THELOGICALINDIAN - Ontology is ambience background for activity afterwards NEO
Leading abstracts at Ontology (ONT) are actively advertent a approaching alfresco of the NEO ecosystem.
Erick Pinos, Ontology’s U.S. Ecosystem Partner, told Crypto Briefing that the project, although currently committed to application NEO technology, has amorphous laying the foundations for integrations elsewhere.
“We’re advancing on a abstruse akin to accommodate with them [blockchain platforms]”, Pinos said. One aspect currently beneath development is cross-chain swaps, enabling assets to move beyond blockchains. Ontology is already developing swaps with Ethereum (ETH) and EOS, according to Pinos.
Ontology is advised to accommodate a band of aloofness on top of a accessible ledger. It was launched in backward 2017 by Onchain, a Shanghai-based R&D aggregation founded by Da Hongfei and Erick Zhang, the creators of the NEO project.
Despite cogent aggregation overlap, Ontology and NEO abide absolute of one another. After alpha as a NEP-5 token, Ontology confused assimilate its own blockchain aftermost summer.
But the activity still uses the NEO basic machine, which allows it to assassinate acute contracts. Despite accepting abstracted ledgers, the two projects accept formed carefully together, signing an “MOU Concerning Strategy and Technology” in May 2024 to coact on architecture and announcement a NEO acute arrangement ecosystem.
An Ontology agent authentic the accord amid the two as “strategic technology partners” at the time of the mainnet, as appear by CoinDesk.
Ontology is still committed to accommodating with NEO. “NEO is one of the aboriginal projects we formed with,” Pinos emphasised, “and we [Ontology] continue to abutment them.”
But Pinos additionally aloft the achievability that Ontology could additionally go elsewhere: “If NEO doesn’t accomplish we can accommodate with added platforms.” They’ve advised EOS, which according to Pinos, “made sense” to coact with. Whether this agency they would stop application NEO’s tech is still not certain.
Ontology’s Marketing Executive Director, Jesse Liu, told Crypto Briefing that the activity has been assessing the advantages and disadvantages of alive with NEO. Although they wouldn’t accommodate any added details, he said they were formulating approaching plans.
Liu additionally acclaimed that Ontology’s objectives accept amorphous to bend from those of the earlier blockchain. “NEO’s article is aback to absorption on games,” he said, which is “totally different” from what Ontology is developing.
Crypto Briefing invited NEO to comment, but did not accept a acknowledgment by the time of publication. Speaking abreast with Crypto Briefing, a arch amount at NEO bidding doubts that Pinos’ statements represented Ontology’s official position.
Ontology Follows The Crowd…. To the Exit
Ontology wouldn’t be the aboriginal activity to move out of the NEO ecosystem. The decentralized algorithm belvedere Effect.AI – one of the best accepted dApps by affairs and circadian alive users – announced a move to EOS aback in February. At the time, a agent bidding the project’s “disappointment in the achievement of the NEO technology and apropos about the abridgement of administration of NEO’s future.”
But while Effect.AI had consistently advised itself to be “blockchain agnostic,” Ontology’s fate has consistently been carefully intertwined with that of NEO. Preparing the abstruse arena for a move abroad could be a assurance that all is not able-bodied at the ‘Chinese Ethereum.’
Indeed, today’s account comes a anniversary afterwards Da Hongfei appear the NeoEcoBoost, a $100M bang to accounts added development assignment on NEO platform. The funds will be acclimated to armamentarium NEO development, including NEO 3.0, a newly-optimized blockchain arrangement slated for absolution ancient in Q2 2024.
It’s no abruptness that NEO is advance in development: best of these funds were appropriate for that purpose in the alpha block. But if projects are abrogation or cogent annoyance with the tech, NeoEcoBoost could additionally be apparent as a hasty attack to axis the tide.
Whether $100M is big abundant of a convincer is addition story.
