Ontology (ONT)

Ontology was started at the end of 2017 and the mainnet was launched in June 2018. By now, Ontology Foundation and its community of open-source developers mostly oversee the future direction of the protocol. Ontology has a close relationship to NEO and is also collaborating with other layer 1 protocols. Compared to others, Ontology has a performant core blockchain and builds extensions such as pluggable components and protocols on top. The current infrastructure supports robust cross-chain collaboration, layer 2 scalability, a suite of decentralized identity (DID) and data sharing protocols with ONTO, ONT ID, and DDXF.

These resources help you to get to know Ontology, to understand how Ontology works and to start using Ontology. 

These resources help you to get to know Ontology on a technical level and to start working with it. After going through the Ontology resources you are able to determine when it makes sense to use Ontology, how to set up and run a node, network or application.

Ontology uses a dual-token design in its PoS system. ONT are used for staking and ONG as gas. ONG – the utility token – is distributed as revenues and used as a value anchoring tool for on-chain applications. The dual-token design ensures the development of the infrastructure system and enables additional value-driving services. To stimulate original growth and to cover operating costs for nodes, Ontology offers an extra node incentive program (10,000,000 ONG per year for 3 years).

More insights to Ontology’s tokenomics can be seen in this breakdown.

The Ontology Foundation has taken over the lead from the Onchain team in the governance process. The Ontology Foundation is committed to building a collaborative distributed trust ecosystem. This can be seen in the technology that is created and in the governance of the Ontology network. At the heart of the governance process is the Triones Consensus system that aims to consider factors such as fairness, distribution, and performance in governance model design. The dual-token model shall enable “competitive cooperation”.

More about Ontology governance can be found here and here.

The Ontology ecosystem is rapidly growing since 2018. Ontology Foundation is publishing new collaborations on their blog.

The 2020 Roadmap is code-named “Aristotle” and includes some breakthroughs. Ontology puts a focus on cross-chain initiatives, Virtual Machines, layer 2 solutions and new modules.

Ontology founder Jun Li is sharing insights in this blog.

Ontology is integrating its modules with other chains and more and more projects are evolving. You can add new projects here and influencers here.