Ontology ONT

$2.01
Market Cap $ 370.478 MM (#25)
24h Volume $ 55.085 MM
Chg. 24h: -3.80%
Algo. score 2.6/5  (#840)
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Ontology project purpose and description

Ontology clarity of purpose

Ontology purpose and aspects

Ontology has architected a distributed trust system. It incorporates multiple trust types in an integrated protocol system with various blockchains and databases. Multi-source identities and multi-source data exchange protocols have been implemented into the network, building a distributed trust system that is cross-chain, cross-industry, cross-system, cross-application, and cross-device.

Ontology additional differentiation against competition

Ontology aims to develop its trust ecosystem through partnerships to provide distributed services including distributed communities, data verification, data exchange, and credit across industries.

Ontology categories

InsuranceHealthcare

Short description

Ontology is a new generation public blockchain project & a distributed trust collaboration platform. Ontology provides new high-performance public blockchains that include a series of complete distributed ledgers and smart contract systems.

Abstract

Throughout history people have established trust through technology, rule of law, and communities. However, trust and collaboration between entities involves multiple sources and isolated systems, which means it can be costly, and therefore hinders the breadth and depth of collaboration potential. Although the technology has advanced a great deal in recent times, too many factors are still hindering collaboration with trust. These include fragmentation of trust systems, the missing role of the individual, inaccurate identity verification, inability to dispute false information, etc. In areas such as social governance, economic cooperation, and financial services, the cost of establishing trust is huge. The decentralized, tamper-proof blockchain has brought trust through technology to certain industries, however, further integrative mechanisms are needed to join together diverse trust systems and applications into a single new trust ecosystem. Ontology Network establishes the connecting infrastructure for a trust ecosystem, with effective coordination of trust and data sources, as well as providing the infrastructure for distributed application development.

Link to Roadmap: n/a
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