What is Ontology?

in blockchain •  10 months ago

Ontology is a public blockchain platform that allows for the creation and implementation of projects of different sizes; thus, it bridges the gap between the blockchains and businesses. As a new technology, blockchains are still a technical subject that requires quite a considerable amount of knowledge for businesses to integrate into their processes. Ontology enables businesses to implement blockchain solutions without necessarily having prior knowledge of the technology. It helps businesses and individuals become active managers of their data.

Ontology was launched in 2017 by Onchain co-founder Jun Li. It has since seen a number of developments including the open sourcing of the first batch of its projects on GitHub, the introduction of Triones membership system, open sourcing of the VBFT consensus mechanism and a new version of underlying framework among others. The first version of the ontology roadmap was also released with timelines for the release of the main net set for the 2nd quarter and additional features such as homogeneous chain and cross-chain POC, threshold signature with MPC, secure private key recovery and parallel transaction execution set to be added by the 3rd quarter of 2018.

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