Ontology

Brings decentralized identity and data solutions to Web 3.0. Its open source network provides a platform for smart contract creation and decentralized application deployment. The project focuses on promoting autonomous identity (ID) and data management. Ontologies have two token systems. ONT enables the holder to contribute to the network's security mechanisms and participate in governance decisions, while ONG is used to pay transaction costs.

Its main network was officially launched in June 2018. Ontology is a high-performance public blockchain that focuses on decentralized identity and data. The ontology infrastructure supports strong cross-chain collaboration and layer 2 extensibility, giving enterprises the flexibility to design blockchains to suit their needs while ensuring compliance. Ontology ensures frictionless compatibility with Ethereum through ontological Ethereum Virtual Machine (EVM), which is the first step towards creating ontological multiple virtual machines and chains for further interoperability.

Ontology It has a set of decentralized identity and data sharing protocols for speed, security and trust, with features including ONT ID, a DID for mobile digital ID applications and the entire ecosystem, and DDXF, a decentralized data exchange and collaboration framework.

Ontology developed a large number of products and protocols. To support its vision of a secure and reliable decentralized ecosystem. ONT ID is a decentralized identity framework that helps users manage their data and realizes multi-dimensional authentication based on block chain provided by global verifier. ONT ID is a key product ontology on ontology public chain realized through native smart contract. Decentralized identity is also a feature of Wing Finance (another ontology key product) and its DeFi suite, which plays a role in OScore (a decentralized credit scoring system developed by ontology).

The next phase of ontology evolution sees significant changes to the broader ontology ecosystem, starting with the development of the Ethereum virtual machine, which, when completed, will connect its trusted decentralized identity solution to the millions of developers and users in the EVM-based blockchain ecosystem.