Ontology
Symbol
ONT

Descrption:Ontology is a new high-performance 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. Ontology blockchain framework supports public blockchain systems and is able to customize different public blockchains for different applications. Ontology supports collaboration amongst chain networks with its various protocol groups. Ontology will constantly provide common modules on the underlying infrastructure for different kinds of distributed scenarios, such as those for the distributed digital identity framework, distributed data exchange protocol, and so on. Based on specific scenario requirements, Ontology will continue to develop new common modules.

80
evaluation
Information
WebSite https://ont.io/
GitHub ontio/ontology
Update Date 2018 Sep 04 09:09:14
Market
Circulating Supply 184,206,208
Total Supply 1,000,000,000
Max Supply 0
Price $1.7581091
Volume 24h $37,223,240
Market Cap $323,854,592
Change 24h -10.42%
Update Date September 26th 2018, 3:06:49 am

Ontology:A New High-Performance Public Multi-Chain Projeqt &A Distributed Trust Collaboration Platform

v1

Principle and design goals

Ontology’s Trust Network is a protocol network built with multiple blockchains and systems to support use with all business types.In order to meet the needs of different industries, the flexible design structure is modularized, pluggable, and easily expandable.Ontology applies blockchain technology to all business types,providing blockchains, smart contracts, distributed verification management, data exchange, and other protocols and APIs. Users can easily develop distributed services through Ontology without having previous knowledge of distributed networks.  

Technology implementation

Consensus mechanism

Ortorand Consensus Engine  

ertain distributed ledger networks within Ontology’s chain network support Ontorand Consensus Engine (OCE), a new consensus engine. Ontorand is a highly effective version of the DBFT consensus protocol based on Onchain’s Distributed Networks Architecture (DNA). It has reached near-infinite scalability and requires a relatively low hashing rate, making it highly unlikely to experience forks of the network. Ontorand’s block-creation speed is only limited to internet speed, usually resulting in confirmations within 20 seconds. As a truly decentralized protocol, Ontorand entitles its users to consensus rights, eliminating cases where miners or other parties solely control confirmation power. Ontorand selects who confirms the blockchain using a verifiable random function, every confirmation receiving an Ontology seed directing to the next confirmation. Ontorand also supports pluggable verifiers and online protocol recovery and upgrade. Meanwhile, in order to meet needs from different chains in Ontology, the distributed ledger framework also supports pluggable consensus mechanisms including DBFT, RBFT, and custom PoW.  

Accounts and transactions


Smart contract system

Smart Contracts
Businesses can grow by implementing smart contracts and trust networks through new procedure protocols,controls, and exchanges of data.  

Cryptography

Ontology Crypto Package (OCP)
Ontology provides a series of cryptography and data security module support in areas including multi-factor entity authentication, distributed data exchange,and distributed procedure protocols. This includes encrypted data transfer, key sharing protocols, multiparty key management, ring signature modules, blind signature modules, and secret sharing mechanisms. In identity and data validation zero-knowledge proof and homomorphic encryption schemes are used, and in a collaborative application two records are kept. Other multi-party technology schemes are being explored for the future.  

Distributed storage protocol

GlobalDB
GlobalDB is a distributed keyvalue storage. It provides multiple backend database module options including levelDB, RocksDB, TiDB, and cockroachDB.
GlobalDB is a blockchain database and IPFS module. GlobalDB provides the ability for distributed transactions,scalability, real time checking of the blockchain, and ability to interact with data off-chain. It can be used to correlate the blockchain and data, the blockchain and AI, and so on.  

Cross-chain and exchange technology

Ontology Marketplace (OM)
Ontology Marketplace is a distributed data exchange complete with data sets, algorithms, and models. It acts as an extension to Ontology, providing data products, data predictions, and data computing resources. At the same time it maintains compatibility with other major cross-chain systems to create a large data exchange platform.The native dApp lets providers across industries implement the data trading market.    

Special technology

Specialized Identity Verification
Entities can create specialized identity verification systems based on industry specific or legal requirements, for example by integrating compatibility with external electronic identification system such as CA Identity Manager,or by integrating requirements of governments, organizations, academia,businesses, or social groups.  

Economic model and incentive

Distributed Equity Management
Today's economic system contains a range of equity management models,though due to factors such as low transparency and information asymmetry
these projects lack credible trust mechanisms. Equity management is also facing obstacles regarding project assessment, risk warnings, information disclosure,equity circulation, and authority entrustment. In light of this Ontology has built a trustworthy distributed equity management system.  

Governance mechanism

Applications

Cross-industry application teams establishing their own projects on top of the Ontology infrastructure are core to the Ontology Family. At the same time Ontology helps services succeed at their projects by helping with the creation and development of applications

 

Contributors

No contributors information for the version. to see perfessional version!

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