Ontology (ONT) is a cryptocurrency made by OnChain in 2017. It is a high-performance blockchain/tangle project and distributed trust collaboration platform that aims to bring the blockchain to the enterprise world in a user-friendly way.
Ontology aims to simplify the blockchain space, allowing businesses to use blockchain technology even if they have no prior knowledge of distributed ledgers. This will help businesses and large-scale enterprises increase their efficiency without the need to hire highly specialized blockchain developers.
With the tools provided by Ontology, businesses can create and customize their own high-performance private blockchains right on top of the Ontology network, which will also be interoperable with the Ontology mainchain and other blockchains on the network if needed to be. The fact that Ontology creates separate blockchains for each solution allows the entire network to scale to a very high-performance, something that large-scale enterprises would need on the blockchain. These private/public blockchain will all be able to host dApps and will be secured by a new consensus mechanism known as Verifiable Byzantine Fault Tolerance (VBFT), a new mechanism which powers the Ontology Consensus Engine vis Smart Contracts by combining elements of the Proof of Stake (PoS), Verifiable Random Function (VRF) and Byzantine Fault Tolerance (BFT) consensus mechanisms.
Ontology did not conduct a pre-mine or an ICO, instead, they elected to airdrop 20 million ONT tokens to NEO holders during March 2018. Onchain, the creator of Ontology, has also created the NEO blockchain - although these two projects, ONT and NEO, have been promised as completely seperate entities.
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