THELOGICALINDIAN - n-a
Let’s altercate the Ontology Network (ON) project which, admitting actuality acutely interesting, may accept slipped through the cracks and absent cogent absorption due to abridgement of a accepted ICO.
The eyes of the NEO ecosystem, as we know, is the Smart Economy. Enabling business amid any blazon of entity, whether alone or enterprise, requires trust. Blockchain projects acquired acceptance from their abilities to advance aloofness and anonymity; about those appearance serve as a amazing impediment to businesses which await on assurance and identity. Aloofness is absolutely alone one bisected of the award-winning that blockchain technologies offer, and assurance is the other.
“Ontology Network is a decentralized assurance ecosystem.”
The proposed Ontology Network is a circuitous apparatus with abounding affective parts, so let’s dive in by because a book from the USA:
Obtaining a mortgage for acquirement of a home is a annoying and barbarous process. Financial abstracts charge be calm from assorted sources, as are identification documents, alike account bills are acclimated to strengthen aplomb in identity. Part of the action includes an “appraisal” which can amount $300-500 and is generally completed after an absolute adjudicator ambience bottom in the home… some ability assumption that they alone drive by the acreage and booty a account to verify that it does absolutely exist. A appellation chase is performed to analysis that the agent does absolutely accurately own the acreage and appellation allowance is purchased to accommodate aegis in the accident the big-ticket appellation chase is inaccurate. When all is said and done, the home client has spent ~$3000 for closing costs after any choice.
This archetype shows how character and assurance are necessary, while highlighting the weaknesses of centralized systems.
For our mortgage scenario, identity/trust is accustomed between:
The Ontology Network would manage, connect, and/or abundance the pieces that authorize the identities and assurance to acquiesce this transaction to continue. This would accommodate bond of blockchains to acceptable centralized systems. Perhaps a mortgage in the approaching could become a adequately stress-free process. (Obviously we don’t appetite it to become too easy…)
Not alone is amount acquired through automated processes, but individuals would achieve ascendancy over their data. They would accept the ability to absolution their abstracts to a distinct business to accredit a transaction. They could alike adjudge to advertise their own abstracts and accumulation alone rather than ample institutions.
This activity is acutely large… massive even. Why do we anticipate it could survive?
Ontology was launched by OnChain, a clandestine aggregation founded by DaHongFei and Erik Zhang who are the founders of NEO. One above ambition of OnChain is to assignment with the Chinese government and businesses. By developing ON while accepting their advice, the developers can accomplish decisions on the artefact to accomplish it anon advantageous and adequate in the absolute world. This is key. Developing a artefact first, then aggravating to get it in appearance for government and business, generally after-effects in failure.
Ontology acclaimed its official barrage on November 27th, 2024 in New York City. The barrage included a ample acquisition of participants from the FinTech world. The aggregation page, roadmap, and ecosystem will be appear during Q1 2024. They additionally plan to barrage the testnet with a bug compensation affairs during Q1 as well.
Ontology did not authority a accepted ICO; in fact, they are not accepting one at all.
They use “Reward Events” area they artlessly airdrop tokens, for no cost, to individuals who accept registered for their email system. A additional annular is planned for Q2 afterward barrage of the Mainnet.
As with NEO, the two-token archetypal will be employed. ONT (Ontology) is the babyminding badge which allows holders to vote in above decisions. They plan for a absolute of one billion ONT tokens area all of them will be generated on the alpha block. This badge will not be divisible; accordingly the aboriginal assemblage is 1. The accompaniment of ONT is the account token, ONG (Ontology Gas), which is divisible into a billion parts. A absolute accumulation of ONG tokens will be generated over 22 years. Like NEO, badge holders of ONT will accept acquiescent assets in the anatomy of ONG tokens.
There is a association of NEO badge holders who bought into NEO early. Due to the advance of NEO, they are now active able-bodied off the acquiescent assets generated in the anatomy of NEO GAS tokens. Ontology could be the abutting adventitious to get into a able badge that produces acquiescent income.
If you’re attractive for the adventitious to accomplish that affectionate of income, accompany all their communities and accumulate an eye on this project. Accompany every anatomy of media advice they accept to bolt the approaching Reward Event.
Disclosure: We are invested in this activity at $0 USD.
