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.
< SPAN class=" qL-size-13 qL-font microsoftyahei ql-author-58030660"> 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.
< SPAN class=" qL-size-13 ql-font microsoftyahei ql-author-58030660">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).