Ontology-The Rising Star of Cryptocurrency (1

The Ontology (ONT) was a much-watched project at the beginning of the release. In the last round of the Mavericks, the ONT rose more than 6 times, so what is the ONT project?

 

1. What is Ontology

Due to the various trust risks and problems in today’s society, people have paid a lot of trust costs in current social governance, economic cooperation and financial services. For example. the identity authentication is not accurate, the data exchange is not secure. Therefore, the ontology is committed to solving the problem of social trust, and hopes to reduce the cost of social trust through technical means.

 

The ontology is committed to implementing a peer-to-peer trust system and building a trust infrastructure based on cross-chain, cross-system, and cross-industry. The aim is to build a low-level infrastructure platform for blockchains. By designing general protocols, general modules and general rules, the real world and distributed digital systems can be connected, and ultimately realize the knowledge of everything, the belief in everything, the belief in everyone.

 

To give a common example, each blockchain is like an island. Because of poor traffic and language barriers, each island is isolated. What Ontology going to do firstly is to build a ship, link each island through shipping, and secondly, Confirm which island you are living, whether your house is a cottage or a boat; and the third is to give you a language translator, no matter What dialects are spoken on the island, as long as the translator is used, the villagers can communicate with each other.

 

2. The Prospects of Ontology

I think the Ontology market is large and it will have a bright future. Because in modern society, our trust mechanism is based on the government, the law, the third-party authority, and the acquaintance community, but there is no way to completely ban the defraud.

 

While the ontology network uses the blockchain distributed ledger technology to solve the missing points of many trust mechanisms. Based on the ontology network, when it develops the right fit for various scenarios, our trust costs will be greatly reduced. Think about it, you will never have to go to the police station again to prove that my mother is my mother’s proof. When a child applies for a school, you apply for a financial loan, and your wife has to apply for a visa. You don’t have to run hard to break your leg and go to the major institutions to open the proof materials.

 

Here are just a few simple examples, in fact, the ontology network is not only the certification of person, but also the certification of goods and institutions.

You can take a brief look at the development trend of Ontology since its release through the ontology chart first, or you may read some Ontology news on reddit or tittwer to get more information about it, and I’ll talk something more about it tomorrow, including it’s token, progress of the project, investment value and so on.