About

Ontology is a public blockchain platform that aims to bring trust, privacy, and security to Web3 through decentralized identity and data solutions. It offers a high-speed, low-cost blockchain that enables users and enterprises to build blockchain-based solutions tailored to their needs. With its Ethereum Virtual Machine (EVM), Ontology ensures compatibility with Ethereum and promotes interoperability with other chains. Ontology also provides various blockchain protocols and products for Web3 applications, including decentralized identity frameworks, reputation scoring systems, and cross-chain collaboration solutions.

History

Ontology was founded in Nov. 2017, and its mainnet officially launched in June 2018. Ontology is a high-performance, public blockchain specializing in decentralized identity and data. Ontology's infrastructure supports robust cross-chain collaboration and Layer-2 scalability, offering businesses the flexibility to design a blockchain that suits their needs, while also ensuring regulatory compliance. Through Ontology's Ethereum Virtual Machine (EVM), Ontology ensures frictionless compatibility with Ethereum, the first step in the creation of the Ontology Multi-Virtual Machine and further interoperability for the chain.

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.

Ontology has developed a host of products and protocols to support its vision of a safe and secure decentralized ecosystem. ONT ID, a decentralized identity framework that helps users manage their own data and enables blockchain-based, multi-dimensional authentication provided by global verifiers, is a key product Ontology implemented through native smart contracts on the Ontology public chain.  Decentralized identity is also a feature of Wing Finance, another Ontology key product, and their DeFi suite, playing a role in OScore, the decentralized credit scoring system developed by Ontology.

The next stage of Ontology's development sees big changes coming to the broader Ontology ecosystem, starting with the development of an Ethereum Virtual Machine, which will connect its trusted decentralized identity solutions with millions of developers and users in the EVM-based blockchain ecosystem upon completion in late 2021.