to be transferred in a secure, transparent, fast and cheap manner.



Pros
  • 1.Simple access for businesses where knowledge of blockchain is not required. 2 Ontology use VBFT(combines three different models. These are Proof-of-Stake, Byzantine Fault Tolerant and Verifiable Random Function ) consensus model which make them unique, combing both speed and safety making transactions easier and secure.
Cons
  • Strict country of origin: Ontology operates in one of the strictest nations for crypto regulation – China.