Ontology is a high performance, open source blockchain specializing in digital identity and data. Ontology’s unique infrastructure supports robust cross-chain collaboration and Layer 2 scalability, offering businesses the flexibility to design a blockchain that suits their needs. With a suite of decentralized identity and data sharing protocols to enhance speed, security, and trust, Ontology’s features include ONT ID, a mobile digital ID application and DID used throughout the ecosystem, and DDXF, a decentralized data exchange, and collaboration framework.
The next generation of in-vehicle operating systems will provide human-vehicle interaction and micro-payment scenarios based on smart contracts. The is looking forward to building an open and intelligent advanced driving platform OS, powered by unique blockchain features.
The decentralized data marketplace is designed to allow individuals and organizations to monetize and acquire data in a trusted, standardized, and cost-effective manner.
Ontology-powered decentralized attestation methods for blockchains include certification, identity, and existence proofs which help make the process cryptographically publicly-verifiable and transparent.
They makes it easier for established and emerging companies to move into the banking and financial sector using blockchain-powered technologies such as stablecoins, payment networks, and crypto-backed cards.
In the context of knowledge sharing, I use the term ontology to mean a specification of a conceptualization. That is, an ontology is a description (like a formal specification of a program) of the concepts and relationships that can exist for an agent or a community of agents. This definition is consistent with the usage of ontology as set-of-concept-definitions, but more general. And it is certainly a different sense of the word than its use in philosophy.
What Makes Ontology Unique?
The offers a variety of real-life use cases and allows businesses to build their own blockchain on top of the Ontology blockchain.
Importantly, the offers more flexibility for enterprises, allowing them to create customized blockchains to fit their specific needs in terms of features like governance and enhanced privacy, functionality that competitors like Ethereum and NEO lack by design.
The ONT chain also helps negate transaction network fees by generating and distributing free Gas (ONG) to ONT holders based on their holdings.
The further provides additional features such as smart contracts, cryptographic identity proofs (ONT ID) and tokenized data (DDXF) that can seamlessly be transferred between different blockchains.
Example: A patient’s medical records, subject to strict data privacy laws in most countries, may be utilized across the network without compromising the integrity and privacy of the patient’s data. The medical business that is transferring the confidential data is able to control what is shared with other parties and under which conditions, with no fear of patient data falling into the hands of unauthorized parties.
Ontology Cryptocurrency is committed to building a transparent ecosystem. Through the partnership with Flipside Crypto, the continuous efforts to update and improve the blockchain explorer, dedication to providing regular updates on the token distribution and lock periods, as well as the delivery of weekly and monthly updates across the social channels, we endeavor to create an unparalleled experience.
Who Are the Founders of Ontology?
Ontology Cryptocurrency was established by Li Jun, Founder of. During Ontology’s early stages of development, they received technical support from some members of Onchain’s developer team. However, the two have always been officially separate projects pursuing their own goals.
How Is the Ontology Network Secured?
The network is fully decentralized and therefore highly resistant against hacks, which would have to affect over half of the connected devices to make an impact.
Where Can You Buy Ontology (ONT)?
Both ONT and ONG are listed and supported by the world’s leading exchanges such as Binance and OKEx, with the exception of Coinbase. It is now possible to purchase cryptocurrencies like Ontology and Bitcoin directly by credit card.
The Benefits of Using Ontologies
One of the main features of ontologies is that, by having the essential relationships between concepts built into them, they enable automated reasoning about data. Such reasoning is easy to implement in semantic graph databases that use ontologies as their semantic schemata.
What’s more, ontologies function like a ‘brain’. They ‘work and reason’ with concepts and relationships in ways that are close to the way humans perceive interlinked concepts. In addition to the reasoning feature, ontologies provide more coherent and easy navigation as users move from one concept to another in the ontology structure.
Another valuable feature is that ontologies are easy to extend as relationships and concept matching are easy to add to existing ontologies. As a result, this model evolves with the growth of data without impacting dependent processes and systems if something goes wrong or needs to be changed.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.