Ontology

New high-performance public blockchain project &distributed trust collab...

home link https://ont.io/

reference material Whitepaper.pdf

Community

Market
923.75 KRW
Exchanges that listed the coin
34
Symbol
ONT
Dapp
9
Project introduction

Ontology is a high-performance public blockchain project & a distributed trust collaboration platform. Ontology blockchain framework supports public blockchain systems and is able to customize public blockchains for applications. Ontology also supports collaboration among chain networks with protocol groups.

Executives and partners

Li jun

Founder

Andy Ji

Co-Founder

Hu ning

Senior Protocol Architect

Cong Honglei

Senior Blockchain Expert

Mao Xianping

Dean of the Ontology Research Institute

#Hashed

SEQUOIA CAPITAL

Medium

ONTO Korean Version Release...

In the previous article, our Founder Li Jun explained the meaning of “TRUST Redefined”. Jesse Liu, Marketing Director of Ontology, announced at the Korea Media Conference that ONTO is available in Korean for the first time and now supports node staking. What’s more, ONTO will soon support Klaytn, Korean social giant Kakao’s public blockchain project. More details will be released soon.Jesse also revealed that the Ontology Global University Workshop will soon kick off in top Korean universities in Seoul. The workshop will be the largest of its kind so far in the blockchain industry as it will cover dozens of top universities in cities in Korea, Japan, Russia, the US, and Germany. Ontology is aiming to go to the campus to meet aspiring young students developers and build a younger, more innovative and vibrant developer community in the next 1–2 years.In the media Q&A session, Jesse explained that: “the reason the Ontology team chose to hold the media conference in Seoul is that we see the huge potential of the Korean market. The blockchain technology is widely known in the country and many Korean companies are adopting the technology to transform and upgrade their businesses. More and more university students in the country are starting their own blockchain businesses after graduation in the hope of making their first fortune.”“The integration of Klaytn into ONTO is another major breakthrough of Ontology in the Korean market. Klaytn is the global public blockchain project of Kakao, a Korean social media giant with hundreds of millions of users. Klaytn now supports a variety of ecosystems and can help us integrate with various industries. We will announce more Korean companies from the traditional industries to join as Ontology nodes in Q3 and Q4 of this year and Korean users will then be able to stake into them and thus participate in co-building the Ontology ecosystem.”Jesse ended his speech on a positive note, saying that: “in the midst of a speculative market, Ontology differentiates itself by taking a down-to-earth approach to developing our technology and promoting our brand. We think it is more important to let more people learn about us. We are pleased to see that our first media conference in Korea garnering wide attention from the press, making it the most influential media conference in the blockchain sector so far. Moving forward, Ontology is looking forward to working with the Korean media and business partners. You will be able to learn more about Ontology in the upcoming Global University Workshop. Stay tuned!”About KlaytnKakao’s global public blockchain project Klaytn is an enterprise-grade, service-centric platform that brings user-friendly blockchain experience to millions. It combines the best features of both public blockchains (decentralized data & control, distributed governance) and private blockchains (low latency, high scalability) via an efficient ‘hybrid’ design. Klaytn is secured by participation from numerous highly-reputable brands around the globe, working together to create a reliable business platform atop a robust system of decentralized trust. Klaytn enables businesses and entrepreneurs today to capture value using blockchain technology.Learn more here: https://www.klaytn.com/Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInONTO Korean Version Released and Will Support Kakao’s Klaytn Soon was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 09. 11

Ontology Makes Strategic In...

Ontology is pleased to announce a strategic investment in Vid Inc., a social video platform scheduled to launch publicly later this year. Vid is a social video platform focused on video editing. It allows users to use its platform to create videos and record their precious moments based on blockchain technology.As part of the deal, Vid will use Ontology’s blockchain technology to power transactions within its application. In addition to technical support, Ontology will assist Vid with various promotional and marketing campaigns across the Asia Pacific region.Li Jun, Founder of Ontology, met the founders of Vid (Jag and Josh Singh) in Korea earlier this year on the set of BlockBattle, a popular TV show in Korea that highlights the most lucrative blockchain-enabled projects around the world. Li Jun was a judge on the show and Vid was a contestant. Vid finished the competition in 2nd place as the runner up, and Li Jun was impressed by Vid’s vision and ecosystem model. Jag and Josh Singh also learned about the high performance of the Ontology public chain and expressed their interest in using Ontology’s platform and technology to provide more functionalities for global users.When asked about the strategic nature of the deal, Jag Singh said, “We are delighted that Ontology sees the value in what we are building at Vid. Our platform is showing early signs that it could be one of the largest consumer-facing integrations of blockchain technology to-date. With Ontology’s help, we believe we can make that vision a reality. Their entire staff has been supportive and energized as we march toward our public launch. This partnership will surely help both Vid and Ontology build a reputation as trailblazers in our respective industries.”Li Jun added, “Ontology is devoted to providing the infrastructure to help companies in different sectors adopt the blockchain technology easily and efficiently. Vid’s vision, which is giving the ultimate control of data back to its users, fits well with ONT ID, our decentralized identity. With its popular video application and big user base, Vid can also help us reach more users. I believe this investment will prove to be a win-win for both sides. On a side note, recently, we held the Korea Media Conference and shared our new vision of ‘TRUST Redefined’. Vid’s popularity in Asia can, therefore, be very valuable for us. We look forward to seeing good results coming out of this investment and welcome more partners to join the Ontology trust ecosystem.”About Vid Inc.Vid is a next-generation video journaling application that gives ultimate control to its users. Data is secured through zero-knowledge encryption, so only the user can access their content. Blockchain technology powers the company’s internal VID Token, which is a digital currency used to transfer value across the network. Content creators can earn VID Tokens when other users view their videos. Brands and advertisers can also pay content creators directly with the VID Token, without Vid taking a cut.The company has developed proprietary technology that leverages AI and machine learning techniques to automatically edit clips to the beat of the music, identify the most relevant parts of a clip, speed up and slow down content, and apply filters that give the final product a polished and professional feel. Vid holds two patents that protect its technology, with several others are in review. The company is headquartered in Los Angeles, with satellite offices in Korea, Hong Kong, Singapore, and the Cayman Islands.For more information, visit https://vid.camera.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / Discord/Telegram(Korean)/NaverTwitter / Reddit / Facebook / LinkedInOntology Makes Strategic Investment in Social Video Platform Vid was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 09. 10

“TRUST Redefined” Explained...

“TRUST Redefined” Explained by Ontology’s FounderThe Ontology Korea Media Conference was held on August 30th in Gangnam District, Seoul. This invitation-only event is co-organized by Block72, a leading Korean blockchain consulting firm, and Standard Tokenization Protocol, a decentralized network for asset tokenization.Li Jun, Founder of Ontology, attended the media conference and elaborated on what makes Ontology a new generation public blockchain and a distributed trust platform from the angles of performance, business needs, digital economy and the real economy.Li Jun explained that “what the traditional Internet offers is centralized trust under which users’ data ownership is unclear. Centralized trust is based on third-party service providers, thus lacking openness and transparency. As a result, users’ data is likely to be abused without their permission or knowledge.“On the contrary, the Ontology trust network framework enables multi-dimensional decentralized trust, including technical, legal and social trust. To address the issues above, we hereby present our new vision —— “TRUST Redefined.”In response to the questions from the press at the media conference, the Ontology team further explained that ‘TRUST Redefined” covers three aspects. First, technology-wise, Ontology has released sharding, cross-chain, DDXF (distributed data exchange framework) and other core technologies, and has launched the TestNet for global developers.Product-wise, Ontology has released ONTO 2.0, its comprehensive wallet client, which integrates its decentralized identity framework ONT ID, dApps, and wallet all in one, thus achieving the strategic goal of “Ready for all Businesses.”Third, by integrating its technology into various business scenarios, Ontology is able to bring wide adoption of its technologies, which will further promote the decentralization of traditional industries. In Ontology’s open and trust ecosystem, with the Ontology communities covering 19 languages, our partners can receive technical, product and marketing support from us to jointly build a global trust ecosystem.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / Discord/Telegram(Korean)/NaverTwitter / Reddit / Facebook / LinkedIn“TRUST Redefined” Explained by Ontology’s Founder was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 09. 08

Ontology will Show its Bloc...

The Shanghai Art Fair 2019 (23rd) will be held from September 13–15 (VIP preview day on Sep. 12) at Shanghai Mart and Shanghai Convention & Exhibition Center of International Sourcing(CISP), which coincides with the traditional Chinese Mid-Autumn Festival that falls on Sep. 13. During the Art Fair, Ontology will invite 20 ecosystem partners to a VIP wine party where the guests will have the opportunity to appreciate contemporary fine arts up close, including some of Pablo Picasso’s works, and discuss Ontology’s blockchain solution for the authentication, tracing, and trusted transaction of artworks.NU ASSIS, 1962 by Pablo PicassoThe Art Fair this year will see more than 5,000 works of art from 110 galleries and art institutions in 16 countries and regions, including China, Korea, the US, the UK, Germany, France, Japan, Austria, Malaysia, etc. The works that will be on display range from paintings, sculptures, installations, videos, and public programs. The genres include modern and contemporary art, classical oil paintings, the new genre of ink wash paintings and some rarely-seen artworks in other art exhibitions, altogether offering a rich and immersive art pageant for collectors and art lovers.ETUDE POR L´HOMME AU MOUTON, 1967 by Pablo PicassoMr Chu, General Manager of the Shanghai Art Fair, will join well-known artists and collectors from all over the world at the VIP wine party. Guests will be able to meet world-famous artists face-to-face and learn about how Ontology’s blockchain solution can help ensure the authentication and traceability of artworks and the trust of artwork trade. Ontology will also show you how blockchain technology can facilitate the art industry in ways unknown before, for example, in artwork securitization.EL NOVIO APAÑAO, 2016 by JAVIER YEPESGet in touch with us to win a free ticket if you happen to be in Shanghai during the Art Fair.About Shanghai Art FairShanghai Art Fair, established in 1997, has been successfully held under the support of Saulterretimized art event, which not only bridged the gap between the world and Shanghai, the general public and the art industry but also shaped a paradigm for the domestic art fairs.Art galleries, organizations and agencies from more than 20 countries and regions have participated in this lively art exchange during the past 2 decades. Many original artworks from world-class masters, such as Pablo Picasso, Rembrandt, Marc Chagall, Salvador Dalí, Auguste Renoir, Claude Monet, Qi Baishi, Xu Beihong, Zhang Daqian, made the debut in China or Asia at Shanghai Art Fair. The number of spectators reached 60,000 and the turnover in 2013 exceeded 21 million USD. It has now become one of the largest and most globalized art fairs in Asia.Find more information here: Shanghai Art FairFind Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology will Show its Blockchain Solution for Art Industry at Shanghai Art Fair was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 09. 06

How to Develop Wasm Contrac...

Since the Ontology Wasm was launched on the Ontology TestNet, it has received wide attention from community developers as this technology reduces the cost of moving dApp contracts with complex business logic onto the blockchain, thus greatly enriching the dApp ecosystem.In a previous article, we introduced how you can develop Wasm contract with Rust. In this article, we will give two examples to show you how to develop Wasm contract with C++ on Ontology.1. Hello WorldLet’s start with Hello World:#include<ontiolib/ontio.hpp>#include<stdio.h>using namespace ontio;class hello:public contract { public: using contract::contract: void sayHello(){ printf("hello world!"); }};ONTIO_DISPATCH(hello, (sayHello)); 1.1 Contract EntryThe Ontology Wasm CDT compiler has encapsulated the entry and parameter parsing so that developers do not need to redefine entry methods. Then developers need to define the API of the contract, which is the method of how smart contract provides services.ONTIO_DISPATCH(hello, (sayHello));In the example above, we only support sayHello method for the moment:printf("hello world!");“Hello World!” will be printed out as debug information in the node log. In real-life use, printf can only be used for debugging while a true smart contract needs to realize more complex functions.1.2 Smart Contract APIOntology Wasm provides the following API to interact with the blockchain back-end:2. Red Envelope ContractNow let’s take a look at a more complex example to see how to use these APIs to develop a complete Wasm smart contract.For example, we often use some apps, such as WeChat, to send money to our friends via virtual red envelopes or receive money from them. The money you received will be added to your WeChat account.Now let’s create a smart contract similar to this. Users can use this contract to send ONT, ONG, or OEP-4 assets via virtual red envelopes to their friends, who can then transfer the assets into their wallet accounts.2.1 Create ContractFirst, we need to create the source file of the contract. Let’s name it redEnvelope.cpp for now. We need three APIs for this contract:createRedEnvelope: Create red envelopequeryEnvelope: Query red envelope informationclaimEnvelope: Claim red envelope#include<ontiolib/ontio.hpp>using namespace ontio;class redEnvlope: public contract{}ONTIO_DISPATCH(redEnvlope, (createRedEnvlope)(queryEnvlope)(claimEnvelope));Now we need to store some key data in the storage. In the smart contract, data is saved in the context of the contract in the form of KV and we need to add a prefix to the KEY of the data for later query. We have defined three prefixes below for your use:std::string rePrefix = "RE_PREFIX_";std::string sentPrefix = "SENT_COUNT_";std::string claimPrefix = "CLAIM_PREFIX_";Since the contract supports both ONT and ONG, two of Ontology’s native assets, we can predefine their contract address. Unlike a standard smart contract, the contract address of the Ontology native contract is fixed and does not derive from the hash of the contract code.address ONTAddress = {0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,1};address ONGAddress = {0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,2};We need to save the information about the red envelope in the contract, such as asset information about the red envelope (token contract address, the total amount of the red envelope, and the number of red envelopes).struct receiveRecord{ address account; //User address asset amount; //Received amount ONTLIB_SERIALIZE(receiveRecord,(account)(amount)) }; struct envlopeStruct{ address tokenAddress; //Token asset address asset totalAmount; //Total amount asset totalPackageCount; //Total number of red envelope asset remainAmount; //Remaining amount asset remainPackageCount; //Remaining number of red envelope std::vector<struct receiveRecord> records; //Received records ONTLIB_SERIALIZE( envlopeStruct, (tokenAddress)(totalAmount)(totalPackageCount)(remainAmount)(remainPackageCount)(records) ) };Please note that below is the macro operation defined by Ontology Wasm CDT and used for serialization prior to struct storage.ONTLIB_SERIALIZE(receiveRecord,(account)(amount))2.2 Create Red EnvelopeNow we have done the preparation work, let’s start developing the API logic.1. When you create a red envelope, you need to specify the address of the owner, the number and amount of red envelopes, and asset contract address:bool createRedEnvlope(address owner,asset packcount, asset amount,address tokenAddr ){ return true; }2. Check if it has the signature of the owner, otherwise rollback transaction and exit:ontio_assert(check_witness(owner),"checkwitness failed");NOTE: ontio_assert(expr, errormsg): when expr is false, error is returned and exited.3. If the asset in the red envelope is ONT, since ONT is indivisible (the minimum is 1 ONT), the amount of the red envelope must be larger or equal its number to ensure there is at least 1 ONT in each red envelope:if (isONTToken(tokenAddr)){ ontio_assert(amount >= packcount,"ont amount should greater than packcount"); }4. For the owner of each red envelope, we need to record the total number of red envelopes he sends:key sentkey = make_key(sentPrefix,owner.tohexstring());asset sentcount = 0;storage_get(sentkey,sentcount);sentcount += 1;storage_put(sentkey,sentcount);5. Red envelope hash is generated, which is the only ID that labels this red envelope:H256 hash ;hash256(make_key(owner,sentcount),hash) ;key rekey = make_key(rePrefix,hash256ToHexstring(hash));6. Transfer the assets into the contract based on the types of assets. self_address() can get the address of the contract that is being executed, we then transfer a designated token amount into the contract based on the type of token users entered:address selfaddr = self_address();if (isONTToken(tokenAddr)){bool result = ont::transfer(owner,selfaddr ,amount);ontio_assert(result,"transfer native token failed!");}else if (isONGToken(tokenAddr)){bool result = ong::transfer(owner,selfaddr ,amount);ontio_assert(result,"transfer native token failed!");}else{std::vector<char> params = pack(std::string("transfer"),owner,selfaddr,amount);bool res; call_contract(tokenAddr,params, res );ontio_assert(res,"transfer oep4 token failed!");}NOTE 1: for ONT and ONG, Ontology Wasm CDT provides ont::transfer API for asset transfer; for OEP-4 assets, you need to transfer using the regular cross-contract call method.NOTE 2: Similar to a regular wallet address, the contract address can accept any type of assets. However, the contract address is generated by the compiled binary code hash and thus does not have a corresponding private key and is unable to the assets in the contract. If you have not set the of the assets, then you will not be able to control these assets.7. Save contract information in the storage:struct envlopeStruct es ;es.tokenAddress = tokenAddr;es.totalAmount = amount;es.totalPackageCount = packcount;es.remainAmount = amount;es.remainPackageCount = packcount;es.records = {};storage_put(rekey, es);8. Send the event of red envelope creation. This is an asynchronous process for calling the smart contract and the contract will send an event to notify the client of the execution result. The format of the event can be determined by the contract writer.char buffer [100];sprintf(buffer, "{\"states\":[\"%s\", \"%s\", \"%s\"]}","createEnvlope",owner.tohexstring().c_str(),hash256ToHexstring(hash).c_str());notify(buffer);return true;And voila, a red envelope is created. Now let’s see how to query red envelope information.2.3 Query Red EnvelopeThe logic of the query is quite simple, you only need to get and format the information in the storage and then return:std::string queryEnvlope(std::string hash){key rekey = make_key(rePrefix,hash);struct envlopeStruct es;storage_get(rekey,es);return formatEnvlope(es);}NOTE: For read-only operations of the smart contract (e.g. query), you can read the result through pre-exec. Unlike regular contract call, pre-exec does not require a wallet signature and thus does not cost ONG. Having done this, other users can now claim the red envelope with the hash (red envelope ID).2.4 Claim Red EnvelopeNow we have successfully transferred the assets into the smart contract, you can then send the ID to your friends and ask them to claim the red envelope.1. To claim the red envelope, you need to enter your account and red envelope hash:bool claimEnvlope(address account, std::string hash){return true;}2. Likewise, the signature of your account will be checked to ensure you are the owner of the account and each account can only claim once:ontio_assert(check_witness(account),"checkwitness failed");key claimkey = make_key(claimPrefix,hash,account);asset claimed = 0 ;storage_get(claimkey,claimed);ontio_assert(claimed == 0,"you have claimed this envlope!");3. Check if the red envelope has been claimed according to the information the hash obtained from the storage:key rekey = make_key(rePrefix,hash);struct envlopeStruct es;storage_get(rekey,es);ontio_assert(es.remainAmount > 0, "the envlope has been claimed over!");ontio_assert(es.remainPackageCount > 0, "the envlope has been claimed over!");4. Create a claim record:struct receiveRecord record ;record.account = account;asset claimAmount = 0;5. Calculate the claimed amount. If this is the last envelope, then the number is the remaining amount, otherwise, the claimed amount is determined by the random number calculated by the hash of the current block and the red envelope information is updated:if (es.remainPackageCount == 1){claimAmount = es.remainAmount;record.amount = claimAmount;}else{H256 random = current_blockhash() ;char part[8];memcpy(part,&random,8);uint64_t random_num = *(uint64_t*)part;uint32_t percent = random_num % 100 + 1;claimAmount = es.remainAmount * percent / 100;//ont caseif (claimAmount == 0){claimAmount = 1;}else if(isONTToken(es.tokenAddress)){if ( (es.remainAmount - claimAmount) < (es.remainPackageCount - 1)){claimAmount = es.remainAmount - es.remainPackageCount + 1;}}record.amount = claimAmount;}es.remainAmount -= claimAmount;es.remainPackageCount -= 1;es.records.push_back(record);6. A corresponding amount of assets is transferred to the account that has claimed the red envelope according to the calculation result:address selfaddr = self_address();if (isONTToken(es.tokenAddress)){bool result = ont::transfer(selfaddr,account ,claimAmount);ontio_assert(result,"transfer ont token failed!");} else if (isONGToken(es.tokenAddress)){bool result = ong::transfer(selfaddr,account ,claimAmount);ontio_assert(result,"transfer ong token failed!");} else{std::vector<char> params = pack(std::string("transfer"),selfaddr,account,claimAmount);bool res = false; call_contract(es.tokenAddress,params, res );ontio_assert(res,"transfer oep4 token failed!");}7. Record the claim information and write the updated red envelope information back to the storage and send the notification event:storage_put(claimkey,claimAmount); storage_put(rekey,es); char buffer [100]; std::sprintf(buffer, "{\"states\":[\"%s\",\"%s\",\"%s\",\"%lld\"]}","claimEnvlope",hash.c_str(),account.tohexstring().c_str(),claimAmount); notify(buffer); return true;As is mentioned above, this contract can only transfer the assets out of the contract through claimEnvelope API. Therefore, the assets in the contract are safe since no one can withdraw the assets without certain requirements. And this is a simple red envelope contract logic, you can find the complete contract code here.2.5 Contract TestThere are two ways to test the contract:1. Use CLIYou can find it here2. Use Golang SDKYou can find it here3. ConclusionIn this article, we introduced how you can write a complete Ontology Wasm smart contract and call API to interact with the blockchain back-end. We still need to solve the privacy issue if we want to make it a product on the market since anyone can obtain the red envelope hash by monitoring the contract event, which means anyone can claim the red envelope. A simple solution to this issue is designating which accounts can claim the red envelope when creating it. If you are interested, you can also test it.As a leading public blockchain, Ontology is among the first to support Wasm contract. We will continue to contribute to the Wasm technology and welcome more Wasm enthusiasts to join our developer community.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInHow to Develop Wasm Contract with C ++ on Ontology was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 09. 03

A Breakdown of The Ontology...

ForewordOntology uses the VBFT consensus algorithm, which can be considered a PoS algorithm. Therefore, in the Ontology system, the three types of tokens mentioned in the previous article, including governance token, security token, and utility token are all necessary. Ontology adopts ONT as the governance token and ONG as the utility token. Ontology is able to integrate stable digital currency and has launched stable coin PAX on its blockchain.Our focus today is on the ONT/ONG dual-token model and its logic for serving the Ontology infrastructure.1.1 Ontology Dual-Token SystemThe Ontology dual-token design uses ONT for staking and ONG as gas. In the Ontology infrastructure design, ONT is used as the staking tool, and the time cost of staking and the operating costs of the nodes are considered to be inputs and ONG is distributed as revenues. ONG is the utility token used as a value anchoring tool for on-chain applications.Ontology’s VBFT consensus algorithm is a PoS consensus algorithm and its advantage is that staking has the functions of both the utility token and governance token:• When the market is booming, people will prefer to use it as a utility token, which brings more liquidity; when the market is unstable, the function of the governance token allows people to “lock” or stake their token to avert risks;• The liquidity caused by the utility token function causes instability in stake value, which is a particular concern for PoS public chains. In this case, the design of Ontology’s dual-token system, which generates profits for staking but decouples volatility, would be much better.Ontology decouples ONT and ONG to alleviate the influence of violent fluctuations of the native “asset” value on the gas fee.The potential positive logic is as follows:• ONT is for staking and ONG is used in the transactions on the chain;• Control the speed at which ONG is generated to serve the demand of the on-chain business. As the demand increases, the total amount of ONG transaction fees increases, and the nodes can receive more ONG revenue;• The nodes receive ONG, and in order to pay for the operating costs, they will sell the ONG on the market. This promotes the circulation of the ONG. As the number of on-chain applications increases, the ONG circulation rate also increases, which in turn drives up the ONG return for node staking. As a result, it is safe to expect the value of ONT will rise.To put it simply, the high circulation rate of ONG is a result of a huge number of on-chain applications, which can increase the returns on ONT staking. Moreover, as the amount of ONG generated each year will be reduced proportionally, the value of ONG will accordingly increase. As ONG appreciates stably, the consensus node can independently lower the gas fee accordingly.1.2 Ontology Token Design and Governance ModelThe blockchain nodes are the foundation of the platform. The relationship between nodes still meets the governance requirements of “competitive cooperation”. The token model of the Ontology infrastructure needs to serve the governance model.• The current challenge for PoW is not leveling the playing field for the nodes, but a waste of resources;• The challenge for PoS is not a waste of resources, but the so-called “oligarch effect”.In order to avoid waste of resources, Ontology chose a PoS consensus algorithm for network governance, and the algorithm of Ontology token is to avoid the “oligarch effect”.Ontology divides the consensus group into the consensus network and non-consensus network, which take up 50% each. The non-consensus network receives ONG revenue based on the stake ratio, while the Triones incentive curve in the economic model of the consensus network is designed to prevent stake oligarch, and determines whether ONT is locked up or circulates through node consensus. For nodes with a large stake size, too much staking will reduce the revenue and they will choose to release part of the stake to be circulated or split itself into multiple node “miners”, which accelerates the formation of a sufficiently distributed network and can thus prevent monopoly.In this way, it not only shares some similarities to PoW but also avoids the waste of resources to a certain extent.1.3 Design of the Ontology Incentive CurveThe logic of Ontology’s Triones incentive curve is shown in the figure below.To put it simply:The blockchain network tends to be stable and the nodes are equal in performance. Each node is compensated based on the stake size and point A is in line with the interests of network nodes to maximize benefits;Receive more stake through network promotion (point B);Meet the need to increase the circulation of ONT (point C);Prevent malicious competition by any single node (point D/D’).At present, the average position of the Ontology incentive curve is set at point B, which is the point that promotes ONT staking.1.4 Dual-Token System is a Better SolutionThe blockchain is currently in a period of rapid growth. On the one hand, the enormous value of “economic governance” of public chains has been more widely recognized and has resulted in a division of labour in different businesses. The scaling and performance issues of public chains are proposed to help the blockchain infrastructure meet business needs; on the other hand, it exposes the lack of diversity of on-chain applications, and the lack of public chain business is a bigger problem. This is also the direction the blockchain industry is working towards: to seize high-value asset business and develop diversified businesses.The dual-token design not only ensures the development of the infrastructure system but also provides more services to justify the value of the infrastructure. Staking is both a fundamental governance model and can develop a range of value-based businesses.At present, there aren’t many types of applications on the Ontology blockchain and the entire blockchain industry is still in the stage of trial and error and cross-sector promotion. It is foreseeable that in the early stage, the gas revenue of the nodes is unable to cover their operating costs. Therefore, Ontology offers a node incentive plan (10,000,000 ONG is used as node incentives every year for the first three years) and ensures nodes can receive enough ONG revenue to cover the operating costs by the orderly expansion of the node network in the early stage.In addition, based on its infrastructure, Ontology’s DDXF solution enables traditional Internet applications to move to the Ontology platform and provides an effective technical support for the rapid development of on-chain businesses.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInA Breakdown of The Ontology Dual-Token Model was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 09. 01

A Sneak Preview of the Onto...

The Ontology Korea Media Conference will kick off on August 30th in Seoul. This invitation-only event is co-organized by Block72, a leading Korean blockchain consulting firm, and Standard Tokenization Protocol, a decentralized network for asset tokenization.Here’s a sneak peek at the media conference:1. Over 20 mainstream Korean media outlets are invited to attend the media conference, providing full media coverage;2. ONTO, Ontology’s official wallet client, available in the Korean language for the first time, will be released. We will also announce a well-known Korean corporation joining the Ontology ecosystem;3. The Ontology core team will reveal the details about the Ontology Global University Workshop, the largest university blockchain tour so far, which will cover top universities in Korea, the US, Germany, Russia, and Spain. The team will also update on the latest developments of Ontology’s technology, products, and ecosystem;4. Ontology-incubated project MovieBloc will unveil its new decentralized movie platform MovieBloc Beta and reveal more features of the official service;Ontology’s ecosystem partner Muzika will also unveil its new game MUZIQLO, the first blockchain rhythm game.Li Jun, Founder of Ontology, will attend the media conference to elaborate on the core value of “TRUST Redefined” for the first time. He will look back on the strategic vision of “Ready for all Businesses” and share his thoughts on how sharding, cross-chain, DDXF, and other core technologies of Ontology enable trust collaboration and build a global trust ecosystem with our global partners.See you in Seoul!서울에서 만나요!Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / Discord/Telegram(Korean)/NaverTwitter / Reddit / Facebook / LinkedInA Sneak Preview of the Ontology Korea Media Conference was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 29

An Introduction to Token Mo...

1.1 The Business Value of BlockchainBlockchain provides a solution to achieve trust through technology in two aspects:Tamper-proofThe block is produced by reaching a consensus from a large group of validator nodes, therefore tampering with on-chain data requires altering the ledgers of the majority of nodes, which makes the cost of malicious behaviors on the blockchain so high that no sensible person would consider doing that.TraceableTraceability means that the process of modifying and transferring information on the chain is fully recorded. It is traceable from the current state of information to the state when the information was first recorded. If the information is fake, then the process of forgery will be traced back to the moment when it is recorded on the chain.There are many validator nodes on the blockchain network. The trust is realized by the consensus among most of the validators and not based on any single honest node. The blockchain governance model punishes dishonest nodes by making the cost of malicious behaviors higher than the benefit it brings.Given the need to maximize the s of blockchain nodes and the state of a large number of node consensus accounting, competitive cooperation is formed. This is the basis for the blockchain to provide technical trust.This state of competitive cooperation is actually the business environment we are in today.Information asymmetry is often the reason why some parties make extra profit, which is not a healthy model. In an environment where information is fully transparent, partners can only gain more profit by working together to increase the market value of the entire industry. This is the business value provided by the blockchain.1.2 Basic Token System of BlockchainBusiness cooperation is about profit, and the distribution of profit needs to follow the “ledger” on the blockchain. There are two ways to guarantee the trustworthiness of blockchain:1. Legal guarantee: the law guarantees that profits are distributed according to the ledger;2. Economic guarantee: profits are distributed as the transactions are being recorded in the ledger.The nodes of public blockchains cover the entire world, and it is difficult to have a universally-applied legal system across different jurisdictions. As a result, the only viable option is economic guarantee. When it comes to accounting results and profit attribution, we need a technical tool to ensure “atomicity” and “consistency”, which is the token technology on blockchain platforms.Token has two functions:• Used as a means of measuring economic value to ensure business behaviors;• As an economic tool for measurement during the operation of the blockchain.Correspondingly, there are two scenarios in which the public chain token is used to distribute profits:• The blockchain nodes record the transactions on the chain to obtain a corresponding amount of rewards;• The blockchain serves as a platform for measuring the business behaviors and needs on the chain.For public blockchains, technical prowess aside, the biggest difference blockchain projects bring is the design of different governance models, which implement different consensus algorithms based on the node network assumption. The token design needs to serve the governance model and the consensus algorithm.The consensus algorithm serves the governance model. For public chains, there are mainly PoS and PoW:• Based on the governance assumption of the PoW consensus algorithm, the node receives the equivalent return based on the work they do, which is clear and straightforward;• Based on the PoS consensus algorithm, nodes participate in governance and form a resolution by voting, which requires an additional vote-counting tool (stake). In the design of the blockchain governance model, the stake has value, and nodes participate in governance through staking, which will be used as the cost for malicious behaviors. The stake has value and governance solutions and governance results also need to be recorded on the chain, so it is also a type of token.In this way, there will be three types of tokens in the blockchain using PoS: node profit tools, business activity tools, and governance tools. In fact, node profit is also a type of business activity, so they can be integrated into one tool.1.3 What is the dApp Token ModelThe blockchain serves those who can maintain a benign competitive environment and therefore can bring about countless dApps with business models. However, there are a limited number of blockchains and dApps often issue different types of tokens. Why? We can see it as a competition between business models and fundraising efforts.Traditional investment and financing activities need to be supported by practical business models and investment logic. The blockchain uses the token technology and the token value reflects the value of the project, which lowers the threshold of investment and financing. There have been many new “investment and financing logics”, which is what we often say, the secondary market comes first. For example, at the end of the day, ICO is actually a form of crowdfunding under loose or no regulation.On the one hand, the secondary market allows more retail investors to invest and lowers the threshold for investment; on the other hand, given the lack of operational data support from business models, it was impossible to tell apart investors and speculators so there are potential risks that investment and fundraising market might be undermined, (for example, by malicious fundraising behaviors).The token design of many dApp projects is intended for ICO. Many countries are putting policy restrictions and legal compliance requirements on ICO.1.4 Utility TokenSo far, the most common application scenario of blockchain is in the financial sector. The existing economic system is mainly based on fiat currency. Therefore, the token system and the fiat currency system need a “bridge” to anchor their value. This type of bridge is backed by fiat currency and also supports tokens, thus it can be called an application that provides token service. This type of token is mainly the stable digital currency.1.5 SummaryAt present, blockchain tokens can be put into the following four categories:• Governance token: A governance tool for the PoS consensus algorithm that has the characteristics of tokens and uses token technology.• Utility token: A value tool within the blockchain system that serves the business applications on the chain.• Security token: A value tool designed to serve the business model of the on-chain applications and the secondary market.• Application token: Application services in the form of token, usually used as a bridge between the blockchain-based economic system and the existing economic system, such as stable digital currency.Compared to existing economic tools, utility token is similar to the fiat currency of the economic system; security token is similar to the investment instrument such as securities and equity; application token includes the stable digital currency, and is mainly to link the economic system and the tokenomics system.In a complete blockchain system, the above four types of tokens are indispensable, and the use scenarios complement each other. Only the tokens that people can actually use are the tools that have real commercial compliance value. For each type of token, it is necessary to think about whether its issuance and business model make sense.In the next article, we will elaborate on the Ontology dual-token model.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInAn Introduction to Token Models in the Blockchain World was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 27

How to Develop Wasm Contrac...

Since the Ontology Wasm was launched on the Ontology TestNet, it has received wide attention from community developers as this technology reduces the cost of moving dApp contracts with complex business logic onto the blockchain, thus greatly enriching the dApp ecosystem.Ontology Wasm currently supports development in both Rust and C++ languages. The Rust language has better support for Wasm, and the generated bytecode is simpler, which can further reduce the cost of contract calls. So how do you use Rust to develop a contract on Ontology?Develop Wasm Contract with RustCreate a ContractCargo is a good project creation and package management tool for developing Rust programs that helps developers better organize code and third-party library dependencies. To create a new Ontology Wasm contract, just execute the following command:The project structure it generates is:The Cargo.toml file is used to configure project basic information and dependent library information. The [lib] section in the file must be set to crate-type = [“cdylib”]; the lib.rs file is used for writing contract logic code. In addition, you need to add dependency settings in the [dependencies] section of the configuration file Cargo.toml:With this dependency, developers can call interfaces that interact with the Ontology blockchain and tools such as parameter serialization.Contract Entry FunctionEach program has an entry function, such as the main function we commonly see, but the contract does not have a main function. When developing a Wasm contract with Rust, the invoke function is used by default as the entry function for contract execution. The function name in Rust will be confused when compiling the Rust source code into bytecode that the virtual machine can execute. To prevent the compiler from generating extra bytecode and to reduce the contract size, the invoke function adds the #[no_mangle] annotation.How does the invoke function get the parameters for transaction execution? The ontio_std library provides the runtime::input() function to receive parameters for transaction execution. Developers can use ZeroCopySource to deserialize the received byte array. Amongst them, the first byte array that is read out is the name of the invoke method, and then the method parameters.How is the contract execution result returned? The runtime::ret function provided by the ontio_std library returns the result of the method execution.A complete invoke function is as follows:Contract Data Serialization and DeserializationIn the contract development process, developers always encounter serialization and deserialization problems, that is, how to save a struct type of data to the database and how the byte array read from the database is deserialized to obtain struct type data.The ontio_std library provides the Decoder and Encoder interfaces for serializing and deserializing data. The fields of the struct structure also implement the Decoder and Encoder interfaces so that the struct can be serialized and deserialized. Sink instances are required when serializing various data types. The Sink instance has a set type field buf, which stores byte type data, and all serialized data is stored in buf.For fixed-length data (for example: byte, u16, u32, u64, etc.), the data is directly converted into a byte array and then stored in buf; for data of non-fixed length, the length needs to be serialized first, and then the D\data (such as unsigned integers of unknown size, including u16, u32 or u64, etc.).Deserialization is just the opposite. For every serialization method, there is a corresponding deserialization method. Deserialization requires the use of Source instances. This instance has two fields, buf and pos. Buf is used to store the data to be deserialized, and pos is used to store the current read position. When reading a specified type of data, if you know its length, you can read it directly; for data of unknown length, read the length first, and then read the content.Accessing and Updating Data on the ChainOntology-wasm-cdt-rust has encapsulated the operation method of the on-chain data, which is convenient for developers to implement operations such as adding, deleting, changing, and querying data on the chain as follows:Ø database::get(key) is used to query data from the chain, and key requires the implementation of the AsRef interface.Ø database::put(key, value) is used to store data on the chain. The key requires the implementation of the AsRef interface and the value requires the implementation of the Encoder interface.Ø database::delete(key) is used to delete data from the chain, and the key requires the implementation of the AsRef interface.Contract TestingWhen implementing contract methods, we need to access the data on the chain and need the corresponding virtual machine to execute the contract bytecode, so it is generally necessary to deploy the contract on the chain for testing. But such a test method is troublesome. To make it easier for developers to test contracts, the ontio_std library provides a mock test module. This module provides the simulation of the data on the chain, making it easy for developers to unit test the methods in the contract. Specific examples can be found here.Contract DebuggingDevelopers can use console::debug(msg) to output debugging information during contract debugging. The msg information will be printed in the node log. There is a precondition that the log level needs to be set to debug mode when the Ontology local test node is started.In addition, developers can also use runtime::notify(msg) to output relevant debugging information during contract debugging. This method will save the printed information to the chain and can be queried from the chain via the getSmartCodeEvent method.As a leading public chain, Ontology is one of the first projects that support the Wasm contract and is doing its bit to develop Wasm technology. At the same time, we also welcome more enthusiasts of Wasm technology to join the Ontology developer community to build a technological ecosystem.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInHow to Develop Wasm Contract with Rust on Ontology was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 25

MovieBloc Service Preview 3

This article is reposted from the MovieBloc official Medium account and has been slightly edited.With the launch of MovieBloc Beta Service approaching soon, the MovieBloc team would like to give a sneak peek of what they have been working on to the viewers who have been eagerly anticipating and cheering this project on. With that being said, the team has prepared “MovieBloc Service Preview 3”!Service Preview 1 includes the overview of Beta Service and preview 2 includes wallet function. Preview 3 will talk about ‘Individual theater” in MovieBloc Service.Individual TheaterOnce the official version of “Individual Theater” is launched, users will personally be able to curate movies. Through this service, users themselves can be curators by creating their own page and actively promoting movies based on their personal tastes or profit advantages on their personal page. Curators can select their own URL (e.g. http://moviebloc.com/CinemaParadise) and promote it on their SNS. Viewers that enter the service through this link will be reimbursed from the money they already transacted.Although there are no particular license or conditions needed to be a curator, curators that bridge promising and good movies to their appropriate audience will be considered more credible.MovieBloc will launch the Beta Service on August 26th, stay tuned!Find out more about MovieBloc here.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInMovieBloc Service Preview 3 was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 23

You can now buy ONT easily ...

Ontology has joined forces with Crypto Voucher, a leading platform that offers the easiest way to buy multiple cryptocurrencies, to allow users to buy ONT instantly with multiple payment methods. This cooperation will diversify users’ options in buying ONT token with fiat.Crypto Voucher will enable users to redeem their vouchers to ONT instantly in a very simple and seamless way. Crypto Voucher allows users to purchase their vouchers at their convenience with many payment options. The Crytpo Voucher introduction video explains how buyers can easily transfer value using the following methods:1. Buy onlineBuyers can simply visit the Crypto Voucher site, click “Buy Now” and enter the details of the purchase. They can buy from an online distributor or directly from Crypto Voucher and pay with their preferred payment option. Authorized online distributors offer a wide range of payment options.2. Buy locallyCrypto Voucher provides a map containing the locations of all local vendors that sell Crypto Voucher cards. Users can load the map to find the nearest reseller if they prefer paying with cash.3. Buy with a gift cardCrypto Voucher allows users to exchange other gift cards (e.g. Walmart card, iTunes gift card) for a Crypto Voucher card.Redeeming a Crypto VoucherAfter buying or receiving a Crypto Voucher card, buyers can easily redeem the value by simply clicking Redeem on the Crypto Voucher page and enter the details (card code and your email). They will then be shown the monetary value of the card and prompted to select the particular cryptocurrency they would like to get. Then they just need to fill in their wallet address and click Enter. It’s that simple.Andy Ji, Co-Founder of Ontology, commented on this cooperation as an important step towards attracting mainstream users to the crypto space. He stated that “it will enable the mainstream users to easily access the Ontology Network, play Ontology’s high-quality games, and explore the attractive financial services and the full potential of the project.’’‘’The Ontology Network is a great project with unlimited possibilities for all kinds of businesses and most importantly it is very easy to use. We’re very happy to work with the Ontology team towards simplifying the crypto space for everyone. ‘’Said Adel Ghouma, Chief Business Officer and Co-founder of Crypto Voucher.As Crypto Voucher becomes a partner in the Ontology ecosystem, Ontology ecosystem partners will further integrate this service to generate greater synergies. It is expected that Ontology users will get direct access to Crypto Voucher service within all Ontology official channels, such as ONTO wallet, as well as partners’ channels like Huobi wallet and Math Wallet among other 20 more partners. A gaming partner from the Ontology ecosystem mentioned that the simplicity of buying crypto in few clicks with Crypto Voucher will fuel the growth of the game and attract more users.For more information, please visit https://cryptovoucher.io/Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInYou can now buy ONT easily and instantly on Crypto Voucher was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 20

Minglechain is Now on the O...

Ontology is pleased to announce the partnership with Minglechain, the world’s first location-based social networking app for DLT/Blockchain professionals, companies and enthusiasts. Minglechain has already moved to the Ontology platform and users can now log in with ONT ID to try firsthand the various features Minglechain offers. This collaboration shows the strategic vision of both companies: the mass adoption of blockchain and cryptocurrency within a thriving ecosystem.Minglechain utilizes a location-based network that allows users to find specific contacts who can be engaged with through an intuitive messaging function. It has added the integration of the Ontology Decentralised Identity system amongst other features to improve the user experience. Minglechain’s MC token will also run on Ontology in order to achieve faster transactions.ONTO wallet integration will be added in the near future. The messenger wallet integration will use ONT, ONG, OEP-4 PAX, and Minglechain’s MC token for one-click payments in-app, allowing users to purchase tickets and access premium services at a discount.Since the launch of the Ontology Mainnet last year, a diverse and ever-growing blockchain ecosystem has emerged. The Ontology ecosystem will benefit from the inclusion of Minglechain’s vision of connecting blockchain professionals and enthusiasts en masse.About MinglechainMinglechain is the world’s first location-based networking app for DLT/blockchain professionals, companies and enthusiasts. its tailor-made search feature and intuitive messaging function can help users find the contacts they need with minimal effort. Users will also be kept up to date with networking opportunities such as events, making Minglechain a one-stop-shop for blockchain professionals.You can download the Minglechain app from the App Store/Google Play Store. For more information, please visit https://minglechain.com/Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInMinglechain is Now on the Ontology Blockchain was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 19

The Value of Information an...

What is the Value of InformationHave you ever wondered what is at the core of the blockchain network? We can see it as the assumption of node behaviors.The nodes in the network follow the assumption of the consensus algorithm and malicious nodes will be found out and punished, thus creating a trusted blockchain network and making the applications developed on the network also trustworthy.However, we have to admit that the node accounting behavior of the blockchain network will lead to redundancy to a certain extent. As a result, the cost of recording information onto the chain will be very high. Certain conditions need to be met if general businesses are to completely use blockchain smart contracts, so blockchain applications are more suitable for high-value transactions, among which finance is most notable.So, is finance the only application scenario of blockchain? The answer is obviously no.To be more specific, we need to look at what blockchain is originally about. The blockchain network creates a benign competitive business environment, in which many high-value business scenarios are intertwined, which is also a potential service scenario for the blockchain. As the information is gradually being processed and circulated, its value also increases and users have control over their valuable data as the core of self-sovereign user data.With users’ control over their own data, combined with blockchain’s tamper-proof and traceable features, the use and flow of data become transparent, and the value of users who own the data also increases. As a result, the identity of the data and user identity can be quantified. Further, with the development of IoT technology, machines can also own data and even identities.It is in this context that the identity system of “people, assets, things, and affairs” came into being.Identity SystemAt the end of the day, the Internet is the interconnection of information, and its value reflects the value of Internet information. The blockchain is built on top of the distributed system technology and also has the characteristics of the Internet. So we can make the assumption that the value of the Internet can be realized on the blockchain.The development of the Internet goes through two phases:• Web 1.0: The creators of the information are not the owners of the information. The information is owned by the centralized information service provider, and how the information is used thereafter is not even known to the creators of the information;• Web 2.0: With centralized platforms, a peer-to-peer communication network is created. The value metric of an Internet application translates into the value that users bring to the application.In this sense, the blockchain identity system is simply the decentralized version of the account system in the centralized Internet system.Ontology hopes to apply the distributed trust of the blockchain to the ordinary Internet applications through its identity system solution.For example: if you want to go to a foreign country, you need to show your identity, such as your student visa or tourist visa as you enter the country. Customs will ask for the proof of your identity, and if you don’t have it, you are not allowed to enter that country.Therefore, whether we should trust someone should be based on standard methods, rather than individual and arbitrarily decision. For many people, they can have many identities on the Internet. Some are real and some are fake, but people on the Internet are not even aware of this.The Ontology Identity System (ONT ID) provides a complete solution for the traditional Internet application account system, giving back the control of the account system from centralized service providers to users themselves who can also manage their social network with ONT ID.In our everyday lives, people are constantly producing and consuming data. The self-sovereign ONT ID allows users to have full control over their own data and the value of data and its potential market are indicative of the value of identity.ConclusionPeople will encounter different standards of trust in different social networks, which is precisely where the value of identity lies. Since you cannot be sure under what circumstances your identity will be valuable, the process of quantification is different from a fixed trust endorsement. When we choose to trust a person, it is because we are willing to believe that person, not because that person is endorsed by others. It can be said that, to a certain extent, this is a relationship determined by the buyer and seller. Virtual identity can be used to accumulate the credibility of identity during use. Then when you need to use it, you can use it directly, instead of building up your credibility from scratch all over again every single time.In the Ontology identity system, the virtual identity is created by the users themselves, not by other people, and users can reveal different identities or part of the virtual identity to others based on their own choice.Valuable identities use and in turn create value for application services. Different applications have different target user groups and need to be more precisely targeted. The Ontology identity system extends the financial scenarios in the blockchain to the broader Internet scenarios. As the value of identity becomes higher and higher, more and more users will use ONT ID, thus increasing the transactions on the Ontology blockchain. On-chain transactions need ONG as the utility token to motivate the node network and maintain the scale of the network. More ONG transactions will also help ONG circulate faster and increase the ONG rewards for ONT node staking while maintaining the ONG value. As a result, the ONT value will go up, which brings us back to the logic of Ontology’s dual-token model.In this article, we briefly introduced the identity system in the blockchain world and the Ontology identity system. In future articles, we will share more details about ONT ID.About the Ontology Research InstituteOntology set up the research institute in order to focus more on the research and development of core blockchain technology and strengthen the ability to explore, reflect on, and apply emerging technologies, as well as make contributions to the entire industry. At present, there is more than 10 R&D personnel in the Ontology Research Institute.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInThe Value of Information and Identity System in the Blockchain World was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 18

Why the Ontology Platform S...

ForewordI am not a fan of today’s dApp ecosystems, though I understand building a good dApp ecosystem takes time.I think there are some common issues with today’s dApp ecosystems:Low-quality products (bad user experience, product logic, and customer service)Unsustainable model (no stable source of income and sustainable operation model)Inexperienced team (no experience in team management and traditional apps)Moreover, most dApp developers today have only one thing in mind:They only want to make a quick buck from their dApps and do not have a solid product iteration and financial plan.Most dApp games can’t even find their target users:Think about it. Most dApps games wish to convert game players into users who will make transactions in their dApps and in turn play their games more. In reality, perhaps only one out of 100 users is willing to both play the game and make transactions. Surprisingly, most dApps are only focusing on this 1% of users.What’s more surprising, dApp platforms even encourage dApps to do so.The main aim of this article is to debunk the false claim of some dApp platforms that “they are the top 4 public blockchains because of the number of dApps and users on their platforms”. When you are not even clear about which token model works for your dApp ecosystem, whatever else you do will all be in vain. But some public chains even encourage dApps to falsify their data to support their thoroughly shaky claim.In this article, I want to show dApp developers what a good dApp ecosystem should look like and encourage them to start thinking about how to build better dApps so that there will be a win-win for dApp platforms, developers, and users.A Glance at Today’s dApp EcosystemsSince the emergence of the Internet and the prevalence of smartphones, application development has become a hot topic. As the blockchain technology catches on, developing dApps (decentralized applications) based on this technology has also become the choice for many developers.Why do developers develop applications? At the end of the day, they want their products to generate traffic and profit so they will have enough money to keep their projects running. The keywords here are traffic and profit.Currently, the main categories of dApps on public chains include:Gaming dApps: Gaming dApps can generate both traffic and profit. But the security and trust system is yet to be built. Overall good for the platform;Games: Games can generate neither traffic nor profit and are solely supported by the subsidies from the platform. Fake data is rampant and games are no good for the platform;DeFi: DeFi dApps can generate profit and support their development. Their mid-to-long-term operation capability is yet to be proven. Overall good for the platform;Utilities: Utility dApps can generate traffic but may have difficulty supporting themselves. Overall good for the platform in the middle and long term.To draw more developers, many public chain projects have rolled out their own dApp incentive plans. These plans are mostly the same in that they are aimed to attract more developers to develop dApps on their chains, which can bring more users and traffic, and in turn more transactions on the chains. On the other hand, why would developers want to develop dApps on these public chain platforms? Yes, they need the financial, operational, and marketing support from public chain projects. But another big reason is that they need the user base on these chains, whether they are technical users or token holders. In this way, dApp developers don’t need to worry about no one will use their dApps and they can generate traffic at low cost.Something is wrong here. Yes, you are right. The dApp platforms and dApp developers want exactly the same thing from each other.Now how could this possibly work out? Since dApp platforms can’t give dApp developers what they want and vice versa, it is impossible for them to work together, let alone generating traffic and profit.You might say this is not contradictory since they can generate some new users for each other and can share their resources. Let’s see how it works in reality.On public chain platforms with the single token model, we can think of two scenarios.§ Scenario 1:Since you need token to make transactions in dApps, when users use the dApps frequently, then according to the demand curve, the demand for the tokens will go up, thus the token price will rise.As token prices rise, users will not want to spend the token they bought on the open market in the dApps because doing so will increase their cost. As a result, no one will want to use dApps. With no traffic and profit, the dApps will die.§ Scenario 2:When both the token price and demand go up, the chances are transactions in the market will probably increase and thus push up the supply. According to the curve below, we can see that when both the supply and the demand are increasing, the token price remains unchanged.In this case, users would think that they can’t benefit from using the dApps and there is no potential profit in sight. With no users willing to use the dApps, developers will have no incentive to continue developing because they can’t see their profit increasing. As a result, the ecosystem will stagnate. With no profit and no product iteration, the dApps will eventually die.If the quality of a public chain depends on the number of dApps or the dApp ecosystem on it, as one project claims, then I don’t think this project can go very far under the above two scenarios.We can, therefore, come to the conclusion that only in the extreme case and under the assumption that the dApps are good with clear business logic and operation can they survive. However, in the early stages of the blockchain industry, this is next to impossible.Conclusion: the single token model is not suitable for the development of dApp ecosystem.What About Dual-Token Model?Under the dual-token model, the profits of dApp developers come from dApp users.Take Ontology’s dual-token model as an example. Ontology uses both ONT and ONG. The profits of dApps are in ONG, which is automatically generated for ONT holders for free. This means users are able to use the dApps almost without any cost. Moreover, in game or DeFi dApps, there is even a possibility of making a profit. Therefore, ONT holders will always have a free pass to the Ontology dApp platform and they can use the automatically generated ONG to contribute to the dApp ecosystem. When there are more transactions on the chain, the demand for ONG will go up and so will the price, thus driving up the price of ONT (as explained in my previous article about Ontology’s dual-token model). As a result, the assets of ONT holders will appreciate so that they can possibly earn more “free” ONG. Eventually, developers will have more profits to continue developing new dApps.Under the dual-token model, the problems under the two scenarios above will no longer exist and we will instead see a sustainable dApp ecosystem.You might ask what if the ONT price goes down? Would people still want to use the dApps on Ontology? If the ONT price falls, ONT holders will be more willing to stake their ONT into the Triones nodes to earn ONG rewards. Now when they have more ONG, why not use it in the dApps on Ontology?So I think the dual-token model will fit well into the dApp ecosystem and can achieve a win-win for dApp developers, users, and dApp platforms. dApp developers no longer need to scratch their heads and wonder how to make money out of users, which would be too difficult. All they have to do is to make a good profit with dApp platforms and users and focus on developing their dream dApps.You might say some dApps on Ontology are not as good as they cracked up to be. I agree. Just as I said before, Ontology can provide users with ONG to spend on dApps and easy access to dApps on our platform, but if your dApp is so bad that no one wants to use it, then there is really nothing we can do. After all, only when you are putting real effort into your products can you be recognized by users.I’d like to use the chart below to show why Ontology’s dual-token model is better for the dApp ecosystem:The Advantages of Ontology’s Dual-Token Model in One ChartAs we can see in the chart, under the dual-token model, each of the three parties reinforces each other, making a virtuous circle. As a result, there will be a win-win for all sides.AfterwordOntology will soon release its new dApp incentive scheme and we wish the new incentive scheme can usher in the dApp ecosystem 2.0 in which more phenomenal dApps will emerge.At the same time, Ontology will also launch a platform similar to that of Blockstack for incubating high-quality dApps. We will work with universities, technical communities, and traditional game developers, such as ROIT, Blizzard, and Bluehole, to produce more killer dApps.We welcome you to join the Ontology ecosystem and together we can achieve a win-win for all.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInWhy the Ontology Platform Should be the Choice for dApp Developers was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 16

How does Ontology’s Multich...

ForewordAs a distributed ledger technology, blockchain can be used in various sectors, such as finance, health care, supply chain, and asset management. However, limited throughput and scalability and network isolation prevent blockchain projects from better serving business applications. Among these limitations, network isolation hinders the collaboration between different blockchains and significantly limits what blockchain can do.IntroductionIn the previous Tech Point articles, we gave a detailed introduction to the 6 components of the Ontology multichain design and how do they work. We believe these articles will help you gain a basic understanding of the Ontology multichain design.In today’s article, we will introduce the problems and challenges today’s cross-chain solutions are facing and what Ontology has done to overcome them.Side-Chain Malicious ActAn important security issue involved in cross-chain interaction is how to prevent side-chain validators from acting maliciously——side-chain malicious act.In Cosmos, side-chains are an autonomous system, and side-chain validators are elected by the side-chain itself; whereas in Polkadot, the side-chain validators are managed by the Polkadot main chain. Whether the election is autonomous or decided by the main chain, a fundamental problem is that these side-chain validators are not necessarily reliable. If the asset value of the interacting chains is greater than the value of the validators’stake on the main chain, the validators will have enough motivation to act maliciously.For example, a dApp developer deploys smart contracts on both the main chain and the sidechain, hoping to achieve cross-chain asset interaction. When dApp users transfer a part of their assets to the side-chain, the side-chain validators can directly transfer the assets to themselves if they find out that the asset value is greater than the value of their stake on the main chain. Then they can transfer the assets onto the main chain and sell them on the exchange.Of course, the side-chain validators’stake on the main chain will be used to compensate the users. Nonetheless, if the value of users’assets is greater than the value of the validators’stake on the main chain, then there is a high possibility the validators will make a colluded attempt to steal the assets.How Malicious Act is PerformedExisting cross-chain solutions mostly adopt Merkle Tree Proof, that is, side-chains will generate in each block a State Root containing the state of all the transactions in the current block, and side-chain validators will sign that State Root. When a cross-chain transaction is taking place, the cross-chain state can be validated by validating the State Root.If the asset value of the interacting chains is greater than the value of the validators’stake on the main chain, then the side-chain validators can forge a State Root based on the current block, which means they ignore the executed results of the current block and create a State Root in their favor, so as to steal users’ assets locked on the main chain.How to Prevent Side-Chain Malicious ActIn response to the inconsistency of State Root of the current block, we can set a challenge period during which anyone can do the following:(1) Submit the block where the malicious act takes place;(2) Submit the previous state proof right before the malicious transaction;(3) Submit the malicious smart contract;(4) Check whether the State Root generated in the corresponding virtual machine is consistent with the State Root of the current block.We can see that validators act maliciously by making a colluded attempt to forge a State Root in the current block and the transactions in the block cannot be altered as user signatures cannot be forged. Based on this, we have come up with an idea to solve this problem. During the challenge period, if a malicious transaction is spotted, we can run the malicious block, transaction in the block, the previous state of the transaction in the block, and the malicious smart contract on the corresponding virtual machine, and then compare the State Root generated to the State Root of the malicious block to see if that State Root is valid or not.In the meantime, whether there are cross-chain transactions taking place or not, the Relayer will monitor the side-chains in real time. If the Relayer discovers that there are two block headers at the same block height or the State Root of the current block header is inconsistent with the State Root that is actually in operation, it can immediately submit the proof to the main chain, prove the malicious behavior on the side-chain, and receive the incentives the side-chain validators staked on the main chain.We can see that the method of validating the State Root in the block is quite complex, especially for heterogeneous chains. In addition, the challenge period is not user-friendly enough. We will continue to improve on this solution and come up with more feasible and efficient ones.AfterwordWe have shared the details about the Ontology multichain design in several articles and we hope you now have a clear idea of what is the Ontology cross-chain solution and how does it work. Please let us know if you have any questions or suggestions.Also, the Ontology cross-chain TestNet was launched in May and we have prepared detailed Developer Manual and video tutorials for fellow developers. Try developing on the TestNet and give us your feedback.Ontology Multichain Documentation Link:Ontology Multichain Developer ManualCross-Chain TutorialVideo Tutorials Link:Ontology Multichain TestNetOntology Cross-chain Contract DevelopmentAbout the Ontology Research InstituteOntology set up the research institute in order to focus more on the research and development of core blockchain technology and strengthen the ability to explore, reflect on, and apply emerging technologies, as well as make contributions to the entire industry. At present, there is more than 10 R&D personnel in the Ontology Research Institute.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInHow does Ontology’s Multichain Design Prevent Side-Chain Malicious Act was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 14

MovieBloc Beta Service Prev...

This article is originally posted on the MovieBloc official Medium account and has been slightly edited.Recently, MovieBloc, an Ontology-incubated decentralized movie and content distribution platform from South Korea, released the functions of its Beta Service. In the previous article, we had an overview of the Beta Service. In MovieBloc Service Preview 2, more detailed information on MovieBloc’s service and the wallet function will be shared.Preview 1 includes the overview of Beta Service. Preview 2 will cover wallet function, and Preview 3 will talk about ‘Individual theater” in MovieBloc Service.Beta Service WalletBeta Service function and InterfaceAbove is an example (i.e. Jason Born) of Beta Service’s wallet function. Users can see their token balance, estimated revenue and total revenue here.During the Beta Service, all applicants will be provided with free MBL tokens. This is a one-time event to enable the users to try the movies on the MovieBloc platform. The MBL tokens provided will be rebooted before the official service launch.For the official service launch, users can be rewarded by contributing their expertise such as writing subtitles, reviewing movies, and reporting illegal content. For the official service, MBL token and Paxos coin will be used.In order to watch premium content, users will need to pay using MBL tokens or credit cards. The revenue generated by the premium content will be distributed in PAX. (same for the advertising revenue generated by the free content; it will be paid with PAXOS coin.) Rewards earned from the participant’s contribution on the MovieBloc platform will be credited to them on a daily basis. However, payments will be sent out at the end of 14 days after dealing with several aspects of these activities such as the settlement of payments with credit cards, advertisement revenue, cancellation fee, copyright violation, etc.Activities such as writing movie reviews and reporting illegal content will be rewarded with MBL tokens. When users fulfil certain requirements, they will be rewarded right away. More detailed instructions will be released regarding this before the service’s official launch.MovieBloc team will test the functionality and quality of the service in a global setting. Thus, the team needs help from beta testers as this is the best way to get real feedback from real users, which will certainly help improve service delivery and ensure valuable user experience.MovieBloc will launch the Beta Service on August 26th, stay tuned!Find out more about MovieBloc here.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInMovieBloc Beta Service Preview 2 was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 13

Ontology to Partner up with...

Ontology to Partner up with 5 DeFi Service Providers in Finance and Wealth Management1. Ontology to Partner up with Babel Finance in Finance and Wealth ManagementOntology has just announced its partnership with Babel Finance in finance and wealth management based on Ontology’s stable coin PAX and ONTO wallet.Babel Finance offers flexible products for Ontology’s stable coin PAX, including BABEL Current+ and Fixed+ products.“BABEL Current+”: The BABEL Current+ series provides fast and flexible withdrawal services. BabelBank is committed to achieving higher returns for users based on meeting safety and liquidity requirements. Currently, the BABEL Current+ products for PAX in ONTO, Ontology’s one-stop client, offer an annualized interest rate of 6%.“BABEL Fixed+”: By depositing in the “BABEL Fixed+” series, you can enjoy the service of fixed-term financial management of crypto assets and return to your account automatically after expiration. The PAX products can offer an annualized interest rate of up to 12%. (Ontology users can buy the products in ONTO or on Babel Finance’s website.About Babel FinanceBabelFinance is founded in July 2018 by Moonalpha Financial Services Limited, a registered company in Hong Kong. Babel Finance provides crypto-backed loans, deposit services, financing, margin trading, and other derivatives services.Babel Finance has grown into one of the largest commercial crypto banks in Asia. It exclusively works with the top mining pools in China and prides itself on being one of the most trusted and reliable crypto-finance institutions.Website: https://babel.finance/2. Ontology to Work with SALT Lending in Wealth ManagementOntology also announced its partnership with SALT Lending, a leading digital asset management company. The two sides will work together to provide high-quality, low-risk, and high-yield stable coin wealth management products for Ontology’s ecosystem projects. SALT Lending’s services are already available to the business partners in the Ontology ecosystem. Ontology users will soon be able to stake their ONT on SALT Lending’s website.SALT Lending is an industry leader in cryptocurrency loans. The partnership will help provide more secure PAX enterprise wealth management, ONT enterprise loan, and ONT spinoff sale. SALT Lending will provide convenient and comprehensive services. Under strict risk control by SALT Lending, PAX enterprise wealth management products will have a yield of up to 7%.About SALT LendingSALT Lending is a membership-based financing ecosystem. Those who own blockchain assets can take out a loan, of any size, without selling their collateral. Their Secured Automated Lending Technology is a protocol and asset agnostic architecture. If you have collateral you wish to retain, you can now borrow in an asset you prefer to spend, regardless of credit history or geographic constraints. SALT Lending is automated, cost-effective, transparent and cryptographically secure. This allows their members to plan tax events, and maintain their long position in a chosen blockchain asset.SALT Lending’s globally available asset-backed financing solution empowers liquidity providers to manage the risk of lending to a rapidly expanding, underserved and immediately addressable borrower base.Website: https://saltlending.com/3. Ontology to Partner up with LendChain in Lending and Wealth ManagementOntology also announced its partnership with LendChain, a distributed digital asset financial service platform. The two sides will work on decentralized finance to promote the Ontology DeFi ecosystem.LendChain will list ONT and PAX and users will have access to collateral loans, wealth management, and other services. Ontology will provide its blockchain technology to support LendChain in developing DeFi applications.LendChain has considerable experience in collateral and credit loans in digital assets and wealth management. The entire lending process is carried out by smart contracts, which record everything on the blockchain, including application, collateral, loans, investment, and repayment. All the information is open and transparent so that investors’ interests are fully protected.About LendChainLendChain is a distributed cryptocurrency financial services platform, which provides financing, investment, insurance, and other financial services for holders of cryptocurrencies. At the financing side, LendChain provides collateral and credit financing services, covering BTC, ETH, EOS, GXS, QKC, and other mainstream cryptocurrencies. At the investment end, LendChain has a professional investment and research team to provide a variety of investment products, such as fixed-rate and floating income investment.Website: https://www.lendchain.io/4. Ontology to Partner up with Fountain Financial in HNWI InvestmentOntology has announced its partnership with Fountain Financial, a Hong Kong-based financial service provider. Under the partnership, Ontology users can use PAX, the Ontology stable coin, to purchase investment products globally, including insurance, funds, and stocks.The partnership will help build a bridge for digital asset investors to invest in traditional financial products. The partnership will allow users to hedge against the risks of trading digital assets by investing in traditional products. Ontology will work with Fountain Financial to build a decentralized investment platform where there is no intermediary or commission, and where high-net-worth clients can buy investment products globally. Currently, there is a discount of up to 10% on the premium for insurance in Hong Kong.About Fountain FinancialFountain Financial is a comprehensive financial service provider focusing on the global investment market based in Hong Kong. With its rich resources worldwide and professional team and services, Fountain Financial provides a variety of financial products for financial advisors and wealth management companies, such as private equity, fixed-rate products, and family trust. Based on its one-stop solution covering both the sale end and the asset end, Fountain Financial is able to provide better asset allocation services for clients.Website: http://iyuanquan.com.cn/index.html5. Users can now Buy Stocks and Funds with ONT on HOXOntology has announced its partnership with HOX, a leading Chinese trading platform where users can buy stocks with cryptos. The two sides will work together to provide Ontology users with a fast and convenient way to buy stocks.Users can now use ONT to buy US/HK stocks and IPO subscriptions. HOX allows users to buy traditional investment products with digital assets so that they can better manage their portfolio. Under this partnership, users can easily use ONT to buy US/HK stocks, such as those of Facebook and Tesla. In addition, HOX also allows users to buy ETF and other products.About HOXFounded in 2018, HOX is a pioneer of token-to-stock trading platforms and has been recognized as a secure and transparent US/HK stock trading platform. The HOX team is made up of IT and financial professionals from Internet giants like Tencent and Alibaba.Website: https://www.hox.com/Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology to Partner up with 5 DeFi Service Providers was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 13

MovieBloc Beta Service Prev...

This article is originally posted on the MovieBloc official Medium account and has been slightly edited.Recently, MovieBloc, an Ontology-incubated decentralized movie and content distribution platform from South Korea, released the functions of its Beta Service. Users will not only be able to watch premium video content but also write comments and rate the content as the true co-builders in the MovieBloc participant-centric film ecosystem. In this article, MovieBloc prepared “MovieBloc Service Preview 1” to show the Beta Service at a glance.Preview 1 includes the overview of Beta Service. Preview 2 will cover wallet function, and Preview 3 will talk about ‘Individual theater” in MovieBloc Service.Beta Service function and InterfaceSample Image: MovieBloc Official VersionMovieBloc Beta Service includes the functions of watching movies, writing comments, and rating movies. Users will be able to watch a collection of indie and commercial films, which will be sorted out in different lists and sections. Please note that the service will open with a small number of film titles provided on a trial basis.During the Beta Service period, users can watch the movies with the free points they received upon registration. Users can also leave comments and ratings on those movies. MovieBloc and its content provider partners will get insightful data from the users’ activities on the service.On the other hand, the early testers will enjoy the movies for free. All the free points will be rebooted once the official service launches. MovieBloc will still have log-in information and view history so the users can keep the record from the beta version. Although it is not included in the Beta Service, Individual theater and Curator ranking will be added to the Official Service. Users can introduce and curate their favorite movies and content on their ‘individual theater’. MovieBloc will share more details about this in Service Preview 3.During the Beta Service period, MovieBloc will focus on Back-End stability and Front-End interface. The MovieBloc team is doing its best to make the service more user-friendly. Its goal is to bring “Mass Adoption” of MBL Token, its cryptocurrency, through a real use case in the MovieBloc service, thus creating a healthy content ecosystem.MovieBloc will launch the Beta Service on August 26th, stay tuned!Find out more about MovieBloc here.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInMovieBloc Beta Service Preview 1 was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 12

How to Earn Mining Fee in t...

ForewordAs a distributed ledger technology, blockchain can be used in various sectors, such as finance, health care, supply chain, and asset management. However, limited throughput and scalability and network isolation prevent blockchain projects from better serving business applications. Among these limitations, network isolation hinders the collaboration between different blockchains and significantly limits what blockchain can do.IntroductionIn the previous articles, we introduced the key components of the Ontology multichain design, the block header synchronization contract, and the cross-chain management contract, through which cross-chain transactions are validated. In today’s article, we will introduce the ONG(x) contract, dApp contract, and Relayer. The former two are contracts that carry out cross-chain business while the Relayer is responsible for synchronizing cross-chain messages for a certain amount of mining fee.Anyone can be a Relayer without registration, as long as they deploy an operation state information synchronization program and perform the synchronization work.ONG(x) Contract and dApp ContractONG(x) contract is an ONG asset contract that enables cross-chain asset transfer. On the basis of the ONG contract, the ONG(x) contract also added the Lock and Unlock API:Lock APIThe Lock API locks assets on the chain and invokes the cross-chain management contract, which then puts the transaction into the Merkle Tree.2. Unlock APIThe Unlock API unlocks assets on the chain. The cross-chain management contract invokes this API and sends the validated transaction parameters to the API, which then unlocks the assets based on the parameters.dApp contract is the cross-chain contract implemented by users. Apart from the business logic of users, the dApp contract also requires a certain number of APIs similar to Lock and Unlock API, which can be invoked by the cross-chain management contract.RelayerAnyone can be a Relayer, as long as they deploy an operation state information synchronization program, continually monitor the cross-chain request of cross-chain contract and the epoch switch block, and synchronize the cross-chain transactions or block headers.For each cross-chain transaction or block header, only one Relayer can submit successfully. After the cross-chain transaction is submitted successfully, the Relayer can then receive the incentives for cross-chain interaction. The Relayer does not need to stake tokens and they can decide whether to synchronize transactions with low mining fees by setting a threshold for mining fees.During the cross-chain interaction process, Relayers need to synchronize two types of key information: key block headers and cross-chain transactions. Cross-chain transaction fees are paid by users to Relayers who sync the data. Key block headers may not include cross-chain transactions, therefore there might be no one who will pay the fees for syncing the key block headers. However, since key block headers will affect cross-chain transactions during the entire round, if no Relayer will sync the key block headers, then cross-chain transactions after this key block header in the entire round will not be able to proceed. Therefore, a portion of the cross-chain transaction fees in the entire round will be used to incentivize Relayers who sync the key block headers.Figure: Transfer of Mining Fee from Main Chain to Side-ChainUsers of cross-chain transactions can submit state information themselves, or they can include a mining fee in a cross-chain transaction to entrust the Relayer to synchronize the transactions. Specifically, when the user conducts a cross-chain transaction on the source chain, it needs to lock an amount of ONG or burn an amount of ONGx as the mining fee. After the Relayer monitors the cross-chain request, it will look at whether the mining fee is higher than the threshold it set to decide whether to submit this cross-chain transaction.When it is higher than the mining fee threshold set by itself, the Relayer will submit the cross-chain transaction to the target chain. After the cross-chain transaction is successfully executed, a corresponding amount of ONG is released on the target chain or a corresponding amount of ONGx is issued as the mining fee for the Relayer who submitted the cross-chain transaction.Figure: Transfer of Mining Fee from Side-Chain to Main ChainAfterwordWe will share more about the Ontology multichain design in future tech point articles. Also, the Ontology cross-chain TestNet was launched in May and we have prepared detailed Developer Manual and video tutorials for fellow developers. Try developing on the TestNet and give us your feedback.Ontology Multichain Documentation Link:Ontology Multichain Developer ManualCross-Chain TutorialVideo Tutorials Link:Ontology Multichain TestNetOntology Cross-chain Contract DevelopmentAbout the Ontology Research InstituteOntology set up the research institute in order to focus more on the research and development of core blockchain technology and strengthen the ability to explore, reflect on, and apply emerging technologies, as well as make contributions to the entire industry. At present, there is more than 10 R&D personnel in the Ontology Research Institute.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInHow to Earn Mining Fee in the Ontology Multichain Design was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 10

How to Validate Cross-Chain...

How to Validate Cross-Chain Transactions in the Ontology Multichain DesignForewordAs a distributed ledger technology, blockchain can be used in various sectors, such as finance, health care, supply chain, and asset management. However, limited throughput and scalability, and network isolation prevent blockchain projects from better serving business applications. Among these limitations, network isolation hinders the collaboration between different blockchains and significantly limits what blockchain can do.IntroductionIn the previous articles, we explained what can the multichain management contract do and how to implement it. One of the keys of cross-chain transactions is how to validate cross-chain transactions. When the source chain initiates a cross-chain transaction, the target chain needs to validate the legitimacy of the cross-chain data. In this article, we will introduce how two chains validate the transactions on each other’s chain in the Ontology multichain design.Cross-Chain Transaction ValidationCross-chain transaction validation is realized by the block header synchronization contract and cross-chain management contract.1. Block Header Synchronization ContractThe Ontology cross-chain solution is more intuitive. The synced block headers are stored in the block header synchronization contract, and any other contract on the current chain can read the synchronized block headers from the contract. The block header synchronization contract has two APIs:a. Block header synchronization between the main chain and side-chainFigure: Key Block Header SynchronizationIn the consensus governance model of the Ontology main chain, the Ontology network switches the consensus node after a certain number of blocks, but the validator set remains unchanged during a consensus round. Therefore, if the side-chain is a homogeneous chain, then not all the blocks need to be synced, instead, only the key blocks (i.e. the epoch switch block that switches the validator set) and the block in which the cross-chain transaction takes place need to be synced. Such design greatly reduces the number of synced block headers.In the meantime, in case the key block header synchronization is not updated on the side-chain after a consensus switch epoch, and the validators from the previous side-chain consensus epoch create malicious block headers, Ontology adds side-chain consensus epoch management in the multichain management contract on the main chain. The validators on the current side-chain can alter the attribute. After the side-chain consensus epoch has ended, if there is no new key block header being submitted, then the cross-chain interaction between the side-chain and the main chain will be terminated. If the new side-chain validators find out the consensus epoch on the main chain is inconsistent with the actual consensus switch epoch on the side-chain, they can alter the attribute on the main chain, and the side-chains will be punished accordingly.b. Block header synchronization between side-chainsThe way block headers are synchronized between side-chains and between the main chain and side-chains is different in that key block header information is obtained differently. Having said that, the block header synchronization process of cross-chain transactions is the same.The information of all the side-chains is recorded on the main chain. If chain A and chain B want to interact directly, they do not need to register with each other, nor do they need to sync each other’s key block header information from the genesis block, since both of them can get the key block header information about each other from and validated by the main chain. They only need to obtain the information about the key block header that comes before the cross-chain transactions.2. Cross-Chain Management ContractWhen the dApp is processing cross-chain transactions between the main chain and the side-chain, the dApp contract first processes its logic on the source chain and call the cross-chain API of the cross-chain management contract. After the Relayer syncs the validated state information to the target chain, the dApp continues to process its logic on the target chain. The procedures are as follows:Figure: Cross-Chain InteractionThe cross-chain management contract on the source chain will assign an auto-increment ID for each cross-chain transaction, put the transaction into the Merkle Tree, and then the Merkle Root will be put into the block headers of the current block. After this, the ID and block height will be broadcast as an event. At the same time, when initiating cross-chain transactions, users need to burn or freeze an amount of ONG on the source chain as mining fees.The Relayer is responsible for monitoring these cross-chain events. When the Relayer is monitoring a cross-chain transaction, it can obtain Merkle proof on the source chain according to the ID and block height, and then submit the Merkle proof to the target chain, during which a mining fee needs to be paid.After the target chain (its cross-chain management contract) receives the Merkle proof, it will obtain and validate the completed cross-chain transaction on the source chain, and label the transaction ID as “spent”. Then, according to the cross-chain transaction parameters, it will call the dApp contract on the target chain and complete the dApp contract logic on the target chain.After the cross-chain transaction is successfully executed on the target chain, the Relayer will receive incentives accordingly. Based on transaction types, the incentives could be ONGx issued by the ONGx contract on the side-chain or ONG released by the multichain management contract on the main chain.AfterwordThe Ontology multichain design uses the block header synchronization contract and cross-chain management contract to validate cross-chain transactions and thus lays the foundation for cross-chain interaction.We will share more about the Ontology multichain design in future tech point articles. Also, the Ontology cross-chain TestNet was launched in May and we have prepared detailed Developer Manual and video tutorials for fellow developers. Try developing on the TestNet and give us your feedback.Ontology Multichain Documentation Link:Ontology Multichain Developer ManualCross-Chain TutorialVideo Tutorials Link:Ontology Multichain TestNetOntology Cross-chain Contract DevelopmentAbout the Ontology Research InstituteOntology set up the research institute in order to focus more on the research and development of core blockchain technology and strengthen the ability to explore, reflect on, and apply emerging technologies, as well as make contributions to the entire industry. At present, there is more than 10 R&D personnel in the Ontology Research Institute.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInHow to Validate Cross-Chain Transaction in the Ontology Multichain Design was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 07

Side-Chain Life Cycle Manag...

ForewordAs a distributed ledger technology, blockchain can be used in various sectors, such as finance, health care, supply chain, and asset management. However, limited throughput and scalability, and network isolation prevent blockchain projects from better serving business applications. Among these limitations, network isolation hinders the collaboration between different blockchains and significantly limits what blockchain can do.IntroductionIn the previous tech point article, we talked about the six components of the Ontology multichain design: Multichain Management Contract, Block Header Synchronization Contract, Cross-Chain Management Contract, ONG (x) Contract, dApp Contract, and Relayer.This article will focus on what the Multichain Management Contract can do and how to implement it.Multichain Management ContractThe Multichain Management Contract manages all side-chains, including side-chain index, asset status, validator staking status, and other information. The contract has the following functionalities:Side-Chain RegistrationWhen side-chains register with the main chain, they need to use their ONT ID to complete the KYC process and submit basic information such as genesis block information and stake size to the main chain. At the same time, the side-chain needs to stake a certain amount of ONG into the main chain, which is jointly staked by the initial validator of the side-chain. The amount of the ONG staked by the side-chain validators is agreed by themselves, but should not be lower than the promised total amount of ONG. Before submitting the registration information, the side-chain validators need to stake enough ONG into the main chain. If the staked amount is insufficient, the registration will fail.If there are malicious acts on the side-chain (for example, the side-chain validators increase the supply of ONGx maliciously), a corresponding amount will be deducted from the staked ONG as a penalty. The main chain governance committee reviews the basic information submitted by the side-chain, and after approving it, allocates a fund pool for the side-chain based on the amount of the staked tokens, which is used to manage the assets used by that chain to interact with other chains. At this point, side-chain registration is completed.As we can see, the ONGx assets on the side-chain are determined by the size of the fund pool on the main chain. If side-chain acts maliciously, then the staked token by that side-chain on the main chain can be used to compensate users. Therefore, to ensure safety, normally the size of the side-chain fund pool should be smaller than its staked token amount.2. Change of Validator InformationIn the event of a change of side-chain validator information, then the new validator needs to stake enough ONG on the main chain beforehand and the stake amount cannot be lower than that of the old validator. When the information state synchronization program Relayer submits the validator’s block header of the new consensus round to the main chain, the main chain verifies whether the stake amount is large enough. If not, the block header synchronization will be rejected. Otherwise, the ONG staked by the old validator of the side-chain will be unlocked after the validator’s information has been changed twice.3. Cross-Chain Asset ExchangeAfter the side-chain has been registered, users can lock their ONG on the main chain into the fund pool of the side-chain registered with the main chain in exchange for the assets on that side-chain accordingly.Figure: Cross-Chain Asset ExchangeAfter users lock their ONG on the main chain into the fund pool of the side-chain registered with the main chain, the main chain will generate the corresponding IOU information. If the fund pool on the main chain has been filled up, then the locking fails. If the locking is successful, then the Relayer or users can release the corresponding amount of ONGx based on the IOU information generated by the main chain. Reversely, if users burn ONGx on the side-chain, then they can release the corresponding amount of ONG on the main chain based on the IOU information generated by the side-chain.4. Side-Chain Asset ManagementIf the sidechain wants to increase the capacity of the fund pool on the main chain, it can increase its staked amount on the main chain and submit an application to the main chain. If its application is approved, then its fund pool will be enlarged and the asset supply on the side-chain will be increased accordingly.Similarly, if the side-chain wants to reduce the capacity of the fund pool on the main chain, it can submit an application to the child chain. If its application is approved, then its fund pool will be reduced and the asset supply on the side-chain will be decreased accordingly. Please note that the staked amount corresponding to the lower limit of the sidechain fund pool capacity is not allowed to be less than the total amount of ONG currently locked by all users.5. Side-Chain LogoutIf the side-chain needs to log out, it needs to submit a logout application to the main chain and there will be a challenge period, during which users can convert the assets on the sidechain back to the main chain. After the challenge period, any unconverted ONGx on the side-chain cannot be transferred back to the main chain.AfterwordWe will share more details about the Ontology multichain design in future tech point articles. Also, the Ontology cross-chain TestNet was launched in May and we have prepared detailed Developer Manual and video tutorials for fellow developers. Try developing on the TestNet and give us your feedback.Ontology Multichain Documentation Link:Ontology Multichain Developer ManualCross-Chain TutorialVideo Tutorials Link:Ontology Multichain TestNetOntology Cross-chain Contract DevelopmentAbout the Ontology Research InstituteOntology set up the research institute in order to focus more on the research and development of core blockchain technology and strengthen the ability to explore, reflect on, and apply emerging technologies, as well as make contributions to the entire industry. At present, there is more than 10 R&D personnel in the Ontology Research Institute.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInSide-Chain Life Cycle Management in the Ontology Multichain Design was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 06

EOSeoul to Move Neoply’s nB...

Ontology has just announced EOSeoul as a new ecosystem partner and the two sides will work together in technology, product, and marketing on nBlocks Hunt, a new blockchain mobile game recently developed by Neoply, a Seoul-based startup accelerator and the operating entity of EOSeoul.A classic title developed by the Neoply team, nBlocks Hunt is a location-based blockchain AR app that allows players to find and earn digital assets in the physical world. Now, the Neoply team is planning to move nBlocks Hunt to the Ontology blockchain. Under the partnership, Ontology will provide the underlying blockchain technology to help Neoply and EOSeoul move and operate the game smoothly, thus further enriching the Ontology dApp ecosystem.Neoply is a well-known startup accelerator under NEOWIZ, a large South Korean online game company and has supported more than 100 startups. It is also the operating entity of EOSeoul.Founded in 1997, NEOWIZ has released a series of hit titles, including TapSonic, CrossFire, Alliance of Valiant Arms, Rockman Online, and R2Beat.For more information, please visit NEOWIZ’s website, EOSeoul’s Medium, and nBlocks Hunt’s website.About EOSeoulEOSeoul is a subsidiary of NEOWIZ Inc., one of the top video game developers and publishers based in South Korea with a history of over 20 years. The EOSeoul team is currently working on dApp games with AR technology. It is dedicated to creating a blockchain playground where players can have easy access to high-quality games.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInEOSeoul to Move Neoply’s nBlocks Hunt onto Ontology was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 06

Ontology to Partner up with...

Today, Ontology announced its partnership with BLUCON, a Korean commercial infrastructure blockchain project focused on digital asset payments. The two sides will work together in various scenarios, including everyday spending and cross-border payments. The cooperation will also cover DeFi and wallet.Statistics show that each South Korean has 3.6 credit cards on average and credit card spending has become very commonplace in the country. BLUCON has many years of experience in payments, supporting transport cards in South Korea, smart travel cards in Southeast Asia, and EMV debit/credit cards. The BLUCON card is issued by the second-largest smart card issuer in South Korea and is recognized by the financial authority in the country. Similar to general-purpose prepaid cards and Hong Kong’s Octopus card, the BLUCON card is a convenient alternative to cash in South Korea and is accepted by more than 210,000 retailers in the country, such as convenience stores, public transportation, and entertainment.BLUCON currently supports remittance and withdrawal services and offers two payment methods: digital asset and fiat payment. In the partnership, Ontology’s stable coin PAX will be displayed in the form of loyalty points in the BLUCON system and its price in transactions will be consistent with the price on exchanges. BLUCON points will be converted to the Korean Won at a ratio of 1:1.Speaking on this partnership, Sabrina Kim, CEO of BLUCON, said “Ontology is one of the earliest blockchain projects in the world and has a large international community. Ontology’s technical prowess is also widely recognized. The MOU marks a new beginning of the integration between Ontology’s blockchain technology and BLUCON’s payment platform. We aim to empower crypto-asset holders in their everyday lives and provide solutions for the blockchain industry through the integration of BLUCON’s technology. With Ontology’s blockchain technology, the two sides are going to shape up the landscape of the blockchain industry and promote the early adoption of the payment solution globally.”Jun Li, Founder of Ontology, said “BLUCON can serve a variety of everyday use cases, whereas Ontology is committed to providing a higher level of trust for people, assets, things, and affairs through distributed trust framework and decentralized technology. The two sides see eye to eye on each other’s strategies for real business and we look forward to bringing about more innovation to the Korean market and the global market at large through the integration of Ontology’s stable coin PAX, DeFi, and other applications. We will also help transform and upgrade traditional industries with cutting-edge blockchain technology.About BLUCONBLUCON is a blockchain project that designs a technological and commerce infrastructure that will allow crypto-assets to become spendable cash instantaneously. With its proprietary exchange platform, any digital asset exchange can plug into its B2B suite, allowing its traders and investors to load their cryptocurrencies directly into the BLUCON card and spend them at any of BLUCON’s 210,000 retailers in Korea. BLUCON’s technology is also compatible with a suite of smart payment and travel cards in Asia, such as Singapore’s EZLINK/NETS ecosystem, Hong Kong’s Octopus card, and more. BLUCON’s goal is to become the first B2B and B2C blockchain-based payments provider to allow for seamless transferability between digital assets and fiat currencies.BLUCON’s parent company, Blu Brain Holdings, is a legacy payments business in South Korea with a decade’s worth of experience and is well-poised to take BLUCON and turn it into an international phenomenon with its history of success, huge resources, and synergy of all its portfolio companies.Website: https://BLUCONnewsfeed.com/Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology to Partner up with BLUCON in Payments and DeFi was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 05

The Staking of 37,500,000 O...

At the live AMA of the first anniversary of Ontology’s MainNet launch on July 24, 2019, the Ontology core team announced that 37,500,000 ONT, 100% of the ONT amount unlocked for the core team in 2019 and 3.75% of the total ONT supply, will be staked into consensus nodes.The total ONT supply is 1,000,000,000 and the current circulating supply is 655,000,000 ONT. Now that the staking of 37,500,000 ONT has completed, the circulating supply has been reduced to 617,500,000 ONT. What implications will this have for the supply and demand of ONT and ONG? In this article, I will explain it in plain-English economics by breaking down Ontology’s ONT/ONG dual-token model.According to the demand curve in economics, we can infer that:As is shown below, when the circulating supply is 655,000,000 ONT, the ONT price is P1.Let’s first take a look at ONT’s demand curve:The staking of 37,500,000 ONT means that the ONT circulating supply in the market is reduced by 37,500,000. When demand remains unchanged while the circulating supply is reduced to 617,500,000 ONT (see S2), the ONT price goes up to P2, and P2>P1;When the ONT price is up, demand for ONT will grow and ONT transactions will increase, thus driving up the demand for ONG, the GAS in the Ontology network. We must add here that part of the rewards for the Ontology Triones nodes comes from the ONG GAS fee. As ONT transactions increase, so do the GAS fees distributed to Ontology Triones nodes. We can predict that as the rewards for staking increase, more investors will want to stake their ONT into the Ontology Triones nodes. When more ONT is staked, the ONT circulating supply in the market will be reduced further (see S3). As a result, the ONT price moves to P3 and P3>P2>P1, which means the ONT price is up again.Now the implications of the 37,500,000 ONT staking by the core team for the ONT price are very clear. What about ONG? As mentioned before, as the ONT price increases, ONG GAS will be used more frequently, thus driving up the demand and in turn the ONG price. When the ONG price is up, we can infer that:As is shown below, the initial ONG price is P1.(D2 represents the growing demand, S2 represents the rising supply, and S3 represents the decreasing supply.)Scenario 1: The demand for ONG is up while the supply remains unchanged. In this case, we will see the demand curve moving to D2. How can we assume the supply will remain unchanged? According to the Ontology dual-token model, the ONG amount generated in a given period is constant. So the ONG price moves to P2;Scenario 2: The demand for ONG is up and the supply has increased slightly. Under this scenario, we will have D2 and S2. As it takes time for ONG to be unbound, chances are the speed at which the ONG supply increases is slower than that of the demand, so the ONG price moves to P3 and P3>P1;Scenario 3: The demand for ONG is up whereas the supply is down. The reason for this is that as the ONT price rises, users who stake in the Ontology Triones nodes find that the rewards from staking are lower than trading ONT. As more users trade their ONT in the secondary market, fewer ONT is staked in the nodes. As a result, the ONG amount generated by staking or the unbound ONG amount decreases, so we will have P4 and S3, showing that the supply is down while the demand is up, therefore P4>P1.As can be seen above, P4>P3>P2>P1. The ONG price moves upwards in all 3 scenarios.When ONG appreciates, the first thing that comes to our mind is how can we get ONG? Besides staking in the Ontology Triones nodes, you can also get ONG on the Ontology dApp platform. dApps on Ontology offer a certain amount of ONG as incentives to new users. You can obtain a certain amount of ONG in these dApps and make transactions using ONG as GAS.The more people use dApps, the higher the demand for ONG. As ONG is being used more frequently and keeps appreciating, investors will naturally turn their attention to what generates ONG — ONT. When investors are choosing which digital asset to invest in, they will also consider whether that digital asset has added value besides project development and the price trend. If you buy ONT, you can make a profit by trading it and also earn rewards from the ONG generated by the ONT you hold, which is the added value ONT offers and what makes Ontology’s dual-token model stand out. We have every reason to believe that the growing demand for ONT will undoubtedly drive up the prices of both ONT and ONG.By breaking down the Ontology dual-token model, I have explained what positive implications the staking of 37,500,000 ONT will bring, we can certainly be sure that more good things will come out of this.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInThe Staking of 37,500,000 ONT Explained in Classical Economics was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 08. 03

Summary of Ontology’s MainN...

→Watch the full AMA on YouTubeOntology held its MainNet launch 1st anniversary at 11:00 on July 24, 2019 (UTC). Jun Li, Founder of Ontology, and Andy Ji, Co-Founder of Ontology, answered questions from the community during the live AMA. The questions from the community covered Ontology’s roadmap, dApp ecosystem, cross-chain solution, ONT ID, interoperability, etc. Below is a summary of the AMA.The transcript has been slightly edited for readability.Questions & Answers:1. Is Ontology’s development lagging behind the roadmap in its white paper?Jun Li: Actually, we have achieved all the milestones following the roadmap in the white paper last year. As we reviewed the 2018 white paper, we found that Ontology is the only public chain project that has launched MainNet on schedule.And in the development of some core technologies, such as sharding, cross-chain and multi-layer solutions, we are even ahead of the schedule and achieved much more beyond our white paper and roadmap.This month, we released 3 new white papers, including the Ontology Framework White Paper, the Infrastructure White Paper, and the Trust Framework White Paper.2. I know that the rewards for dApp developers on the Ontology platform are very good. Is dApp market one of the goals of Ontology in the near future?Andy Ji: Ontology is aiming to build a blockchain network capable of serving all businesses. dApp market is a great container of new crypto users. Now we are focused on gaming, DeFi, and the attention economy (like content platform, live streaming, and advertising trade). We will continue to explore more high-quality cases and launch products that can be widely adopted. By the way, we highly value our dApp developers. That’s why we launched the dApp incentive scheme.Moving forward, we will help more developers to empower our community and ecosystem, for instance, in fund-raising, marketing or listing on the exchange.3. Why is Ontology’s cross-chain solution better than that of Polkadot and Cosmos?Jun Li: We cannot say better. We have developed specific functionality or features which will make the use and application of blockchain protocol easier for different scenarios or situations. For example, currently most blockchain protocols focus on asset exchange, but in real business, there are many different business processes. The whole process may involve different steps and different chains. You will need protocols to complete transactions and business processes. The solution uses the Ontology blockchain as the main chain and supports both homogeneous and heterogeneous blockchains. It allows interaction between the main chain and side-chains, and also between side-chains.Just as our slogan “Ready for All Businesses” says, our cross-chain protocols will support more different scenarios, traditional real businesses, instead of digital asset exchange only. This is why we wanted to design a cross-chain protocol for that.If you are interested in more details, you can check our cross-chain articles on Medium and the multichain design paper on GitHub. Our TestNet has already launched, you can also try to build some applications on it.4. How is Ontology’s globalization strategy going? Is Ontology planning to do compliant business in other countries?Andy Ji: To be honest, Ontology is a real global community-driven project.Right now, our communities cover 18 languages and our fans are able to find the Ontology base at any corner of the world. In the United States, Europe, and South Korea, we have set up full-time local teams. Moving forward, we will further expand markets and influence in Southeast Asia, Latin America, and other fast-growing regions. We will continue to promote our services and products in the near future.In the past year, we have traveled all around the world. We co-hosted a hackathon with Microsoft and held events in Tokyo, Seoul, Saigon, Singapore, and Jakarta. In Europe, our journey covers cities like London, Amsterdam, Dublin, and Madrid. In North America, we have also seen footprints of Ontology developers in Toronto, San Francisco, New York, Seattle, Boston, and Washington D.C.We are planning to enter the Japanese and US compliance markets. We have cooperated with Gumi, a Japanese publicly listed company and kept contact with JVCEA and JFSA. I hope we will see the top public chain in Asia — Ontology, being listed in the Japanese market.Meanwhile, many of our co-builders in the US are big companies that will help Ontology enter the US market. We have discussed with the biggest US exchange for a year. I hope we can move forward with the US and Japanese regulators in the near future.5. We know Ontology is working on a distributed identification protocol. How does Ontology’s solution prevent user data from being abused by Internet giants like Facebook, Google, and Snapchat?Jun Li: Unlike other projects who have a lot of dApps and build their identity solutions based on them, Ontology thinks that identity solution should be at an infrastructure level or as a functionality. We built the Ontology DID — ONT ID, a DID protocol. dApps can use its protocol directly. Decentralized identification enables users or individuals to control their own identity and verification information directly. Based on that, you can link different data sources by yourselves. The data sources can be from centralized data source verification providers and also from decentralized platforms like owners of social networks or of personal data. The difference is that all your personal data will not be on the blockchain. The data will be kept in their original source. You have the control of whether to send data to specific users or peer-to-peer every time you want to use the data.The benefit for this is that you can not only have your data kept in their original source but also meet the regulatory requirements such as GDPR. The platform should not collect the data directly. You should let users take control. That is a new model for users to control their own identities and data as well.This is a new solution compared to Internet giants like Facebook. We believe that the DID protocol will be widely adopted in the next phase.6. Is ONT going to have interoperability with other public blockchains, if so, who are they? Will we be able to see a multi-token supporting ONT wallet?Andy Ji: Certainly Yes. We have already supported multiple native coins and different tokens in our ONTO wallet. We have just released ONTO 1.0.0. The new ONTO supports multiple native coins and tokens, including all ERC-20 tokens. More assets will be added in the future (both tokens and NFT assets). In our plan, BEP-2 tokens with Binance Chain, Kakao Klaytn, Facebook Libra coin and Bitcoin are all on the way. I believe ONTO will become the best-integrated asset/identity/data decentralized one-stop client. Do take a look at our ONTO wallet.7. When upcoming big events like LTC halving take place on August 6, 2019, or BTC halving takes place in 2020, miners’ reward blocks are cut in half, which will lead to rising coin prices as the demand increases. What does ONT have in mind for this issue? Is there any intention in the future for the value of the coins to be increased, as well as for the benefit of the holders?Jun Li: Token economy is quite important for the whole ecosystem, not only for the usage (utility token) but also for the token’s long-term value to show your care for your investors. Ontology has its own dual-token model, including ONT and ONG, similar to NEO’s dual token model. ONT is used for governance (the supply is fixed) and ONG for utility (fixed supply also with recycling usage). All consumed ONG will be rewarded to ONT holders. ONG is the utility token of the network and is used for token transactions, network storage, deployment and execution of smart contracts, and use of other network resources. ALL spent ONG will be returned to ONT holders again under a recycling model. The incentives for ONT holders will increase when there are more dApps, asset exchange, and smart contracts.ONT’s fixed supply will help keep its long-term value. ONG’s recycling process also helps keep its value stable and the gas fee low which will be beneficial to dApp developers and ecosystem partners.Compared to other token economies, Ontology’s dual token model is one of the best models. I hope that more and more people can understand the value behind the token.This model makes sense as the demand for ONG leads to higher demand for ONT, and the value of ONT will increase as it is being adopted by more and more businesses.8. I’d like to ask a question about the Ontology ecosystem. There are few high-quality decentralized applications on blockchains today. I’d like to know what Ontology’s focus is when it comes to dApps on its platform?Andy Ji: As I mentioned, now we are focused on game, DeFi, and the attention economy (content, live stream, and advertising trade). Ontology is aiming to improve user experience and performance and lower the barrier for newcomers. For example, the new ONT ID login feature will be integrated into dApps and wallets and linked to Facebook, Google, Twitter, and WeChat account so you can easily log in with your Facebook ID or WeChat ID, and create your first digital wallet. And dApps can run layer-2 state channels to reduce transaction costs. They can even pre-pay the transaction fees for users, so it will help users to move from traditional services to new blockchain services. We would invite more traditional users to try their first blockchain service in our wallets and on Ontology’s platform.9. Could you share more technical details about (not only the strategic cooperation you recently announced) your plan to work together with NEO? Any plans for NEO 3.0 and ONT? And in which aspect such as atomic swaps will NASH / NEX project be involved?Jun Li: This is the new cross-chain protocol Ontology and NEO are working together to develop. Actually, the project is more than that. We call it the next-generation Internet (NGI). It will integrate with decentralized storage and the cross-chain protocols and also other asset management as a whole infrastructure.For the technical part we just mentioned, the new protocols will support not only asset exchange but also all kinds of different cross-chain business processes. Unlike the other cross-chain solutions which require you to use a specific framework to build your protocols or blockchain, we can integrate with different existing blockchains without changing their protocols. They can integrate with existing protocols and even blockchain systems in the future.We will release the first version of the white paper in Q3. And in Q4, we will launch the TestNet. Also, we will have more partners joining the ecosystem. We will build a larger ecosystem for the cross-chain platform far beyond Ontology and NEO. So we want to build an ecosystem using different cross-chain protocols. They can support DEX and other business scenarios. We believe that based on our technical prowess of both Ontology and NEO and other capabilities, the cooperation and ecosystem will be more successful in the next phase. We also welcome more partners to build the cross-chain platform together.10. What business scenarios can Ontology support now? In which industries can we see the mass adoption of Ontology’s technology in the near future?Andy Ji: Our new slogan in 2019 is “Ready for All Businesses”. So Ontology aims to become the new fundamental architecture for the new digital economy. Will we do everything? The answer is NO. As I mentioned earlier, we focus on gaming, DeFi, and the attention economy.We tried to implement some use cases for some specific scenarios, but some experimental projects have failed. We were trying to bring some traditional business models to convert into the distributed business models, but some projects failed because they cannot find a good design for token economy.We won’t stop. We will keep bringing real adoption to the whole industry. For example, we have developed a loyalty-points program for Fosun Group, and our Korean core partner MovieBloc will launch a content distribution platform with 812 million users.We have already issued our fully regulated stable coin with PAXOS. For the next step, DeFi will be our focus. So we will provide debit card and wealth management products to our end users. We will try our best to lower the barrier and build a real Inclusive financial ecosystem. Thus, we can engage more traditional users to try our blockchain services in our ONTO wallet and bring more value to the whole ecosystem.11. How does Ontology solve the problem on scalability with sharding mechanism?Jun Li: Sharding is on the infrastructure level. Ontology has just finished the first sharding implementation and you can check our Sharding TestNet with reference to our technical white paper. It will improve the scalability in our MainNet infrastructure, which is Layer 1. Another kind of scalability is multiple-layer, in layer 2 or state channels. Multiple layer will also impact the decentralized level, so we need to find some balance in that. You can deploy different applications and assets. We will keep improving it.Ontology offers a highly-customized modular framework. You can consider Ontology as an enterprise-level public blockchain. We have a basket of scalability solutions. You can choose the sharding, the layer-2, and the side chain.If you are an enterprise, you can customize your product and we will offer you any scaling solution based on any requirements you have.12. What is the ONT future development plan? In the process of developing ONT is it difficult to be where you are today? Does ONT now meet formidable opponents? If so, does ONT have any plans to solve it?Jun Li: The Ontology strategy can be divided into two parts:1) Technical and infrastructure level. Just as we have mentioned, we have already made good progress in scalability on different levels, sharding, multiple-layer, and cross-chain.2) Ecosystem and real business. Just like our slogan, “Ready for All Businesses” implies, we have created the bridge to link different real businesses in different situations, even in different legal systems, such as the decentralized identity — ONT ID, and the decentralized data exchange protocol — DDXF. In the next phase, the reputation system will also be put in place. We already have many business engagements with different industrial partners from enterprise and financial institution to new start-ups.We have built our local teams in Korea, the US, and Europe. Globalization is also a very important strategy this year and we will focus on technical infrastructure and ecosystem to try to build more dApps for different industries and scenarios.13. Is your team considering coming up with a DEX which will use ONG for payment? Just like BNB in the case of Binance?Andy Ji: We already have the ONT DEX, our initial version of our decentralized exchange. We will keep improving the user experience and bringing more assets onto the ONT token. We have launched our cross-chain collaboration platform with NEO and more and more public chain leaders and projects will engage in this network, so we will bring a real cross-chain platform onto our ONT DEX. You will see more and more real native tokens on our ONT DEX. It will offer a much better and smoother user experience than the Binance DEX. Right now, the Binance DEX is slow and you have to issue your token on the Binance chain. We will have a much more powerful platform.14. As you can see the slogan “Ready for All Businesses” on the Ontology’s new website, what have we done to implement this slogan?Jun Li: Currently the Ontology infrastructure and protocol can support almost all kinds of decentralized services in different industries. The Ontology team is more focused on the infrastructure level and technical development. The majority of the Ontology team members is specialized in technical engineering and protocol design with technical or blockchain background. We are not a professional team that can cover all different industries, that’s why we welcome professionals from different industries in different regions or countries to build decentralized services or dApps on Ontology. We will provide technical and ecosystem support, as well as incubation support which will include funding, marketing, and community cooperation for those dApps or services developed on Ontology.Just as Andy has mentioned, the MovieBloc project from Korea is one of the online media applications which is incubated by us. While they are experts in their own media industry, Ontology provides the technical and marketing support so that they can focus on what they are good at. You can just focus on the business operation as we take care of the rest for you so you can easily build your own decentralized services. That’s what “Ready for All Businesses” means.15. What are some milestones to look forward to? What do you predict the largest challenges will be in the future? How do you plan to address them?Jun Li: In the past year, the challenge was mostly on the technical side, as we mentioned, scalability, stability, and security. We have already overcome or come up with solutions for some of the challenges. In the next phase, the biggest challenge in the near future would be real adoption, which means enabling one or more services or applications to use blockchain. As mentioned above, we need to work with more partners from different industries. This is quite challenging for any team, especially a technical-oriented team. However, we have already built a strong business development team, a solution team and a product management team, all of which can not only help provide better products, but also enable more business cooperation in different industries. This challenge is not only for Ontology, but also for the whole blockchain industry. But we will try our best to bring more blockchain adoption for real businesses.Andy Ji: There are so many dApps on Ethereum, EOS, and Tron. However, we saw that most of the users are not 100% real users. The lack of users is a common problem facing the whole industry. Ontology aims to lower the barrier in order to engage more traditional users. Right now, the whole industry only has a small group of crypto guys. We have to educate more people from traditional industries. The Facebook Libra project will help educate these people about the definition and benefits of crypto and we will strive to engage more people from traditional industries.16. When do you think we can use ONT as a trading currency in any country around the world?Andy Ji: Now we are providing a series of products to support payment scenarios. We have already signed partnerships with some retailers and partners in the OTA like Price Line. You can book hotels and flights on Price Line and get some discounts via ONT payment or OEP-4 PAX payment. You can use our services to pay the retailers so you can buy Starbucks or Luckin coffee very easily. We will promote our services to people all around the world. At the moment, we are focusing on promotion in some specific regions like Southeast Asia. If we can meet the requirements of the local regulations or policies, we will also promote in Europe and the US market. We will keep improving our services. After that, we will provide a gateway to converting fiat into cryptos. You can then use ONT to enjoy different types of services.17. Looking back on the day when you guys started Ontology, are you happy and satisfied with the progress you’ve made so far?Jun Li: Yeah, definitely. I am not only just satisfied, I am very proud of our whole team and the whole ecosystem, considering all the things we have achieved so far. If you look back on the past two years, Ontology has almost met all the milestones, both in technology and ecosystem development. We have kept our promises from our first day. So I am so proud of our project, our team, and our communities. I’m very happy about this, and we will keep sticking to our promises in the next year and beyond.18. Is ONT expanding its ecosystem in the Vietnamese market? If so, are you planning to cooperate with the large enterprise or cooperation in Vietnam?Jun Li: Definitely yes. One of the advantages that Ontology has is that we actually do a lot of cooperation and engagement with large enterprises, especially in China. We have considerable experience and we have very good solutions and a good business development team. We can also use these capabilities to support businesses in different countries. We believe that many enterprises in different countries want to use blockchain frameworks and technology for different scenarios. Maybe in the initial phase, most public chains wanted to build their own permissioned chains or other different kinds of solutions.But the Ontology framework and protocols can support this very easily with low and even no cost. In the future, they can also easily integrate into public chains very quickly. So I think the Ontology solution and technical services will be a very good choice for those enterprises. We are willing to support enterprises using our blockchain framework and technology. If you are interested, you are welcome to contact us.19. Do we have any plans for expansion and marketing penetration strategy in other promising continents like Africa?Jun Li: Currently we are more focused on Asia, Europe, and the North American market. Africa is also a large market. We want to do more community-led marketing work or business development work. If any community member or contributor is willing to do some contribution in Africa for Ontology, you are welcome to contact us and we will support you with resources, rewards, etc. We would love to have more community members to join us.20. Will part of the ONT be used for staking?Andy Ji: To celebrate the 1st anniversary of Ontology’s MainNet Launch, we’ve just talked with the core team and decided to stake 37,500,000 ONT, 3.75% of the total ONT supply and 100% of the ONT amount unlocked for the core team in 2019, into the consensus nodes. The decision shows the core team’s confidence in the project and the belief that Ontology will become a top-tier blockchain project in the world. It will be a good step for ecosystem development.Jun Li: Tokens allocated for Ontology’s core team have the longest lock period comparing with other public chain projects, which is four years. This staking shows our confidence in the project and our promise to build a long-term project. The team’s benefits will be linked to the Ontology project. We hope this will also bring more benefits to the community.21. Do you have any plans to work with other public chains in the future beside NEO?Jun Li: Yes definitely. Just as I have mentioned, this will be an open protocol. Ontology and NEO are the initial organizers or coordinators for this protocol. In the near future, hopefully, there will be more members to join the open protocol. It is open to everyone and all kinds of blockchain projects. We will welcome more partners to join this protocol.Andy Ji: Some regional public chain leaders like Tomochain and Icon have already agreed to join us. We will find more regional public chain leaders to engage in the TestNet. It’s time to collaborate with regional public chains and become a real network for the next generation Internet.Jun Li: This open protocol is different from other kinds of protocols which may be just a marketing event or announcement. Based on the engineering capability of Ontology and NEO, we have promised to work out the technical paper and its implementation. The cross-chain open protocol will be released very quickly, and we will develop a real application based on that as well. We are looking forward to it.22. What will Ontology be looking for when investing in other ecosystem projects?Jun Li: Ontology has a fund for that part. Since we have some ONTs allocated to our ecosystem partners, our investment in those ecosystem partners will bring more users to Ontology and help expand Ontology’s ecosystem influence. In the future, we will continue to support our ecosystem partners. If you have more projects coming that are based on the Ontology ecosystem, we would be happy to provide funding support.23. What steps are taken to facilitate the adoption, since the simplicity of the user interface is as important as the technology?Jun Li: Yeah, of course, one thing that you can see in the year is that our focus will be more on the protocol and industrial products. For the APIs, SDKs and protocols, we have built more user-friendly and easy-to-integrate protocols so that dApps and even other systems can use Ontology protocols easily.To have a better understanding of the product, you can check ONTO which has already become an open digital asset management client or wallet. We also support Ethereum tokens as well. In the future, we will support more and more different tokens. You can manage all your assets in ONTO, which now only supports digital assets, owner identity, data exchange, cross-chain, DEX and other DeFi services as well. We will build one of the best clients for individual users in terms of digital assets management and identity data management. Our product and services will become much better in the next phase.24. How do you intend to reach out to the current dApp developers from different platforms?Andy Ji: Right now, we are drawing some developers from other platforms such as Ethereum, EOS, etc. We also educate some traditional developers to user our Punica or other toolkits to easily convert traditional Apps to dApps. We have several ways to bring more developers to become dApp developers. We also have the dApp incentive schemes to support dApp developers in terms of funding, marketing, and operation. In the future, we will have a win-win model with developers and become a real global tech community. That’s our goal in 2019.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInSummary of Ontology’s MainNet Launch 1st Anniversary AMA was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 30

A Short Introduction to Ont...

→ Read the full Ontology Multichain design paper on GitHubForewordAs a distributed ledger technology, blockchain can be used in various sectors, such as finance, health care, supply chain, and asset management. However, limited throughput and scalability, and network isolation prevent blockchain projects from better serving business applications. Among these limitations, network isolation hinders the collaboration between different blockchains and significantly limits what blockchain can do.IntroductionCross-chain technology is the key to realizing cross-chain collaboration and the Internet of value. Simply put, cross-chain technology is a protocol that allows two blockchains to communicate with each other. Ontology’s cross-chain solution has already been released on its TestNet. This article will briefly explain Ontology’s multichain design.But before that, let’s take a look at some of the other projects in the market.Plasma: This much-discussed off-chain scaling solution on Ethereum achieves scalability by moving transactions off of the main chain to less congested side chains. Instead of modifying the underlying blockchain protocol, the solution moves most of the computation off-chain and submits the results to the main chain regularly or when necessary to ensure finality.Cosmos: Cosmos is a heterogeneous network that supports cross-chain interaction proposed by the Tendermint team. The first blockchain in the network is Cosmos Hub, which is the Cosmos MainNet, and the other parallel chains are called Zones, which achieve cross-chain operation with Hubs through the Inter-Blockchain (IBC) Protocol. In the IBC Protocol design, before the two chains connect to each other, they need to register with each other, and save each other’s validator set and Merkle Proof, so that the receiving chain can validate the message is correct. In the meantime, different Hubs can also interact with Zones through Hub routers.Polkadot: Polkadot is a scalable heterogeneous multichain system proposed by Ethereum’s core developer Gavin Wood. It is designed to address the issue of blockchain scalability. Polkadot sees other blockchains as parallel chains and it can transfer tokens from original chains to multi-signature addresses for a temporary lock-up period, which seems to be controlled by multi-signature through relay chain technology. The result of the transaction on the relay chain will be voted by these signees to determine whether it is valid. It also introduces phishers to report and monitor transactions. Cross-chain communication can be achieved by linking Polkadot to Bitcoin, Ethereum, etc.Ontology’s Cross-Chain DesignTo improve the interoperability between blockchains and their value exchange, Ontology has proposed a lightweight, low-coupling, safe, and reliable multichain system and cross-chain solution. The solution uses the Ontology blockchain as the main chain, and supports both homogeneous side-chains and heterogeneous side-chains, and allows interaction between the main chain and side-chains, and also between side-chains. When blockchains of different structures need to interact, dApps can realize this by invoking the cross-chain management contract.Figure: Ontology Cross-chain SystemThe Ontology chain network supports interaction between the main chain and side-chains, and also between side-chains. Its cross-chain design mainly includes the following parts:Multichain Management ContractIt is responsible for registering and managing side-chains, including the registration of side-chains, state management of side-chains, and management of side-chains’ ONG staking, fund pool, and change of validator information. The contract is deployed on the main chain.When side-chains register with the main chain, they need to submit some basic information, such as genesis block header and consensus switch epoch to the main chain. At the same time, the side-chain needs to initialize the current key block header information in its own block header synchronization contract. In addition, the side-chain needs to stake a certain amount of ONG onto the main chain to prevent malicious acts (not required for trusted side-chains).After registration, an ONGx fund pool will be assigned to the side-chain. Each asset transfer to the side-chain will reduce the size of the fund pool and vice versa.If the side-chain needs to exit, it needs to submit an exit application to the main chain and there will be a challenge period, during which users can convert their ONGx on the side-chain back to ONG. If they failed to convert back, they can submit the evidence to prove the malicious acts of the side-chain. After the challenge period, the side-chain can exit and redeem the stake.Block Header Synchronization ContractDuring the process of interaction between the main chain and side-chains, and between side-chains, key block header information must be synced to validate cross-chain transactions. When side-chains interact with each other, they obtain information about the previous key block header that requires cross-chain communication from the main chain. The block header synchronization contract is deployed on the main chain and each side-chain.Cross-Chain Management ContractAll cross-chain transactions are managed by the Cross-Chain Management Contract on the source chain. To realize cross-chain interaction, dApp developers only need to follow the instructions of the Cross-Chain Management Contract. The Cross-Chain Management Contract is deployed on the main chain and each side-chain.ONG (x) ContractThe asset contract allows the cross-chain transfer of assets, which can be used as transaction fees and mining fees for cross-chain transactions. The ONG contract on the main chain supports locking and unlocking cross-chain assets, and ONGx contract on sidechains can increase and burn cross-chain assets. The ONG contract is deployed on the main chain and ONGx contract on each side-chain.dApp ContractAny dApp contract developed and deployed by Ontology developers can realize normal business logic and invoke the cross-chain method in the cross-chain management contract to achieve cross-chain interaction. It is the on-chain part of the cross-chain dApp ecosystem.RelayerA state information synchronizer that constantly monitors requests from the cross-chain contract and some key block headers, and syncs cross-chain transactions or key block headers to earn mining fees.AfterwordIn this article, we briefly introduced the main components of the Ontology multichain design. We will share more details in future tech point articles.The Ontology cross-chain TestNet was launched in May. We have also prepared detailed Developer Manual and video tutorials for fellow developers. Try the TestNet and see what you can do with it.Ontology Multichain Documentation Link:Ontology Multichain Developer ManualCross-Chain TutorialVideo Tutorials Link:Ontology Multichain TestNetOntology Cross-chain Contract DevelopmentAbout the Ontology Research InstituteOntology set up the research institute in order to focus more on the research and development of core blockchain technology and strengthen the ability to explore, reflect on, and apply emerging technologies, as well as make contributions to the entire industry. At present, there are more than 10 R&D personnel in the Ontology Research Institute.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInA Short Introduction to Ontology’s Multichain Design was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 29

FAQ on Ontology Core Team’s...

In a live AMA on YouTube on July 24th, 2019, Ontology’s Founder Li Jun and Co-Founder Andy Ji announced that the Ontology core team decided to stake 37,500,000 ONT, 100% of the ONT amount unlocked for the Ontology core team in 2019. We are pleased to announce that the staking has completed.Since the announcement, we have received some questions from the community. To keep the community better informed, we have prepared the following FAQ.What is the staking amount? Where can we see the staking information? And when was the staking completed (at which block height)?The staking amount is 37,500,000 ONT. The amount equals to 100% of the ONT amount unlocked for the Ontology core team in 2019 and is 3.75% of the total ONT supply. The details are as below:1. Transaction hash: e187c0ba86c74645de3cc0bb9f75bb0f48a87123f039118262246de1af5c8692Block height: 5896843Stake amount: 3750000 ONTWallet address: ATmZZkN1YKftT2UAC1JQEGcTuT3z5Qq4PC2. Transaction hash: 0caf0d121ab0a88e96a903ffb9e63dd5302e9f1395527bc943647f31f046c6ecBlock height: 5896816Stake amount: 2500000Wallet address: ATmZZkN1YKftT2UAC1JQEGcTuT3z5Qq4PC3. Transaction hash: a521edc10760e6700b456cb287876bcaf4e2694d3db2b867a3541150b41b0f50Block height: 5896810Stake amount: 2500000Wallet address: ATmZZkN1YKftT2UAC1JQEGcTuT3z5Qq4PC4. Transaction hash: 8002b31d1a7dcb14f04cd557c7fada8d56a4edc980a2bb3688121a97d2f94b1cBlock height: 5896019Stake amount: 1500000Wallet address: ANZH6McmwUKABVKRbduGXfbbqhaz6Fxokd5. Transaction hash: 235f90622d920e6d50f921dfc46395b4af936d139d6b723702e4e08fddba4870Block height: 5896015Stake amount: 4000000Wallet address: ANZH6McmwUKABVKRbduGXfbbqhaz6Fxokd6. Transaction hash: f410045af7196350b6faa0ea5bc2b11e03c410aaebb0f9bf357abb14439a01b5Block height: 5896010Stake amount: 3000000Wallet address: AMgqgcQADQ8v7AcCeHia92vneRzhX1FMG47. Transaction hash: 26d3805445b50faa93fc93e9f9c3c0b19714d707ef6f26ae3838c4795d6cd07aBlock height: 5896002Stake amount: 2500000Wallet address: AMgqgcQADQ8v7AcCeHia92vneRzhX1FMG48. Transaction hash: cc6178f1c46338e23fd30573b3e37a63424e9dcb8425c7714ef492108e8f5e2aBlock height: 5895980Stake amount: 3000000Wallet address: AUtZgQxZQwnmzPa68zAphyxyByGFh9kDK49. Transaction hash: 134f9078d8d358d961bf1b5ee191104b4cc8dfcc448c2250513e1d88af8ceff7Block height: 5895972Stake amount: 2500000Wallet address: AUtZgQxZQwnmzPa68zAphyxyByGFh9kDK410. Transaction hash: 1771d61876584139316a105dbd5cc67fe0fbfa8e6b952ddbc1e358d23c7c421aBlock height: 5895943Stake amount: 3000000Wallet address: AbYiPDZLGD4qPzkx4b3fhDQUhaRWVJbyGd11. Transaction hash: 6f1097215e15b15263a61375494b0f3f4347a11252cadde571d0daa440266b94Block height: 5895936Stake amount: 2500000Wallet address: AbYiPDZLGD4qPzkx4b3fhDQUhaRWVJbyGd12. Transaction hash: d489df6269c071e334ea67226818106fd50775387bc77d31037f076844def6edBlock height: 5895900Stake amount: 3000000Wallet address: Ado2HUiKWwAfHGpoE4cWKSpzyAx99zQEX913. Transaction hash: d557f03200785f4208eec2a89840001c74bf63e7709bf66e891abda4b021e142Block height: 5895886Stake amount: 2500000Wallet address: Ado2HUiKWwAfHGpoE4cWKSpzyAx99zQEX914. Transaction hash: da7eab98f9aa89f5fdf5a0d491266a4b524398d2cb3cd58d6a9c9685752fe0deBlock height: 5892343Stake amount: 1200000Wallet address: ALWoJhgTY2j2SGg4bM5eBp7LeCrC9sp7Cc15. Transaction hash: e07f6c848d9579a80fb942bb4c1ecc8cd19f16bc47f5077162d1b4679310e49eBlock height: 5903955Stake amount: 50000Wallet address: ALWoJhgTY2j2SGg4bM5eBp7LeCrC9sp7CcWhere are the 37,500,000 ONT staked?The 37,500,000 ONT are staked in the Ontology consensus nodes.How long will the ONT be staked?The team intends to stake this ONT amount for a long time. The team is dedicated to growing the Ontology DeFi ecosystem and the number of active users and transaction volumes.How are the 37,500,000 ONT staked? (How many ONT are staked in each consensus node?)The 37,500,000 ONT are staked in the Ontology consensus nodes. You can see the staking information at https://explorer.ont.io/ or in OWallet.Will the staking of the 37,500,000 ONT dilute the rewards for staking users?Staking from the core team will not receive additional foundation rewards. The rewards distributed to staking users are decided by the node reward distribution system. The core team will not withdraw ONG rewards.How does the staking benefit the project and ONT holders?The staking first shows the core team’s confidence in the project and can reduce ONT circulation in the market. In addition, this is good for the long-term development of the entire Ontology ecosystem and enables the team to focus more on DeFi, game, data asset exchange, and other sectors.37,500,000 ONT is a big amount, why did the core team decide to stake them?The Ontology team has always focused on the long-term goals and growth of the project. The staking makes it clear that instead of short-termism, the team is committed to building a trust collaboration platform and a trust ecosystem.After the staking period is over, where will the 37,500,000 ONT go?The 37,500,000 ONT will be back to the core team.Why did the team stake the ONT instead of locking up the ONT?Staking is beneficial to the development of the Ontology ecosystem. Moreover, node information is open to all and fully transparent. Anyone can check the information anytime.How will the staking be regulated?Based on the innate features of blockchain, staking information is open to all and fully transparent. Anyone can check the information anytime and point out any irregularities.Do let us know if you have any other questions, thank you for your support.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInFAQ on Ontology Core Team’s Staking of 37,500,000 ONT was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 26

You can now use ONT to book...

Ontology is pleased to announce its partnership with Tripio, a leading travel blockchain project, on customer payments with ONT token. Tripio will connect ONT to its payment system, enabling customers to book and pay at more than 450,000 hotels all over the world with ONT. Besides, Ontology and Tripio will strengthen cooperation in the cryptocurrency credit card and protocol development based on the Ontology network.Blockchain technology creates new opportunities for the travel and accommodation sector. Based on its tamper-resistant blockchain technology and smart contract support, Ontology is helping Tripio move payment, transaction, rating, complaint, and dispute resolution process onto its smart contract platform. Thanks to the partnership, transactions recorded on blockchain can be tracked by anyone, which improves efficiency and reduces operational costs.Wesley Shen, Tripio CEO & Former SVP of Elong (Leading OTA in china) said: “The cooperation with Ontology will greatly enhance the influence of Tripio in the global cryptocurrency market. We look forward to working with Ontology in cryptocurrency credit cards, dApp expansion, and large scale commercial use.”Andy JI, Co-Founder of Ontology, said: “Ontology provides a general-purpose infrastructure platform for various industries and business scenarios. The partnership with Tripio is another big step towards that direction. We will continue to make people’s everyday life more convenient with our blockchain technology.”From today to August 1st, users can receive 5 times of cashback in TRIO, you can visit Tripio’s official website for more information.About TripioTripio is the first travel blockchain project in the world. Tripio has successfully integrated all processes of the lodging services such as listing, booking, payment and dispute resolution on-chain with smart contract, and achieved the excellent practice of decentralization in the trillion sized markets of travel and accommodation. Now, Tripio (token ticker: TRIO) has been listed on OKEx, Huobi Global, Bittrex, Bitfinex, Huobi Korea, Coinw, Hcoin, Ethfinex. Go to http://trip.io for further information.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInYou can now use ONT to book 450, 000+ hotels worldwide on Tripio was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 25

Ontology Global University ...

Ontology will soon hold a series of workshops at universities around the world. The workshops are aimed to help university students worldwide deepen their understanding of blockchain technology and equip them with the necessary knowledge for the future world.The first stop of the workshops will be in South Korea. Ontology will run a number of blockchain courses and share the latest developments of Ontology and the blockchain industry at large. Ontology’s Founder, Co-Founder, technical experts, and core developers will share their insights and answer questions from students at the workshop.So what makes this course stand out from other blockchain courses? What can this course offer? Let’s find out!1. Business-orientedThe Ontology network is specifically designed for businesses. For example, the Ontology sharding design serves business contracts and the cross-chain solution is used for asset exchange. The entire Ontology system is dedicated to serving businesses and creating a trust platform for healthy business competition, whereas other projects are more focused on the financial side from the very beginning. The core goals of these projects are to serve node operation and maintenance (miner) applications and increase their revenues.Ontology is dedicated to building a general-purpose infrastructure platform that can serve all business scenarios and strengthen the competitiveness of applications.2. Systematic Blockchain SolutionIf summarized in one sentence, the Ontology infrastructure solution is a compliant multi-chain solution that supports sharding, on-chain and off-chain applications.Based on the sharding design and cross-chain solution, the systematic solution can support complex token models, be customized, and can improve the performance of cross-chain homogeneous chains.3. New Business Opportunities for Traditional IndustriesOntology’s blockchain solution for businesses enables developers to easily develop blockchain applications and transform traditional Internet applications into blockchain ones. The course will elaborate on new business opportunities that the transformation will bring, how to better capture them, and how Ontology’s blockchain technology can help rapidly transform and upgrade traditional industries.Let’s now have a look at some of the core courses:1. Ready for All Businesses(1). Ontology blockchain solution for applications based on distributed data exchange protocol(2). Blockchain solution for account system(3). Blockchain solution for data value discovery and assetization(4). Data recording, tracing, and interaction during transmission(5). Data monetization(6). Ontology solution for cross-chain asset exchange(7). Ontology multi-layer scaling solution based on business development(8). Create your own high-value applications2. ONT ID — blockchain solution for self-sovereign account system3. Value of Information — data asset and asset tokenization4. DDXF — cross-system resource interaction, exchange, and transaction framework5. ONTO — Your Only Wallet6. Ontology Cross-Chain Solution — free exchange of assets between different chains7. Ontology Sharding — ultra-large scalability for businessesThe workshops will first be held at universities in South Korea, Japan, Russia, the US, and Germany. More details will be released later, stay tuned!Also, if you are interested in organizing events with us, send us an email via contact@ont.io.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Global University Workshop to be Launched Soon was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 23

How to Prove Who I Am?

In the blockchain world, users use their accounts to construct and send transactions. To verify transactions, an important step for consensus nodes is to “verify user identity”.Based on the philosophy of decentralization, in the blockchain world, there is no centralized account management node, instead, users create and manage their own accounts. Account models widely used today are built upon the public-key cryptographic technology. Users generate a key pair locally and use the public key to create an account according to certain rules. When creating a transaction, users use the private key to sign the transaction and add it to the transaction data. The blockchain then verifies the user identity by verifying the signature. Under this model, there is no need for a registration process, accounts can be “instantly created and used”.In reality, the blockchain technology focuses on “the private key users hold” instead of “the users who hold the private key”.If someone is unfortunate enough to have lost their private key, they will also lose access to their accounts and the assets therein. This tells us that private key is key to verification, therefore users must keep their private key safe, which is a big difference between blockchain and traditional centralized services.In centralized systems, user accounts are collectively managed by service providers. These accounts are at heart owned by service providers and users only have the right to use these accounts.Service providers typically use a combination of “account name + password” to verify user identity. The password is the key information that the user has. When the user loses the password, he can apply to the service provider for a reset. Since the account is actually in the hands of the service provider, it only needs to reset the password and re-authorize the user after using the auxiliary means to verify user identity.In this centralized environment, users need to believe that the service provider will not abuse their accounts and related data. With blockchain technology, ownership will be kept in the hands of users, and each user is responsible for their own account.The blockchain model provides the basis for better self-sovereign management and privacy protection. Since users must use their private keys to access their accounts, they must be more careful.There are several ways to improve this zero fault-tolerant account model. A common multi-signature account that supports threshold control is one of them.For example, an account with a (t, n) threshold can be verified as long as there are t signatures of n keys. Thus, even if one of the keys is inadvertently lost, the account can be accessed by another key.However, multi-signature account schemes of blockchain projects today mostly create accounts by n independent keys constituting the multi-signature group according to certain rules and traverses and verifies all the signatures of the transaction to see if the threshold is met. This type of multi-signature account does not support key recovery or updates. When users need to replace the key, they need to create a new account.One way to improve this is to build an account system using a secret sharing algorithm. The basic idea is to use an algorithm to split the private key into multiple shares and each share can generate a part of the signature. Once a threshold number of shares is reached, a complete signature can be formed.This algorithm supports the update of secret shares, and the updated shares are not compatible with the old ones, making the old shares invalid. Therefore, the account thus constructed can reset the shares while keeping the account (private key) unchanged when the shares are lost or stolen.Another simpler and more straightforward method is to decouple the account from the key. The user account is represented by a key-independent string and is bound to the user’s public key on the blockchain through registration. The registered account can then bind and unbind the public key arbitrarily. When operating the account, any signature that can be verified by the public key can be used to verify the account. On top of this, more complex and diverse control logic can be set as needed, and this account system greatly increases flexibility.ONT ID, Ontology’s decentralized identification protocol, is precisely using this model. Users can generate independent key pairs for different devices and applications and bind them to the same ID. Even if one of the keys is lost, users can still use other keys to unbind the lost key and bind new keys.Account system is a major challenge when developing and promoting blockchain technology. From algorithms to product design, only a secure and user-friendly account system can draw more users.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInHow to Prove Who I Am? was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 22

What is CounterFactual - Pa...

In the last tech point article, we looked at the definitions of CounterFactual state channel and concluded with some of its main features, including equivalence, fairness, and consistency. In this article, we will continue to analyze the three criteria in its definition and talk about its application boundary.Analyze the three criteria of CF state channelThe first criterion is equivalence. Since equivalence must be two-way, the smart contract execution environment in the state channel must be applicable to both the state channels and the blockchain, which requires:1. All input information of operation X in the state channel can only come from operation X itself.The smart contract can only rely on the state of the smart contract itself and not on any information from the blockchain (for example, block height and block time).In addition, relevant information must be initialized when creating and initializing the CF state channel. Since the CF state channel is independent of the blockchain and the state of smart contract on the blockchain is subject to constant change, unlike on-chain transactions, the CF state channel cannot anchor and access any on-chain data and can only access the unchangeable data in the on-chain state.2. The way operation X is carried out on the blockchain and in the CF state channel must be consistent.This is particularly true for software engineering. Since smart contract platforms may have flaws and the history of blockchain software cannot be tampered with, blockchain platforms can only upgrade its software through forking, which will cause some trouble for the CF state channel. Great care must be taken during software upgrade on blockchain platforms or shutting down the CF state channel instantly to ensure the equivalence in the CF state channel and on the chain.the second criterion is fairness. State update caused by each operation in the CF state channel must be viewable and verifiable to all participants. The participants in the CF state channel are fixed and the number is rather limited. Therefore, the CF state channel does not realize the trustless feature through the permissionless validation of a majority of nodes on the blockchain. Instead, it is achieved by each participant validating the state update of each operation itself.This criterion requires all participants in the CF state channel to run state channel validation themselves, which is a higher demand than for participants on the blockchain. However, smart contracts in the state channel generally require very little computation and can be done through improving the blockchain client.The third criterion is consistency and finality. All operations in the CF state channel must be consistent and instantly finalized. In the CF state channel design, any user behavior that violates the protocol can be penalized, so any state update in the state channel need to be co-signed by all participants to achieve instant finality. This requires all participants to remain online to maintain the operation of the state channel. This will not have much impact on simple applications or short-term applications, but for complex applications involving more participants or long-running applications, you will have to run in a similar way as proxy nodes or guardian nodes.Although we only scratched the surface of the definition of the CF state channel, we can summarize the requirements for the smart contract it runs and its participants. Based on this, blockchain application developers can decide whether their applications are more suitable for the off-chain operation of the CF state channel.What CF state channel can bring?Not only that, although the CF state channel is an off-chain scaling solution, what we should really learn is its designing. First, from the CF state channel protocol, we can clearly see the crypto-economics system design elements. More importantly, CounterFactual allows us to see a new way of applying cryptography. To put it more broadly, each blockchain can be considered as a CF state channel in the real world. All participants on the blockchain lock up assets in the real world and participate in the construction and validation of the blockchain network. From a smaller perspective, how do you design blockchain applications to better integrate blockchain and business needs? and could there be even a new business model based on CounterFactual’s designing? Those are all the possibilities CF could offer.AfterwordCF state channel is a very inspiring design and offers a new method of designing blockchain systems. In future tech point articles, we will further explain the philosophy behind CounterFactual and discuss what it can bring to other blockchain designs.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInWhat is CounterFactual - Part 2 was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 19

Ontology and NEO Come Toget...

Today, during a town hall meeting, China’s leading public blockchain projects NEO and Ontology announced a partnership to build an open cross-chain platform and establish the foundation for the next-gen Internet. As a new era of blockchain adoption approaches, the partnership will facilitate the industry’s accelerated growth by leveraging both parties’ strengths to introduce an efficient and inclusive interoperability protocol. Based on both parties’ leading positions, this partnership marks an industry-wide milestone.To fully deploy the capabilities of interoperability protocols, NEO and Ontology will recalibrate their respective strategic focuses to fully utilizing interoperability protocols. As such, NEO will focus on developing protocols and components to support a full spectrum of digital assets while Ontology will continue to build a future-proofed, decentralized identity framework.This groundbreaking interoperability protocol includes key features such as:· Eco-friendly approach to member chains: Specifically designed for cross-chain synchronization, the protocol will neither issue tokens nor include a dedicated smart contract system to protect member chains from cannibalization.· Low barrier of entry: Built to facilitate seamless technical integration, no protocol layer development or modification is necessary for existing blockchain projects.· Transactional atomicity: The protocol aims to achieve finality and atomicity in cross-chain transactions with a particular focus on cross-chain smart contract interactions to expand the scope of decentralized applications.· Enhanced security: A sophisticated set of mechanisms built on the technical and operational level will be carefully implemented to optimize security for cross-chain transactions and interactions.Speaking on this partnership, Da Hongfei, Founder of NEO and CEO and Founder of Onchain, remarked that, “This partnership represents the next step for not only NEO and Ontology but also the future of the blockchain industry as we pioneer a collaborative approach to solving tough problems. By building the foundation for a global cross-chain platform, we look forward to delivering real-life solutions and uses for blockchain by surmounting challenges and issues together. As we enter our next development phase, we hope to further accelerate industry growth by synergizing our strengths as China’s top two blockchain projects while also encouraging more projects and companies to join us in building the foundation for the next-gen Internet.”Li Jun, Founder of Ontology, noted that “By building an open and global cross-chain system, NEO and Ontology will promote cross-chain value exchange as well as business collaboration to establish the foundational infrastructure for the next-gen Internet. By continuously bolstering our technology and community, we aim to accelerate the development of blockchain applications for various industries to deliver diverse real-use cases.”As NEO and Ontology move to deepen their cooperation, both parties look to usher in a new era of blockchain development through their industry-first partnership. Moving forward, a white paper regarding the interoperability solution will be released in Q3 before the platform goes live in Q4. As the platform develops, both parties are pioneering a collaborative approach towards realizing next-gen Internet as part of their smart economy vision.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology and NEO Come Together to Build an Open Cross-Chain Platform for Next-Gen Internet was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 18

1 YEAR | How to win 32,100 ...

To pay our respect to every blockchain developer, we launched “the Ontology Klein Bottle Contest”, a technical challenge with unlimited solutions on June 29th on the occasion of the first anniversary of the Ontology MainNet launch.The challenge could have as many solutions as possible. This was aimed to encourage developers worldwide to stretch their minds and come up with the optimal solution by exploring the limits of blockchain technology.From June 29th to July 4th, we have received a dozen solutions from participants around the world. The contest also sparked up detailed technical discussions on Ontology’s Discord channel, below are some of the discussions.After careful review, the 85 lines of codes submitted by @backslash47 from the Czech Republic passed all the test cases, the codes are as below:See the source code on our GitHub.There is also a little anecdote. Just 15 seconds after code submission was closed at 10:00 on July 4th, a developer by the name of @littlebubble2015 submitted a solution, which, after testing, turned out to be the optimal solution.Based on the principles of fairness and transparency, we gave the rewards to @backslash47, who passed all the test cases within the time required. According to the contest rules, he won a total of 32,100 ONG.Like we said before, “just as you can never fill up a Klein Bottle, it is nevertheless a great achievement to explore the profound meaning of the universe within the limited space.” We are deeply impressed by what all the participants did to explore the limits of blockchain technology. Some of the participants also told us what they value most is not so much the prize as the chance to exchange ideas with and learn from other developers. This is what we have been doing and we will continue to promote the blockchain spirit in future events.We would like to say a big thank you to all the developers for your participation. We hope the spirit of exploration the Klein Bottle Contest has sparked will be passed on and we look forward to having more exchange of ideas with global developers to improve the Ontology technical community. Stay tuned for more developer events to come!Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedIn1 YEAR | How to win 32,100 ONG with 85 lines of code? was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 17

Ontology dApps are now list...

In April, we have announced our cooperation with DappRadar, the world’s largest dApp data and distribution platform. We are pleased to announce that Ontology dApps are now listed on DappRadar.Users can now track dApps running on the Ontology blockchain on DappRadar in real time, including transaction volume, activity, balance, etc.. Thanks to Ontology’s growing community and dApp incentive schemes, more dApp developers are launching dApps on Ontology and building up the user base in the Ontology dApp ecosystem. The partnership will certainly further promote growth.According to DappRadar’s website, DappRadar has listed 2,429 dApps on its platform, its 24-hour user number exceeded 160,000 and 24-hour transaction volume reached $2.3 million.To celebrate the partnership, Ontology is holding a 200,000 MIX airdrop event with MixMarvel. Follow the guide below and have the chance to win 100 MIX. Only 2000 spots are available!Event Time:09:00 July 11th — 09:00 July 18th (UTC)Airdrop Amount:2,000*100 MIX=200,000 MIXStep 1: Use your ONT address to sign1. Register and log into your ONTO, then generate or import ONT address;2. Open the “Get Airdrop” dApp, make sure your ONT address is automatically filled in, then fill in your ONT ID and ETH address for receiving tokens;3. Click “Submit” and pay 0.01 ONG to complete the address signature.Step 2: Use dApps on OntologyDuring the event, use the signed ONT address to access any dApp on Ontology and make transactions.Rules:1. Available quota:The first 2,000 users who participate in the event successfully (use your ONT address to complete signature and make transactions in any dApp on Ontology) will each win 100 MIX on a first-come-first-served basis.2. Distribution timeMIX is an ERC-20 token. The tokens you win will be sent before July 26th, 2019, to the ETH address you submitted during the signature process. If one ONT address has signed multiple times and submitted different ETH addresses, the last address submitted before 09:00 July 18th (UTC) will be used.3. How to download ONTO?Click the link https://onto.app/downloadpage on your mobile, download ONTO APP, then click “DApp” and find “Get Airdrop” in the banner ad or in the dApp list to participate in the event.4. How do I create an ONT ID?Open the “ONT ID” page on the ONTO APP, click “Create ONT ID” and follow the instructions to create your ONT ID. You can copy your ONT ID in the “Address Book” at the top of the “Me” page.5. The Ontology team will trigger an anti-abuse mechanism and double-check the accounts before the airdrop distribution, any suspicious account will be disqualified immediately.Find out more about the MIX airdrop here.About DappRadarAs the largest dApp data and distribution platform, DappRadar allows users to learn about dApp rankings with different criteria under each category, including users, transactions, volume, balance metrics and more. DappRadar provides developers and users with data tracking services that visualize market data by statistical charts and analytical insights.DappRadar has set a benchmark as the global dApp market data and analytics leader with its industry-leading fake traffic detection and spam filters.You can learn more about DappRadar by visiting its website.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology dApps are now listed on DappRadar was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 12

What is CounterFactual?

When people see something happening in real life, they tend to create possible alternatives that are contrary to what actually occurred. This tendency is named “Counterfactual thinking” by Daniel Kahneman, a Nobel laureate in Economics. You might wonder what CounterFactual has to do with blockchain?In this article, the author would like to share some of his thoughts on blockchain CounterFactual and what it can do for us.What is CounterFactual?CounterFactual (CF) thinking is, as it states: “counter to the facts”. These thoughts consist of the “What if?” and the “If I had only…” that occur when thinking of how things could have turned out differently. CounterFactual thoughts include things that–in the present–now could never happen in reality because they solely pertain to events that have occurred in the past.From the perspective of blockchain, CounterFactual means: the transaction result could be obtained on-chain, but in reality, the execution result is not obtained on-chain.In the off-chain scaling technology of blockchain, CF refers to CounterFactual Instantiation, which is derived from a state channel-based off-chain scaling technology proposed by L4Lab. It is widely studied and promoted as a type of blockchain scaling design in the field of blockchain research.CounterFactual Instantiation means that smart contracts can be deployed on the off-chain CF state channel, instead of being counterfactually instantiated on the blockchain. As long as all participants of smart contracts follow the methods defined in the CF state channel protocol, the execution results of the operations in the state channel are fully equivalent to those executed on the blockchain.Simply put, off-chain CF state channels can achieve the same results as the blockchain, which include not only the state data of smart contracts but also the trustless feature of the blockchain (traceability and irreversibility at its core). Since the results are the same, why not move most smart contract operations off of the chain, considering the limited blockchain performance and the cost-effectiveness of the off-chain solution.CounterFactual State ChannelIn the L4 Paper, the CF state channel protocol is defined as below:Roughly speaking, for any on-chain operation X that can be channelized, we use counterfactual X to talk about the case where1. X could happen on-chain, but doesn’t;2. The enforcement mechanism allows any participant to unilaterally make X happen;3. Participants can act as though X has happened.A Closer LookAs a coder, when I see an application protocol, the first reaction is to verify the completeness of the protocol, analyze its feasibility, create its application boundary, and then think about how to implement it.Let’s now take a closer look at the 3 criteria in the definition of CF state channel:1. First, CF state channel and blockchain execution environment are equivalent. Any operations in the state channel must be fully equivalent to those in the blockchain execution environment. Therefore, which execution environment users choose is irrelevant to the protocols;2. Based on the first criterion, the second criterion defines the fairness and trustless feature of CF state channel, or simply “being secure”. State channels are fair to all participants. State modification caused by each operation must be viewable and verifiable to all participants. Based on the first criterion, anyone can directly synchronize the state modification on-chain. Therefore, for state channel participants, CF state channels are as secure as blockchain;3. The third criterion defines the consistency and finality of CF state channel. Operations and channelized state within the channel must be consistent to all participants and must be instantly finalized. This can ensure the traceability and irreversibility of the state channel for all participants.AfterwordFrom the above, we can see that CF state channels fully possess the existing blockchain properties, such as consistency, irreversibility, security, and finality. Using CF state channels as an off-chain scaling technique will not compromise the security of blockchain applications.In the next articles, we will dive into the CF state channel protocol and take a look at its application boundary.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInWhat is CounterFactual? was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 11

New Rules of Ontology dApp ...

Dear community members,In December 2018, we launched the Ontology dApp developer incentive schemes. In January, the OEP-39 proposal submitted by the community was approved, which marked the beginning of the incentive schemes.According to the “Worker Ant Scheme”, if the number of qualified dApps is under 20, the top 5 will share a prize pool of 20,000 USD in ONG each week.The incentive schemes were originally aimed toProvide financial support for dApp developers and encourage them to improve their dApps;Reward active dApp users.Since the schemes were launched more than six months ago, we have discovered some problems: first, some dApp developers manipulated their dApp data in order to win the incentives, which is completely against our principles of openness and fairness and the blockchain spirit. Moreover, dApp users have not been able to receive their fair share of the rewards.After careful review and discussion, the Ontology team decided to make the following changes to the incentive schemes:50% of the weekly $20,000 prize pool in ONG will be given to dApp developers who can use the incentives to reward their users; the remaining 50% will be given to users who use ONT ID on ONTO to access the dApps. The prize pool will be accumulated starting this week and will be distributed 4 weeks later. Detailed rules will be released soon.Note: Users who download ONTO, create their ONT ID and use it to log into the dApps will be eligible for the 50% weekly prize pool.As the number of users increases, so does the 50% weekly prize pool; dApps with good user reviews will also be able to win extra incentives.The incentive rules for dApp developers will be released later, please follow our official announcements for updates.If you have any questions, please ask us on Telegram or Discord. Thank you for your understanding and support. Let us work together to build a fair and transparent dApp ecosystem.The Ontology team7 July 2019Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInNew Rules of Ontology dApp Developer Incentive Schemes was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 07

One-Year Anniversary of Ont...

Ontology has just celebrated the first anniversary of its MainNet launch on June 30th. We are now halfway through the year 2019. During the past 6 months, We have taken concrete steps to achieve ambitious goals. Below we share our progress in the first half of 2019 and our Q3 plan in a timeline. Click on the links throughout the article to read more on the topic.TimelineTimeline key🔧 Technology / ⛰ Milestone / 🤝 Partnership🎄 Ecosystem / 🎥 Offline event / ♟ GoalQ1 2019⛰: Ontology ranks in the Top 20 in CoinMarketCap market cap rank⛰: Ontology ranks fourth on China’s Latest CCID Rank⛰: Ontology Development Platform (ont_dev_platform) now available on Google Cloud, Amazon Web Services, and Microsoft Azure🎄: Ontology is seeing a fast-growing global community and hosting and attending events around the worldQ2 2019🎥: Ontology attends OKEx Cooperation Summit 2019 in Vietnam🔧: World-leading multichain design and TestNet with detailed Developer Manual and video tutorials released🤝: Ontology launches regulated USD Stablecoin PAX with Paxos🤝: gumi Cryptos Inc. and Opera Browser partnerships announced🤝: Partnership with Japanese Technology Accelerator TECHFUND announced🔧: Ontology Wasm and Oracle released🎄: Triones Node applications are now open⛰: You can now store ONT and ONG in 23 wallets🤝: Ontology and Beosin launch world-leading customized formal verification platform Vaas-ONT⛰: Ontology receives media coverage from 200+ mainstream and blockchain news outlets worldwide⛰: Ontology maintains an A rating on CoinMarketCap FCASQ3 2019🎥: Ontology holds the Klein Bottle Contest and will soon announce its global Developer Workshop Program🔧: Ontology will soon release “ONTO Global”, the new version of its official wallet, which supports all ERC-20 tokens🎥: Ontology will attend Invest Asia 2019 in September in Singapore and give a detailed introduction to ONT, ONG, and their financial derivatives♟: Ontology aims to reach the S rating on CoinMarketCap FCAS🤝: Ontology will soon cooperate with two social media giants (Facebook, Telegram, Kakao, and Line)♟: Ontology will soon build a global community of 500+ industry KOLs to further grow the Ontology ecosystemA big thank you to our community admins and other community members who help share the project message, answer questions, and provide crucial feedback to the Ontology team. You are of great importance to the future development of Ontology and adoption of blockchain technology. It has been a pleasure to work together.Thank you everyone for your continued support, we look forward to making more progress with you in the second half of 2019!The Ontology TeamFind Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOne-Year Anniversary of Ontology MainNet Launch: A 6-month Review of Ontology in 2019 was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 04

Ontology Announces Partners...

Ontology is pleased to announce its partnership with CoinLoan, a crypto-backed lending company. Through this partnership, CoinLoan will list OEP-4 standard Paxos stablecoin (PAX) and Ontology coin (ONT) on its lending platform and crypto exchange.The collaboration is expected to help these two companies that work in different sectors achieve a common goal: to push the boundaries of blockchain and crypto adoption and use. With this partnership, CoinLoaners will gain access to new currencies for lending and borrowing. At the same time, Ontology users will secure new possibilities in lending, borrowing, and trading scenarios.“ERC-20 PAX stablecoin has been already listed on CoinLoan for two weeks and evoked considerable interest among platform users. In the upcoming development update, we’re adding an OEP-4 PAX standard and ONT token. Both currencies will be available on the CoinLoan crypto exchange in trading pairs with EUR,” said Alexandr Faliushin, CEO and Co-founder of CoinLoan.The Ontology team believes that “projects from different vectors of technology should cooperate to build an open financial system. Our collaboration with a major crypto-lending market player like CoinLoan is a step towards enabling new application scenarios for Ontology users.”About CoinLoanCoinLoan is a crypto-backed P2P lending platform well known for its flexible user conditions. It provides an opportunity to lend and borrow fiat money, crypto, and stablecoins secured by crypto-collateral.CoinLoan’s crypto exchange feature allows users to convert crypto into fiat and vice versa without having to leave the platform. Partnering with Ontology allows CoinLoan to enter a new market. Furthermore, CoinLoan can now widen the list of options platform users have when lending and trading.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Announces Partnership with CoinLoan was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 04

Ontology partners up with H...

Recently, Ontology announced its partnership with Hexlant, a blockchain technology laboratory in South Korea, in cryptocurrency technology.The partnership will help expand the Ontology ecosystem. The proposed roadmap includes the Ontology node supporting, wallet app, dApp accelerator program, and developer community building.According to the announcement, Hexlant will support Ontology token (ONT) and Ontology gas (ONG) storage and remittance through its node API solution. In addition, SK Planet Syrup Wallet, an affiliate platform, will allow users to deposit, withdraw and stake ONT and ONG as well.Jin-ho Lee, CRO of Hexlant, said: “we will continue to develop Ontology-based projects and create documentation and framework for developers to build the Ontology community.Ontology has already signed an agreement with MovieBloc, an accelerated project by Hexlant, to establish a firm foothold in the Korean market. “As Korea is one of the most notable countries in the blockchain industry, there are many areas in which we can cooperate. We expect to improve our platform’s scalability in Korea with Hexlant’s technological support,” said Keyness CHENG, Senior Business Development Manager at Ontology.About HexlantEstablished in 2018 by former Samsung engineers, Hexlant is a blockchain laboratory that provides 11 main-net node solutions. With these solutions, it is conducting custody and smart contract businesses and providing a cryptocurrency wallet and a platform Tokenbank which offers cryptocurrency public information.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology partners up with Hexlant in cryptocurrency technology was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 02

One-Year Anniversary of Ont...

To every Ontology developer, user, ecosystem partner, and investor,June 30th is an important day. It has been one year since Ontology’s MainNet Launch. Over the past year, the blockchain industry has developed at a rapid speed. We have witnessed many ups and downs in the industry. What remains unchanged is that we stay true to the initial mission and are committed to applying blockchain technology to real business scenarios, which is why this year our slogan has been changed to “Ready for all Businesses”.We are now at a new starting point, and we will keep moving. The goal of Ontology is to build a public infrastructure for trust collaboration. In the next phase, Ontology will shape its brand image by striving to lead in technology, be developer- and user-friendly, and widely recognized.Thanks to our node ecosystem, the Ontology network is developing rapidly. Since the node application and Delegated Proof-of-Stake (DPoS) stake authorization were launched on the MainNet, the total staking rate across the blockchain has reached 10%, and all of this is supported by 49 Ontology Triones nodes across five continents. The number of global seed nodes that are providing application services has reached 376, which has ensured the capability of producing a new block within a second and a TPS of 5,000.In the next stage, Ontology will make node applications more widely accessible, let more nodes participate in the candidate nodes competition, improve the node staking rate of the whole network while ensuring its security and efficiency. In the meantime, we will lower the threshold for staking through technical upgrades so that even users with a small amount of ONT can participate in the staking economy. We will soon publish a Governance White Paper to improve decentralization, make governance more democratic and users more engaged.At the same time, to ensure all of this, first we need to improve and diversify node incentives. Ontology has put a lot of thought into designing node incentives and will integrate the ecosystem project incentives with Ontology staking to form an incentive pool. Users who participate in nodes and staking will be eligible for the incentives of the entire Ontology ecosystem. Since Ontology issued stable coin assets with Paxos, a regulated stable coin issuer in the US, decentralized finance (DeFi) has become our main focus in the future. We will bring the closed loop of Defi-stable coin-staking for users, forming a sustainable economic system. Following KMPlayer, two more Internet platforms with hundreds of millions of users will work with the Ontology ecosystem. We believe that Ontology will remain in the first echelon of the decentralized application (dApp) ecosystem.To lead in technology and be developer-friendly, we need the feedback and support from the technical community. Since launching the bounty program, we have received hundreds of applications and these teams have completed development tools and SDKs for more than 10 different programming languages. Through hackathons held across the globe, we have acquired excellent application tools, including STO issuance tools, Layer 2, and currency gateways. Our next step is to further open up by decentralizing the bounty center, the review process, and the bounty distribution process, making an open collaboration platform for developing bounty dApp possible, and building a new developer-driven community.The awareness of people-oriented community service is our rethinking of the global ecosystem community. To connect people, people and services, motivation and collaboration, we need a fast-growing user ecosystem, and this is where Ontology’s ONT ID digital identity system comes in. At the beginning of 2019, I unveiled Ontology’s plan for the international community that we will integrate the global user base ecosystem, including our communities on WeChat, Weibo, Facebook, Line, Kakao and Telegram. At present, we have channeled user traffic between two of the social media platforms. This can reduce the threshold for user conversion, and improve the efficiency of connecting traditional Internet and blockchain.Our main focus will be on the Japanese and US compliance markets. Our partnership with the Japanese listed company Gumi and the improved communication with JVCEA and JFSA will help Ontology — a top public chain in Asia, establish a firm foothold in the Japanese market with a fast-growing community. Many of our co-building partners in the US are top in the industry and will help Ontology enter the US compliance market, build a strong presence in the country, thus allowing more technical projects to strengthen their interaction with Ontology’s main chain.To improve the transparency of the community, we have been updating the community on our progress more frequently in 2019 by publishing weekly reports, instead of monthly reports. We have also organized more than ten online AMAs during which we have communicated with the community and shared our thoughts on the industry candidly. Moreover, we have launched a large-scale community incentive program — “the Ontology Renaissance dApp Incentive Program”. No one is perfect, and improving community governance is not a one-off process. We will be open to suggestions from the community on major issues, increase transparency, and implement real trust.Finally, now everyone talks about the convenience of Internet life, about the improved productivity and efficiency, and everything is intelligent. These key changes in the world are driven by a very small number of people. If change is inseparable from innovation, it will be inseparable from the long-term struggle between the new and old forces. To believe the digital economy is to believe in the future and believe in the blockchain infrastructure that supports all of this. During the course of history, those who question you, criticize you and oppose you will eventually be the reason for us to persist.We are now at a new starting point, and we will continue to move towards our goal.Co-Founder of Ontology, Andy JiJuly 1st, 2019Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOne-Year Anniversary of Ontology MainNet Launch: a Letter from the Co-Founder was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 07. 01

Ontology Sharding TestNet R...

→Read the full Ontology Sharding TestNet Developer Manual on GitHub here.On December 27th, 2018, we published the Ontology sharding design as an early open-source new year gift for the Ontology developer community.Over the past 6 months, the Ontology team has completed developing and testing the Ontology Sharding. To celebrate the first anniversary of the Ontology MainNet launch, we are now releasing the Ontology Sharding TestNet. We welcome developers to give it a go and offer your suggestions or feedback to help us improve.Ontology ShardingOntology is committed to creating a componentized, freely configurable, cross-chain supporting, high performance, and scalable blockchain infrastructure, making deploying and calling decentralized applications much easier.The Ontology Sharding supports the following features:Multi-layer sharding network structureSharding solution based on smart contractCross-shard message communication between smart contractsCross-shard atomic callTestNet EnvironmentThe Ontology Sharding TestNet includes three shards, which can achieve cross-chain interaction.We can see from the table above that the sharding network has 21 nodes as shown in the figure below:Multi-layer Sharding Network StructureAs can be seen from the above figure, all 21 nodes participate in the root shard. Amongst them, 7 nodes in green form Shard-A, and 7 nodes in orange form Shard-B.The entire sharding network forms a two-layer structure with 7 nodes participating only in the Root Shard at the top. The second layer consists of two sharding subnetworks.How to get Test TokensApply for test tokens here.The site allows one address to apply for 1,000 ONT and 10 ONG as test tokens once.How to Activate Sharding NodesThe complete process of activating a shard is as follows:Create a shard: Apply for a shard ID in the Root ShardConfigure the shard: Configure parameters of the new shard, including consensus and related parameters of the GasThe nodes join the sharding network: the nodes in the Root Shard join the new sharding network through stakingActivate the shardSharding Smart Contract DevelopmentThe Ontology Sharding adopts a sharding strategy for smart contracts, assigning smart contracts in the root shard to sharding, while assets can be kept in the root shard, thus simultaneously improving the performance of smart contracts and ensuring the security of blockchain assets.In the Ontology Sharding Network, all smart contracts are deployed in the root shard and smart contracts can run as follows:All-Shard: Smart contracts can run on all shards simultaneously.One-Shard: Smart contracts can only run on a single shard at one time.The state of the smart contract running on All-Shard will be saved in all the shards it runs on, so the state of the All-Shard smart contract will have to be saved as an account. In the current Ontology Sharding network, smart contracts based on shardAsset contracts can implement smart contract state management in the form of accounts. For details, please refer to OEP-9.Cross-Shard Smart Contract DevelopmentDeveloping cross-shard smart contract development is basically the same as developing Ontology smart contracts, except that two interfaces are added to the sharding network for calling cross-shard smart contracts. Ontology provides two interfaces for cross-shard communication: NotifyRemoteShard and InvokeRemoteShard used for asynchronous and synchronous call. Since cross-shard communication relies on network transmission, Parameters transmitted during cross-shard communication should be serialized into byte array.NotifyRemoteShardInvokeRemoteShardNotifyRemoteShard is used for asynchronous cross-shard call. However, the caller cannot get the call result of the callee, nor does it know when callee executes on the target shard or whether callee executes successfully or not.InvokeRemoteShard is used for synchronous cross-shard call. The caller can get the call result of the callee and can see it as delayed execution of cross-contract call. Since the call result is returned via network transmission, the return result of the callee should be the serialized byte array.Call Sharding Smart ContractYou can call the sharding contract using two methods: Ontology-Cli and Ontology-Go-SDK.Ontology-CliThe method of calling smart contract using Ontology-Cli is the same as existing Cli, except that you need to add one more parameter - -ShardID. The new --ShardID parameter is used to indicate the contract on which shard is called. If not specified, the default is 0. There are two limitations to using Ontology-Cli to call a sharding smart contract:Ontology-Cli needs to be compiled with the code in the Ontology sharding branch;Only the synchronous nodes which activate the Sharding TestNet can use Ontology-Cli. You need to synchronize the blocks on the shard whose contract you are going to call.Call Smart Contract with Ontology-Go-SDKUnlike Ontology-Cli, using Ontology-Go-SDK does not have the same limitations. For example, the sample codes for calling the cross-shard transfer of the smart contract example xshardassetdemo.py are as follows:Deploy Sharding Smart ContractNew smart contract features are supported in the sharding environment. The two most important features are presented in the form of OEP. See OEP-9 and OEP-11 for more details.To support these new features, the smart contract compiler has also been upgraded and has added Runtime API specifically for the new sharding network. At the moment, only the compiler for Python has been upgraded. See Ontology Sharding Compiler for the upgraded compiler. The method is the same as before.Likewise, in order to support these new features in the sharding environment, the transaction structure has changed. Currently, only Ontology-Go-SDK supports sharding transactions.Read the full Ontology Sharding TestNet Developer Manual on GitHub here.Please feel free to try the Ontology Sharding TestNet and let us know your suggestions and feedback. If you have any questions, please ask us on Discord.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Sharding TestNet Released was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 06. 30

One-Year Anniversary of Ont...

Today, Ontology celebrates the first anniversary of its MainNet launch. This project has been ongoing for around two years, during which many significant achievements were made in various fields. I would like to pay my respects and special gratitude to our core team, our partners, our developer community and the general community for their contribution.During this period, Ontology has actively engaged in technology, ecosystem and cutting-edge research and other aspects and has achieved great results.A Global View: Participating in the International Standards FormulationIn frontier research and standard construction, Ontology has carried out in-depth research in the threshold signature application, zero-knowledge proof, trusted secure computing, multi-party secure computing, etc., and has achieved a number of integrations.Ontology has participated simultaneously in formulating the standards of the three major international standardization organizations (IEEE, ISO, ITU-T), which is no mean achievement for a public blockchain project.On June 13th, we participated in the Second Board Meeting of the IEEE Standards Association in Panama this year. The two standards for P2140.4 and P2140.5 for DEX Framework using DLT (Distributed Ledger Technology) and Custodian Framework of Cryptocurrency, proposed by Ontology, were approved unanimously at the meeting.On May 27th, at the 5th plenary meeting of the ISO/TC 307 Blockchain and DLT in Dublin, Ireland, three Ontology use case proposals for pharmaceutical management, lifetime recruitment management and health care data management have all been accepted into the ISO Use Case Repository, showing how ONT ID and blockchain technology can empower real businesses.On April 9th, we, as the only public chain to attend and submit proposals in the 6th ITU-T FG Distributed Ledger Technology Meeting in Madrid with Huawei and Tencent, together with dozens of representatives from around the world to complete the mapping amongst the architecture templates and a number of world-class blockchain systems including Ontology, which verifies the accuracy of the technical reference architecture, providing multi-dimensional and high-value information for different blockchains and distributed ledger platforms.In the future, we will continue to participate in the formulation of international standards for blockchain in a prudent and rigorous manner.Technology-oriented: Leading the World in Major Technological BreakthroughsIn terms of the blockchain infrastructure, the Ontology MainNet has been running consistently for the past year and has become one of the most robust and stable blockchain systems. As for the research and development of blockchain infrastructure:Ontology has completed the sharding design at the end of last year, supporting three dimensions: network, transaction and state sharding. It adopts a hierarchical network to achieve ultra-large-scale network expansion through multi-layer network sharding. On January 11th, the Ontology sharding was unveiled for the first time at the global blockchain summit Blockchain Connect in San Francisco. Its TestNet is now online and developers are welcome to use and experience it.Amongst all the general and basic public chains, Ontology is the first to launch a Cross-Chain TestNet and has prepared complete technical documentation and video tutorials for developers. Our development platform ont_dev_platform has been added to Google, Amazon AWS and Microsoft Azure, providing a one-click deployment environment for developers around the world.At the same time, tools such as multi-VM smart contract platform Wasm, smart contract formal verification platform VaaS-ONT, Ontology Oracle and Python smart contract compiler have been released, and important progress has been made in the fields of trusted secure computing integration, all ranking at the top of the list amongst global public chains, together with a world-class overall infrastructure system.Trust First: Establishing a Trust Collaboration Platform that Supports a Wide Range of Business ScenariosIn terms of blockchain technologies that support real businesses, Ontology has completed the framework of a distributed ID System (DID) — ONT ID, connecting diversified data sources globally, fully upgraded the Distributed Data Exchange Protocol (DDXF) , which has become one of the most complete distributed data exchange protocols and designs, and has been submitted to be accepted as international standards. In addition, Ontology has been expanding important infrastructure modules such as distributed reputation systems in different business scenarios and has built a more complete distributed collaboration platform that supports various business scenarios.In the past year, the Ontology team has established partnerships with teams and companies at home and abroad in various industries, especially in the fields of finance, payment, and gaming. We not only help blockchain start-ups to build a trust ecosystem but also have deep cooperation with industry giants to help traditional industries break into the blockchain world. In the meantime, our strategies for digital identity, content copyright, and data exchange have also been recognized by our ecosystem partners.The Ontology ecosystem has also taken shape. The Ontology node incentive model and stake authorization incentive model have brought new motivation and ideas to Ontology, while the dApp incentive scheme has stimulated the growth of the partnered teams.Global Vision: Ecosystem Construction in all Regions Advancing SteadilyAs a distributed open platform project, Ontology has continuously expanded its global community.Communities covering 17 languages have been opened, allowing fans around the world to find the base of Ontology in any corner. In the United States, Europe, and South Korea, we have set up local full-time teams. The next step will be to further expand markets in Southeast Asia, South America, and other regions, and expand the globalization system and ecosystem of Ontology.In the past year, we have traveled all over the world. In Asia, we have held meetups, industry summits with local partners and hosted joint hackathon with Microsoft in cities like Tokyo, Seoul, Ho Chi Minh City, Singapore, Jakarta, while in Europe, our journey covers cities like London, Amsterdam, Dublin, Madrid, and in North America, we have also seen footprints of Ontology developers in cities such as Toronto, San Francisco, New York, Seattle, Boston, and Washington.Moving Forward: Fulfilling all our Commitments, and Continue to Advance AheadOver the past two years, we have been proud to have accomplished our commitments to the co-builders and the public in various aspects, which also has proved the Ontology ecosystem’s capability in technology, execution, and expansion, and has established an accountable, solid, credible project image. From core teams to community members, from co-builders to ecosystem partners, everyone’s persistence and efforts have enabled Ontology to create value for more distributed applications in a new phase. The core vision of Ontology is to create a“distributed trust collaboration platform” for all scenarios. During the two-year research and development, one-year steady MainNet operation and continuous technology development, we have already established a basic trust collaboration platform and achieved the first step of our vision: Ready for all businesses. We will continue to adhere to the real business strategy, taking every step in a solid manner, break the game with technology. We look forward to seeing more changes happen.“Trust” has been the biggest challenge of collaboration since human history. After generations of technology and system development, from tribe to country, from the industrial revolution to information interconnection, the human “trust” collaboration mechanism has been continuously improved, but also constantly challenged. Today, privacy protection, personal information ownership, data collaboration, and data authenticity are still plaguing us in collaboration. So far, in the current technology system, blockchain is the most promising technology to overcome these challenges and bring “trust collaboration” to a new level. Ontology is willing to work with all partners with the same goal to redefine trust.Ontology — Trust RedefinedFounder of Ontology Li JunJune 30th, 2019Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOne-Year Anniversary of Ontology MainNet Launch: a Letter from the Founder was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 06. 30

The Ontology Klein Bottle C...

The Klein Bottle was first described in 1882 by the German mathematician Felix Klein. It is an example of a non-orientable surface with no clear boundary. If likened to a bottle, it will be a bottle that you can never fill up. It is a two-dimensional manifold against which a system for determining a normal vector cannot be consistently defined. Its surface will never end.On the occasion of the first anniversary of the Ontology MainNet launch, we would like to pay our respect to every blockchain developer by presenting “the Ontology Klein Bottle Contest”, a technical challenge with unlimited solutions. To encourage developers to push back the frontiers of blockchain technology, we will choose the best solution submitted by developers in a week’s time and give away tens of thousands of ONG as rewards.Just as you can never fill up a Klein Bottle, it is nevertheless a great achievement to explore the profound meaning of the universe within the limited space.Challenge One: Regular ExpressionA regular expression is a sequence of characters that define a search pattern. Usually, such patterns are used by string searching algorithms for “find” or “find and replace” operations on strings, or for input validation. Most programming languages today offer a standard library of the regular expression. At the moment, the regular expression standard library for smart contracts on the Ontology platform still has room for improvement.The challenge is to develop a simple rule regular expression for smart contracts on the Ontology platform.Judging Criteria:Participants need to pass all the 200 test cases we have prepared. All characters are ASCII characters and the longest string has 1024 characters.Participants who used the fewest Ontology NeoVM instructions to complete all the tests will be the winner.The Ontology Klein Bottle Contest will be divided into 2 rounds.First RoundReward:Basic Reward Pool 50,000 ONGDeveloper Boost Reward Pool (up to 50,000 ONG)What is “Developer Boost Reward Pool”?The Developer Boost Reward Pool is the extra incentive aimed to encourage developer participation. 100 ONG will be added to the Reward Pool for every developer who signs up for the contest.How to sign up?Get GitHub-verified ONT IDDownload ONTOClick “ONT ID” and sign upComplete GitHub ID verificationSubmit the following information via Registration Form:GitHub-verified ONT IDGitHub accountYour email addressHow to boost?After submitting the above information, every time developers use their GitHub account to Fork and Star the Ontology MainNet code, the boost value will be added once, which means 100 ONG will be added to the Developer Boost Reward Pool. The amount of the Reward Pool will be updated every 24 hours, please refer to the Ontology official Twitter account for the latest amount. You can find the Ontology MainNet codes here.How to submit codes?After completing development and testing, developers must call the registry contract to record their ONT ID and contract hash (SHA-256) on the blockchain. You’ll have to pay 0.01 ONG for calling this contract as transaction fee. The tutorial is here.After completing the above steps, developers need to submit their contract source codes via submission form. The information you need to submit includes:Your ONT ID and email addressTransaction hash called by the registry contractContract codeRulesCode submission time: 10:00 June 30th — 10:00 July 4th (UTC)Participants who used the fewest instructions to pass all the tests will be the winner (for more details please refer to the challenge rules).If there is more than one optimal solution, then participants who submitted first will be the winner. The submission time is determined by the time they called the registry contract.If developers submit their codes more than once, we will judge the result based on the codes in the final submission.Winner AnnouncementThe winner list will be announced on July 5th (UTC).For further details, please refer to Ontology’s official Twitter or Facebook.What are the rewards for the winner?If the winner confirms to claim the rewards of the first round, then they can get 60% of the entire reward pool (Basic Reward Pool + Developer Boost Reward Pool). After that, the winner’s journey in the Ontology Klein Bottle Contest ends.The winner needs to decide whether to claim the rewards within 24 hours after the announcement by replying to our email, otherwise, the rewards will be automatically given to the winner.Want more rewards?The winner in the first round can accept challenges in the second round where all candidates have the chance to win the entire reward pool.Second round — Taking up the challengeTime: Within 24hrs of the Twitter announcement of the winner accepting the challenge.In this round, participants need to submit their codes to ontio/Anniversary via GitHub Pull Request. The list of developers who ranked in the top 3 in the previous round will be announced at the beginning of this round.Rules:All developers can continue to sign up and submit their solutions, including the first-round winners.If the solutions in this round are better than that of the last round, then the winner will win the entire reward pool, instead of the 60% rewards in the previous round.Please visit our GitHub for more details. If you have any questions, please ask us on Discord.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInThe Ontology Klein Bottle Contest opens today, a chance to win up to 100,000 ONG was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 06. 29

HotStuff: the consensus pro...

Recently, Facebook’s cryptocurrency Libra published its whitepaper and open-sourced its testnet codes on GitHub. In its whitepaper, we can see that Libra uses LibraBFT, a Byzantine Fault Tolerance consensus protocol. Since this protocol is derived from another consensus protocol HotStuff, it will help us understand what LibraBFT is by learning how HotStuff works.1. What is HotStuffHotStuff is a leader-based Byzantine fault-tolerant replication protocol proposed by VMware Research in March 2018. Its pre-printed version has been revised five times and will be officially published at PODC 2019 (2019 Symposium on Principles of Distributed Computing). Similar to many consensus protocols, its network is assumed to be a reliable and secure peer-to-peer network and its communication model adopts the partial synchrony model, which means there exists in the network an upper bound on message transmission delay. This upper bound is either unknown to the nodes in the network, or all the nodes know the upper bound and follow it after a certain unknown point.In this article, we will briefly explain how HotStuff works and break down how HowStuff achieves its goal by first introducing the PBFT consensus protocol.2. What is PBFTGenerally speaking, the goal of consensus protocols is to reach an agreement on system state in the decentralized network so that all (honest) nodes can transition from one state to another.Normally, PBFT uses two rounds of peer-to-peer message exchanges to achieve this goal.When the leader broadcasts its proposed (legal) state transition request to other nodes, as an honest node in the system, it first needs to know that enough nodes have also received this state transition request, that is, it can confirm this request is valid. Based on this, it also needs to know that enough nodes also confirm that the state transition is valid, thus confirming there is a consensus among enough nodes about the state transition.When the leader fails during the running of the protocol, for example, the node finds that it cannot communicate with the leader, then the leader needs to be replaced, which means there will be a view change. At this point, the node in the system broadcasts a view change request. When a node receives enough view change requests, it sends a view change confirmation to the new leader. The next view will start when the new leader receives enough view change confirmations.3. What is Basic HotStuffWe believe that the first change made by HotStuff, and the most important one, is to change PBFT’s mesh communication network to a star communication network, which means each communication will rely on the leader. The node no longer broadcasts the message to other nodes through the P2P network, instead, it sends the message to the leader, which processes it and sends it to other nodes. Thanks to the star communication network, the communication complexity of the system has been greatly reduced. Similar to PBFT, the leader proposes a state transition request, and other nodes check its legitimacy after receiving the request.Figure 1: Mesh communication network to star communication networkThe second important change HotStuff made is to merge the view change process with the normal process, which means there is no longer a separate view change process, thus reducing the complexity of view change. It can be seen that during view change in HotStuff, a node in the system does not need to confirm the message “enough nodes want to carry out view change” before notifying the new leader, instead, it can directly switch to the new view and notifies the new leader. HotStuff puts the behavior of confirming the message “enough nodes want to carry out view change” into the normal process. This is a new approach, but it will inevitably lead to a new phase of confirmation for the normal process. Therefore, HotStuff extends PBFT’s two phases into three phases.Having introduced these two changes, let us now take a look at the phases of HotStuff. The protocol for a new leader starts by collecting new-view messages from replicas. When the leader has collected requests from enough replicas, it will start a new view and proposes its own state transition request, and then send a prepare message to the other nodes. After receiving the prepare message, other nodes in the system verify its legitimacy and confirm the message by following the three phases below:PRE-COMMIT phase: When the leader receives prepare votes for the current proposal, it combines them into a prepare quorum certificate and then broadcasts it in precommit messages to all nodes, which is to show that enough nodes have confirmed the state transition request.COMMIT phase: When the leader receives PRE-COMMIT votes, it combines them into a precommitQC and broadcasts it in COMMIT messages to all nodes; replicas who received the message can lock the current state transition request so that a consensus decision can be reached even during a view change.DECIDE phase: When the leader receives commit votes, it combines them into a commitQC. Once the leader has assembled a commitQC, it sends a decide message to all the other replicas. Upon receiving a decide message, a replica executes state transition in the committed branch and starts the next view.Figure 2: The phases of Basic HotStuff4. What is threshold signature?To further reduce communication complexity, the third change HotStuff made is introducing a new cryptographic primitive: threshold signature.Assume there is a single public key held by all replicas in a (k, n)-threshold signature scheme, and each of the n replicas holds a distinct private key (shards). As long as there are at least k replicas who contribute a partial signature to the message, then the partial signatures by these k replicas can generate a complete signature, which can be verified by the public key.Generally, the size of the complete signature is unrelated to the number of replicas. HotStuff uses threshold signature to reduce the number of signatures in the consensus protocol. The Ontology team has done extensive research on the threshold signature scheme and we have come up with a number of solutions applicable to the blockchain. We will introduce these solutions in future tech point articles.We can see that in the three-phase confirmation of HotStuff, the so-called voting refers to the threshold signature on a message by the replicas, which is then sent to the leader. The complete signature is generated when the leader receives enough votes. The leader will attach this signature to the message of the next phase it sends to the replicas and the signature will be verified by them.Figure 3: (3,5) — Threshold signature5. The Pipeline of HotStuffIt can be seen that the three confirmation phases of Basic HotStuff have the same structure: other nodes vote on a message, and the leader combines the votes and broadcasts them to other nodes. These phases can be represented uniformly and pipelined. This is the fourth change HotStuff made: the pipeline of the consensus phases.Figure 4: The pipeline of Basic HotStuff (from the original paper)The pipelined HotStuff has improved on Basic HotStuff and carries out view change at each prepare phase. In fact, we can see that this essentially makes the prepare phase of the next view confirm the prepare phase of the current view, that is, the next prepare phase (implicitly) contains the pre-commit confirmation of the current view. Since all the phases have an identical structure, pipelining HotStuff can be achieved.6. AfterwordIn this article, we introduced how HotStuff consensus protocol works. In terms of communication complexity, the changes HotStuff made have brought about significant changes to HotStuff and have also given it new features, such as “Optimistic Responsiveness” discussed in the paper. Moreover, HotStuff is being used by Libra and some other projects.Many blockchain projects use BFT consensus protocols today, for example, Ontology’s VBFT consensus protocol, which combines VRF (verifiable random function) and BFT. We hope this short article can help you understand how HotStuff works and encourage you to learn more about LibraBFT, VBFT, and other BFT consensus protocols.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInHotStuff: the consensus protocol behind Facebook’s LibraBFT was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 06. 26

Ontology is to be listed on...

Ontology is to be listed on Zeux — another step towards bringing crypto to the massesWe are pleased to announce that Ontology will soon be listed to the digital wallet of Zeux, a London-based FinTech company that allows users to convert their cryptocurrency and pay in just one click. Ontology (“ONT”) holders will soon be able to use their tokens in all stores that accept Apple Pay and Samsung Pay.Zeux has a vision of bringing crypto to everyday life. It charges no fees for payments, crypto conversion, and transfers. With this partnership, ONT holders will see blockchain become even more a part of the mainstream and they will also be able to explore what else Zeux has to offer — a simpler way to pay, bank and invest in one place — the Zeux app.The Ontology blockchain connects blockchain and the business world. This means businesses can use the technology Ontology offers smoothly and enjoy all the benefits without extensive knowledge of how it works. Partnerships, like this one with Zeux, bring crypto to the masses — business, governments and all those who run them — by enabling people to use it as part of their everyday purchases.Commenting on the new partnership, Jun Li, Founder of Ontology, said: “as we strive towards being that trust layer, businesses and governments can participate in the new smart economy, but we also need to think about trust and mass adoption — if blockchain is to be the future. This new accessibility for ONT holders will drive adoption and uptake, something I passionately support”.Adding to this, Frank Zhou, CEO and Founder of Zeux, said: “we’re proud to be partnering with a company with reputable cryptocurrency leaders, relatively long-term presence in the industry and an already established history of success. As Zeux aims to bring crypto to everyday life, Ontology aims to bring forward a blockchain automation of trust. As Jun mentioned, to do this we need to think about the masses — and this is where I see our partnership flourishing”.More about ZeuxZeux is currently live in the UK and will be available in Europe later this year and the rest of the world by 2020. Zeux is available to download from the App Store and Play Store, sign up for your invitation code here.Zeux completed the presale of their token ZeuxCoin (ZUC) at the end of May, which raised 5000 ETH in less than 2 full days and gives its holders cashback on crypto payments and reduced investment transaction fees. Their last stage of token sales will be live on Latoken for the last 382 ETH from 28 June 2019.● Website: www.zeux.tech● Whitepaper: http://bit.ly/zeuxWP● Telegram Group: https://t.me/zeuxapp● Twitter: https://twitter.com/ZeuxApp● Facebook: https://www.facebook.com/ZeuxAppFind Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology is to be listed on Zeux — another step towards bringing crypto to the masses was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 06. 25

Ontology announces partners...

Ontology has just announced a strategic partnership with gumi Cryptos Inc. (“gumi Cryptos”). By cooperating with gumi Cryptos in games, entertainment, and marketing, Ontology is aiming to gain a foothold in the Japanese cryptocurrency market.gumi Cryptos’ parent group gumi Inc. (“gumi”) is a Japanese mobile games giant. Founded in 2007, gumi has developed and distributed many hit titles, such as “Brave Frontier” and “The Alchemist Code”. In May 2019, gumi Cryptos, a wholly-owned subsidiary of gumi, was founded to focus on managing gumi’s blockchain business. Related entities include gumi Cryptos Capital, a venture capital fund dedicated to investing in promising blockchain companies globally, blockchain game developer double jump.tokyo and next-generation SNS platform FiNANCiE.image from gumi Inc.According to CryptoCompare, Japanese Yen is the second largest fiat currency in bitcoin trading after US Dollar. According to Yano Research Institute, the market size for blockchain related services in Japan will reach JPY17.1Bn in 2019, representing a growth of 112% compared to last year.At the moment, even the best public blockchain projects in the world find it hard to understand and break into the Japanese market. Ontology is hoping to work with gumi Cryptos to fill the gap and build a strong presence in the Japanese blockchain and crypto market.Speaking on the partnership, Hironao Kunimitsu, Founder and CEO of gumi Inc., said, “the strategic partnership with Ontology will strengthen gumi’s presence in the crypto industry globally and deepen our understanding of the services and products that are based on blockchain technology. We are honored to be Ontology’s partner in Japan and look forward to more collaboration opportunities on Ontology’s Japan entry initiative, blockchain related investments and expanding the ecosystem together.”Andy Ji, Co-Founder of Ontology, said that “gumi is a great example of the expansion from mobile games to blockchain technology. The partnership shows both gumi’s recognition of Ontology’s global strategy and its embrace of compliance and their support of our plan for blockchain and gaming. We look forward to working with gumi to help upgrade traditional industries in Japan, solve their pain points, thus improving the digital economy in the country.”About gumiFounded in 2007, gumi Inc. (Tokyo Stock Exchange: 3903) is a leading global mobile game publisher and developer headquartered in Japan, with overseas operations in Korea, Singapore, Taiwan, and the United States. The company has a proven record of success in launching titles worldwide, such as the widely popular role-playing games Brave Frontier and THE ALCHEMIST CODE. gumi Cryptos Inc. is the blockchain arm of gumi Inc. that mainly focuses on the blockchain related software, contents development, and investment business.For more information, please visit https://gu3.co.jp/Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology announces partnership with gumi Cryptos Inc. was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 06. 24

Code is Law: a few thoughts...

Foreword: Since we started publishing the Ontology Tech Point articles, we have received a lot of positive feedback from our tech community, some of them have also expressed their wish to contribute. We welcome contribution from the community and high-quality content will be fairly rewarded. Today we selected an article by one of the community members, RandX, who shared some of his thoughts on off-chain scaling method in the following piece.I have read some blockchain articles about off-chain scaling methods, which suggested that complex business logic should be moved off the chain so that business verification and operations that need consensus can be done on the chain. A dApp developer myself, I want to share some of my thoughts on off-chain scaling.Why is off-chain scaling important?Blockchain offers users a trustless computing environment. For dApp users, the method of using blockchain is generally as follows:The user sends the signed transaction directly to the blockchain network, and cryptography ensures that the user’s signature is not forged. A trustless blockchain environment will ensure that user requests are processed by the correct smart contract (on-chain code).However, since the operation of the smart contract on the chain is generally based on the amount of computation consumed, if a smart contract is used to implement complex business logic, the user will have to pay a large fee each time the dApp is used. This will increase the burden on users to use this dApp, which is not conducive to its promotion. Therefore, in reality, most dApp developers generally implement their own complex business logic off the chain, and only perform business result verification and token settlement on the chain (using smart contracts). That is, most dApps today work as shown below:In order to further reduce the cost, and to facilitate dApp iteration and avoid the security risk of smart contracts, more often than not, dApp developers want to complete all business logic off the chain, and only process token settlement on the chain. dApp developers only call the business result validation logic on the chain when necessary (when off-chain disputes need to be resolved), which is the off-chain scaling method we are discussing in this article.2. Create an off-chain trustless computing environmentFrom the above figure, we can see that from the user’s point of view, the trustless computing environment includes the on-chain part and the off-chain part. In this scenario, the user sends his transaction off the chain, which is then processed by the off-chain code. When the user disputes the processing result of the off-chain code, the off-chain status is sent to the on-chain code to be processed, which is responsible for resolving user disputes. The on-chain code here mainly refers to dApp smart contract and off-chain code mainly refers to the result verification in the off-chain code, instead of all dApp business logic.On the blockchain, code is law. The code only refers to the code running on the blockchain platform, mainly including on-chain smart contracts, virtual machine, and ledger status related codes. As can be seen, in our current off-chain scaling solution, the on-chain code is law, while off-chain code is not law.Therefore, in the actual design, it is required that the logic of the on-chain code and the off-chain code need to be equivalent. Since the on-chain code is law, the development of the business verification logic can be completed using the development and testing process of the standard smart contract. However, since the off-chain code does not need to be implemented using a smart contract, its coding should be simpler and more convenient. However, this is often not the case. Since the on-chain code has already defined the relevant logic, the off-chain code must be 100% compatible with the logic of the on-chain code, that is, the off-chain code must be the state in ① and ④, and the state in ② and ③ may not exist, otherwise the user will be able to use this inconsistency for fraudulent behavior, and the on-chain code will not be able to identify the fraudulent behavior.3. ConclusionBased on the argument above, we believe in order to maintain a trustless off-chain computing environment, the business verification in the dApp business logic must be consistent on-chain and off-chain. How to keep it consistent then? A good method generally adopted by the community is Counterfactual instantiation. A simple explanation for CounterFactual is: off-chain operations can be sent onto the chain by users very conveniently, which means the on-chain code and off-chain code are equivalent. With the on-chain and off-chain consistency, dApps can encourage the vast majority of users to process their requests off the chain through protocol design, thus achieving scalability off-chain.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInCode is Law: a few thoughts on off-chain scaling was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 06. 24

What can Ontology Wasm do f...

Imagine you are a dApp developer and you have just launched a puzzle game dApp on a leading public blockchain platform after months of research and coding. Since its launch, the number of users has skyrocketed. Instead of becoming complacent, you began to think about what’s next:What will become of this dApp?Scenario 1: This puzzle game is super fun! The game has taken the world by storm since its launch, and is now on the most-popular dApp ranking! So you are thinking of bringing the dApp onto other top public blockchains to reach more users.Scenario 2: User growth soon reached a plateau. So you are thinking of moving the dApp to other platforms to explore new opportunities.You then realized that if the dApp can be instantly integrated into different platforms, it will enjoy long-term growth.However, you need to use different programming languages to develop dApps on different public blockchains. If you have the same problem, then the Ontology Wasm is just the right thing for you.What is Wasm?Wasm is a binary instruction format initiated by Google, Microsoft, Mozilla, and Apple. It enables deployment on the web for client and server applications.Wasm MVP standard is now supported by most mainstream browsers. Moreover, applications written in many other languages (C, C++, and Rust) can be compiled into Wasm byte code. An application ecosystem based on this greatly reduces the learning costs for developers.Currently, EOS is one of the few public blockchains which support Wasm VM. Some are still under development. The Rust community by far offers the most comprehensive support for Wasm, as its compiler and the standard library can be used directly. Some other languages are also carrying out experimental projects on Wasm, such as Go, Python, and Java.Introduction to Ontology Wasm Virtual MachineThe Ontology Wasm Virtual Machine runs in a sandboxed environment and uses the open-sourced Wagon project as the interpretation engine for Wasm. Based on Wagon, the Ontology Wasm blocks the types and methods related to floating-point numbers and added fee calculation.Contracts are deployed and called as follows:As can be seen, we distinguish NeoVM contract and Wasm contract using contractype field, and different types of contracts will run on the corresponding virtual machine sandboxed environment.Ontology Wasm AdvantagesC++ standard support:C++ is a very popular language and has a good developer base. C++ has introduced many modern programming language features since C++11, 14, and 17, such as type inference, lambda expressions, templates for variable length arguments, list initialization, rvalue reference, and perfect forwarding, which make C++ more powerful. The C++20 standard has entered the feature freeze phase and will be a major version after the C++11 standard. Currently, frozen features such as Module and reflection will be more convenient for developers. Thanks to the support of modern standards in C++, developers can pay more attention to their business logic.2) Rust support:Rust has been voted Stack Overflow’s most liked language for three consecutive years and offers the most comprehensive support for Wasm. Developers can use Cargo, a native tool, to compile Wasm byte codes directly. They can also use the existing standard library.3) Library support:The community offers a lot of readily available resources for both C++ and Rust, which can greatly reduce the costs for developers;4) Multi-language support:As the Wasm ecosystem grows, more smart contracts written in C++ and Rust will support Wasm, so that codes can be used repeatedly in the Wasm ecosystem.Ontology Wasm C++ Contract Development ToolOntology CDTOntology CDT is a C/C++ supporting Wasm contract development tool. It supports libc/libcxx/boost/libcrypto library. The most commonly used one is libcxx. Developers can also use the frequently-used vector, array, map, list, and queue data structures and methods. The Ontology CDT provides ont_cpp, a C++ compiler, Wasm-objdump, a decompiler, and Wasm-opt optimizer. Developers can use ont_cpp to compile C++ contracts into Wasm byte codes and deploy them on the TestNet.For more details refer to the links below:a. Introduction to Ontology Wasm C++ CDT;b. Introduction to Ontology Wasm C++ CDT interface and data structure;c. How to use Ontology Cli to deploy or call Wasm contract (take OEP-4 as an example):Ontology Wasm Rust Contract Development ToolRust is currently the best language to support Wasm. The Rust contract development tool we provide supports code distribution framework, optimizes memory allocation, contract storage management, and Ontology Blockchain API, a contract testing framework.a. Introduction to Rust contract development toolb. Rust contract development tool tutorialOntology Wasm Go SDKWe provide Go SDK for automatically deploying and calling Wasm contracts.a. Wasm Go SDK;b. Wasm Go SDK contract deployment and call samplesAre you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInWhat can Ontology Wasm do for developers? was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 06. 20

Ontology attends OKEx Coope...

The OKEx Cooperation Summit 2019 was held from June 15th to 16th in Ho Chi Minh City, Vietnam. As the Chief Summit Partner, Ontology attended the summit with multiple ecosystem partners. The event drew an audience of over 1000 people.Jesse Liu, Marketing Director of Ontology, spoke at the summit and gave a detailed introduction to Ontology’s vision, roadmap, technological breakthroughs, ecosystem partners, and community growth. He said that globally Ontology has over 200 core members, 190 ecosystem partners, 2 million community members, and 900 developers.“Thanks to the growing Ontology ecosystem and our partnership with MovieBloc, a blockchain-based film distribution platform with 812 million users, and PAXOS, a regulated stablecoin issuer, we have seen a dramatic increase in the number of users. Our expansion to the Vietnamese market is another big step in this direction. And we will continue to build a better ecosystem for our community”, said Jesse.In an interview at the summit, Jesse also revealed that Ontology already has a clear business strategy and a complete public blockchain system, and will continue to serve traditional industries, especially business entities with hundreds of millions of real users.These users will be channeled to the Ontology ecosystem via ONT ID, which can lead to higher demand for ONG and node staking, thus boosting the demand for ONT. “Our partnership with MovieBloc is a perfect example of this strategy. We will announce more such partnerships in the near future”, said Jesse.Jesse also introduced the features and vision of PAX, the Ontology-based OEP-4 stablecoin at a panel discussion on stable coin later that day. He said OEP-4 PAX can better serve the traditional industries in the Ontology ecosystem and will be essential for channeling user traffic into the Ontology platform. In the future, a lot of Ontology’s user traffic will come from OEP-4 PAX, so that it’d be easier to integrate with third-party exchanges and wallets. OEP-4 PAX will also play a key role in the Ontology cross-chain solution, enabling users to link blockchain and the real world.In response to the questions about Ontology’s dual-token system and dApp market during a live AMA session, Jesse explained that Ontology uses a dual token (ONT and ONG) model. ONT is the governance token and can be used for staking in consensus, whereas ONG is the utility token used for on-chain services. Since the MainNet launch, ONT generates ONG periodically.He also emphasized that in terms of the dApp market, Ontology is focusing more on the quality of dApps and more applications in real business scenarios, instead of focusing only on the dApp quantity and gaming.This is the first time OKEx has established a comprehensive strategic partnership with a leading blockchain project. Through this partnership, Ontology will have access to OKEx’s resources in Southeast Asia and the two sides will work together to explore technical solutions and future trends in the region. Ontology will also work with our ecosystem partners to better serve the traditional industries in Vietnam and build a better ecosystem for our community.Finally, we would like to thank our partners OKEx, MovieBloc, Muzika, GoWithMi, Allive, and MixMarvel for their support. Most of all, a big thank you to our fans in Vietnam, who make our work so meaningful and motivate us to work harder.Xin chào, tôi rất vui mừng được gặp bạn!Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) /Telegram (Vietnamese) /DiscordTwitter / Reddit / Facebook / LinkedInOntology attends OKEx Cooperation Summit 2019 in Vietnam was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 06. 17

Ontology’s Strategic Vision...

Ontology is dedicated to working with the community to develop a win-win global ecosystem, with the aim of building a blockchain network capable of serving all businesses, and public infrastructure for trust collaboration, thus empowering business.We have long worked with investors and the community to explore new areas, such as gaming, DeFi, and the attention economy (content, short videos, and advertising trade). We will continue to do so and launch products and protocol frameworks that can be widely adopted. With the adoption of the community and the growing demand of enterprises, we are aiming to work with the community to iterate products in a more agile manner, to make Ontology the most widely adopted blockchain network in the market.More specifically, in the next stage, Ontology will strive to lead in technology, be developer- and user-friendly, and widely recognized.1. Leading in technology: To be a public blockchain project leading in scalability, stability, and performance (sharding, layer-2, high-performance chain network, and decentralized storage);2. Developer-friendly: Provide comprehensive interfaces, tools, and documentation for all developers;3. User-friendly: Provide highly secure and intuitive applications for end users;4. Business recognition: Use distributed identity, data, reputation, and contracts to build modules suitable for various business scenarios.Leading in Technology:As a public blockchain leading in sharding, layer-2, high-performance chain network, and decentralized storage, Ontology 2.0 has greatly improved its performance and scalability.▪ Sharding design: Network sharding is achieved based on hierarchical network architecture, and Ontology transaction shards are based on smart contracts. Shards communicate with each other through a reliable message queue and the verifiability of messages between shards is achieved with Merkel proof;▪ The first multi-VM smart contract platform (NeoVM, Wasm, and more): This platform further improves multi-language contract development, supports the seamless interaction between virtual machines, and optimizes the performance of virtual machines by a factor of three to five;▪ Parallel execution optimization: Parallel transaction pre-processing and efficient pre-execution mechanisms not only filter valid transactions for the system but also suit the convenience of dApp developers;▪ IO optimization: Optimize the back-end data model to achieve read-write separation of back-end data and improve the efficiency of the execution of ledger and smart contracts;▪ P2P network optimization: Create a P2P network module which allows higher scalability and fault tolerance, and pluggable P2P routing algorithm to better support the customized needs of the Ontology multichain design;▪ Cross-chain solution: The more modularized and configurable Ontology blockchain architecture makes it easier for ecosystem co-builders and developers to build their own Ontology side-chains; the interaction between both homogeneous and heterogeneous chains strengthens the cooperation between blockchain projects, thus making Ontology the public infrastructure for trust collaboration, which can better serve the blockchain ecosystem.Developer-friendly:The success of Ontology could not have been possible without the support of our developer community. Therefore, another of our continued focuses is improving the IDE toolkit, thus helping developers build their dApps on the Ontology platform.▪ The collaboration layer connects blockchain applications on the bottom and business applications on the top, and provides a complete set of APIs, which allows developers to build all types of applications;▪ Improve IDE tools to make contract and dApp development easier;▪ Promote the general-purpose ONT ID service to achieve easy interaction between traditional applications and on-chain assets;▪ Provide better SDKs for mobile and gaming engines to create good user experience;▪ Create one-click deployment tools which are compatible with mainstream public clouds to help developers use the platform;▪ Provide multilingual and readable developer documentation for the global developer community;▪ Create a contract content hub whose open-source smart contract codes can be shared, searched, and used by developers;▪ Provide comprehensive external resource integration for developers, such as globalized KYC, more distributed data sources, and more trusted data sources (Oracle).User-friendly:Based on the distributed blockchain technology, Ontology is dedicated to providing end users with highly secure and intuitive products that have a unique value.▪ Improve Punica toolkit and simplify dApp templates to help dApp developers get familiar with the main on-chain features;▪ Integration of OS native cryptographic modules can improve asset safety;▪ ONT-login feature integrated into dApps and linked to Facebook, Google, Twitter, and WeChat;▪ dApps are allowed to run Layer-2 state channels to reduce transaction costs, and even pay the transaction fees for users;▪ Decentralized storage allows dApps to keep in custody any required documents;▪ ONTO has been upgraded to a comprehensive blockchain end application, which supports more platforms, assets, and applications, thus providing one-stop services for users.Business Recognition:Large-scale distributed applications need a digital platform and real business. Using distributed ID, data, reputation, contracts, and other mechanisms to establish a connection module suitable for various business scenarios, and build a distributed trust collaboration platform to become the global trust collaboration infrastructure.▪ Further upgrade the modules of the distributed trust collaboration platform to — distributed identity, data, reputation, and contracts — to support global business collaboration;▪ Deliver high-performance infrastructure, and provide a technology platform that can meet enterprise-level business needs;▪ Customized services to meet the needs for privacy, copyright protection, and other enterprise-level needs;▪ Seamlessly link token and new businesses of enterprises;▪ Meet the security and SLA needs of enterprises, such as supporting hardware keys and account recovery based on the sub-accounts of the contract;▪ Contributed to the formulation of ISO, IEEE, W3C, and other international standards compatible with Ontology modules, which have won worldwide recognition.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology’s Strategic Vision for 2019 was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 06. 12

An introduction to Ontology...

Last time we introduced Ontology smart contracts. In this article, we will talk about SmartX, a one-stop IDE that can be used to compile, deploy, invoke, test, and debug smart contracts. It provides a range of smart contract templates and a powerful online editor. By reading this article, developers will know how to write, compile, deploy, and invoke smart contracts using SmartX.Chapter 1: Create ProjectVisit https://smartx.ont.io, then select your ONT ID file and enter your password to sign in as shown in the figure below. Developers can also use their GitHub account to log in.After you have signed in, you will be directed to the project list page, where you can choose to open an existing smart contract project or create a new one.Chapter 2: Write and Compile Smart ContractsAfter you have created a new project, you can choose your preferred programming language to write a smart contract. Currently, C# and Python are supported. We recommend you to use Python smart contract since it has the most complete technical support. Then you enter the main editor page where the contract editor is in the middle, the running output is printed in the bottom, and the operation panel is on the right. Developers can start writing smart contracts in the editor, and there are many templates readily available.After you finished writing your smart contract, you can click the Compile button on the operation panel to compile your code. If your code is correct, your smart contract will be compiled to the ABI and AVM file and will be displayed on the operation panel.Chapter 3: Deploy Smart ContractNext, you can deploy the smart contract on the Ontology blockchain by clicking the Deploy button, and Cyano Wallet will be invoked to sign and pay the required ONG amount. Deploying contract costs about 10 ONG. Cyano Wallet will be used to deploy and invoke the smart contract. See How to Use Cyano Wallet.The result of the deployment will be printed in the output box. You can copy the results of the transaction hash to the Ontology blockchain browser to further confirm if the deployment is successful. In addition to SmartX, you can use the Ontology SDK to deploy a contract.Chapter 4: Invoke Smart ContractFinally, you can run the method of your contract. You can select the method you want to run, enter the correct parameter value, click the Run button, and invoke the smart contract. After you click the Run button, Cyano Wallet will be invoked to sign and confirm the transaction.The result of the invocation will be printed in the output box. In addition to SmartX, you can use the Ontology SDK to deploy a contract.Chapter 5: ConclusionSmartX also provides a variety of tools that allow developers to exchange all types of data, such as converting the public key into an address and withdrawing private keys from Keystore.In the future, SmartX will also support Ontology — WASM online compiler and more programming languages, including Java, Rust, Go, and JavaScript. SmartX will work like GitHub to be a distributed software project hosting platform. It will support multiple people to participate in and share a complex contract, and at the same time, implement a set of economic incentives and integrate fair governance policies to reflect the contributions of each participant, which will encourage smart contract writing, transaction, collaboration, community building, and the development of a valuable smart contract ecosystem.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInAn introduction to Ontology smart contract tool SmartX was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 06. 08

The 49th node joins Ontology

Last month it was announced Ontology Triones node applications would remain open and the network would continue to grow as business on Ontology grows.KarathenKarathen has now joined the Ontology Triones candidate node network with a current stake of 100,010 ONT. Karathen is a decentralized multi-chain wallet app which supports ONT, BTC, ETH, NEO, and EOS. It also supports dApps and different kinds of hardware wallets. Karathen will soon support Ontology dApps and promote them within their community.Consensus node reward adjustmentsOntology recently expanded its consensus network to 8 nodes, welcoming Jumple Foundation to the consensus network. As the consensus network continues to grow, Ontology would like to create a fairer opportunity for candidate nodes joining the expanding consensus network to offer competitive reward shares to users authorizing stakes in them. That is why the reward proportion for authorized stakes in the original 7 Ontology Foundation-managed nodes (Mixar, Alioth, Dubhe, Merak, Phecda, Megrez, and Alkaid) each recently reduced their reward share to 80% after Ontology suggested lowering the reward share. The reward deduction will pay for node operation costs and the remainder will be put towards ecosystem funds.We are in the process of introducing new consensus node partners and are confident in that creating this new reward structure will attract more big players to Ontology. We will announce detailed information on how Ontology plans to increase its consensus network in the upcoming Governance White Paper. In the meantime, if you would like to become an Ontology node, read more and apply here.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInThe 49th node joins Ontology was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 06. 06

Ontology participates in Cr...

Ontology Participates in CryptoChicks Hackathon in TorontoLast week, Ontology participated in the CryptoChicks hackathon in Toronto, Canada. CryptoChicks invites all women to learn blockchain technology in-depth and then implement it in a project of their choice. Their sponsor BlockGeeks.com provides all female participants with free online blockchain education.CryptoChicks ran a hackathon following a three-day conference in which they invited outstanding blockchain professionals from all over the world to speak and share their knowledge.At the hackathon, Ontology held two workshops which introduced ONTO, Ontology dApps, SmartX, and Punica. Three teams developed on Ontology, together sharing a prize of $2,500 between them.Erick Pinos, Ontology Ecosystem Development Partner, presented Ontology to an audience of over 100 attendees prior to announcing the Woman of the Year Award to Ananya Chadha, who won the CryptoChicks hackathon the previous year. Chadha was awarded $2,500 in ONT.Thank you to everyone who attended!Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology participates in CryptoChicks Hackathon in Toronto was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 06. 06

An Analysis of Ontology Sma...

An Analysis of Ontology Smart Contract Security and Loopholes — Part 2→ Read part 1Foreword: The security of smart contracts is one of the hottest topics in blockchain technology. All the existing smart contract systems have shown some types of loopholes, whether they are backed by the Ethereum Virtual Machine (EVM) or the EOS WASM Virtual Machine. These loopholes have caused huge losses for projects and users, and have called into question the security of blockchain technology.Chapter 1: IntroductionIn our last article, we talked about cross-contract call attacks, a type of potential loophole attack that may happen when developing smart contracts on Ontology. Now you know how to prevent such an attack, we will go on to introduce another type of security threat and its solution.But before that, we will briefly introduce how transactions are executed and how fees are charged after the node that generates blocks has bundled the transactions into blocks on the Ontology blockchain. The process can be divided into four steps:The blocks are confirmed by consensus validation;The transactions in the blocks are executed locally;Fees are charged for each transaction, and insufficient fees result in transaction failure;After transactions are executed successfully, the transaction state will be stored in the local ledger; if the transaction fails, then the transaction state will not be stored.As can be seen, transaction execution happens before transaction fees are charged in the block. We also know that transaction fees on Ontology are paid in ONG, and each transaction charges a fee of 0.01 ONG. The transaction execution process and the way transaction fees are charged are working fine following the normal execution logic. However, in special cases, inattention to writing smart contracts may lead to a new type of security threat: force transaction failure attack.Chapter 2: Force Transaction Failure AttackThe Ontology blockchain adopts a dual-token system of ONT and ONG, and supports both homogeneous and heterogeneous tokens, including OEP-4, OEP-5, and OEP-8 tokens. Normally, dApps will use one type of token, for example, ONG. We can see that ONG is both used in dApps and as transaction fees.Developers need to pay special attention to this issue, as it may cause force transaction failure attack.Here is an example. Let us say there is a simple real-time guessing game where users use ONG to guess numbers and send guess-the-number transactions. Users who guess the number correct will receive a certain amount of ONG as rewards, otherwise, the user will lose the ONG they use for guessing the number. For each guessing, users need to pay some ONG as transaction fees. Below is a code sample of such a smart contract:The code sample uses _rollANumber to get a random number. If the user’s guessed number matches the random number, then the rewards the user receives will triple.According to the transaction execution logic of the Ontology blockchain, the user transaction will be executed before transaction fees are charged, and whether the transaction state will be stored will be based on the transaction execution result. In the above example, a malicious user uses all the ONG in his account to guess the number, if he guesses right, then he will get rewards and pay the transaction fees. But if the user guesses incorrectly, since all his ONG has been used to guess the number, the user will have no ONG to pay for the transaction fees and thus the transaction will fail. As a result, the user will not lose his ONG. Obviously, the malicious user will be winning all the time.Chapter 3: Prevention of Force Transaction Failure AttackHow do smart contract developers prevent such attacks? One viable option is to check whether the user who calls the contract has enough ONG as transaction fees at the very beginning. In the above code sample, smart contract developers can solve this problem by adding some restrictions in the contract, that is, users are not allowed to use all the ONG in their accounts and there must be enough ONG to pay for the transaction fees.The code sample is as follows:We can see that here the smart contract developer adds _avoidForceTxFailureAttack to check whether the user has enough ONG to pay for the guessing and transaction fees.In the contract, this method is at the beginning of the execution logic, which means if the user does not have enough ONG in his account to pay for transaction fees, then the transaction will fail automatically. By doing this, smart contract developers can prevent malicious users from taking advantage of the loophole to attack the contract.Chapter 4: AfterwordThis article introduced the second type of potential attack Ontology smart contract developers may encounter and gave the solution. In our future tech point articles, we will continue to talk about other types of loophole attacks to help Ontology smart contract developers avoid potential loopholes.Ontology smart contract developers can also use VaaS-ONT, an automatic smart contract formal verification platform integrated into SmartX, the Ontology smart contract IDE, to locate risky code and find out the cause in one click, which can verify common security loopholes, security properties, and function correctness of smart contracts or blockchain applications, thus improving security.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInAn Analysis of Ontology Smart Contract Security and Loopholes — Part 2 was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 23

Ontology Participates in Co...

Consensus Construct 2019Erick Pinos, who recently joined Ontology as an Ecosystem Development Partner for the US, gave a talk on day three of Consensus to a group of developers, investors, and reporters highlighting Ontology’s technical infrastructure and achievements. Erick shared Ontology’s progress in sharding implementation, which is currently 55% complete, and also covered recent partnerships and dApps. Ontology has a variety of new partners doing everything from running nodes (Sesameseed) to expanding Ontology’s functionality a stablecoin (Paxos).Sharding Consensus 2019Ontology, QuarkChain, Ethereum, Zilliqa, and other projects joined at this event to discuss sharding as a solution for blockchain scalability. Erick joined in a conversation on why sharding is a key component for blockchain to scale. Many of business use cases for blockchain like financial services and settlements need fast transaction times which blockchain currently cannot provide — sharding allows blockchain to achieve higher transactions per second, enabling many of these business use cases to become feasible.→ Read more about Ontology ShardingFind Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Participates in Consensus 2019 was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 23

An Analysis of Ontology Sma...

An Analysis of Ontology Smart Contract Security and Loopholes — Part 1Foreword: The security of smart contracts is one of the hottest topics in blockchain technology. All the existing smart contract systems have shown some types of loopholes, whether they are backed by the Ethereum Virtual Machine (EVM) or the EOS WASM Virtual Machine. These loopholes have caused huge losses for projects and users, and have called into question the security of blockchain technology.Chapter 1: IntroductionThe security loopholes of smart contracts are not caused by blockchain virtual machines — most of them are coding issues caused by smart contract developers. For example, some Ethereum smart contract developers are not well-versed in Solidity, which increases the risks of loopholes. Of course, some security loopholes are caused by certain features of the smart contract platforms themselves. Moreover, since data on blockchains is inherently tamper-resistant, these loopholes cannot be closed by upgrades or data rollbacks. Therefore, it became all the more important for smart contract developers to have a full understanding of existing smart contract systems on blockchain platforms.Ontology currently uses NeoVM to run its smart contracts. Developers can use the languages they are good at, for example, C# and Python, to write smart contracts, without the need to learn a new language, which makes developing smart contracts much easier. However, we have found and collected from our practice some potential security issues when developing smart contracts on Ontology. If we can prevent these issues, then we can help projects and users avoid losses.Chapter 2: Cross-contract Call AttacksIn this article, we will talk about cross-contract call attacks, a type of potential loophole attack that may happen when developing smart contracts on Ontology. Developers may need random numbers when writing smart contracts. Normally, they can use Ontology Oracle to access credible external data sources. In its simplified form, some developers need to get the current block hash as the random number. In this article, we will mainly analyze the potential security issues of smart contract development and solutions when using the current block hash as the random number.2.1 Contracts with LoopholesBelow is a code sample using the current block hash as the random number, we call this Contract A:User Contract AWe can see that Contract A uses getRandomNumber() to obtain the current block hash as the source of the random number and make some tweaks. Users can receive incentives if their guessed numbers match the numbers generated by the contract.2.2 Loophole AttacksAt first glance Contract A seems to be working just fine since the current block hash cannot be predicted by anyone except the node that generates the block. However, attackers can write another smart contract to invoke and attack Contract A. The following shows how Contract B attacks Contract A:Attack Contract BAs can be seen, attackers write another smart contract to invoke Contract A. By using the same random number generation algorithm as Contract A, Contract B is executed in the same block as Contract A. By doing this, Contract B is able to get the random number generated by Contract A and then keeps winning by generating the same random number.Chapter 3: Prevention of Random Number Cross-contract Call AttacksHow do smart contract developers prevent such attacks? We can see that the attack can be prevented by preventing Contract B from calling Contract A. Ontology smart contract developers can use GetCallingScriptHash() and GetEntryScriptHash() to solve this problem. Below is Contract C, which has been modified based on Contract A and can prevent such attacks.User Contract CGetCallingScriptHash() can obtain the contract hash used for calling the current smart contract, and GetEntryScriptHash() can obtain the contract hash of the calling contract entry. When the contract hash used for calling the current contract is not the same as that of the calling contract entry, the caller of the current smart contract is deemed to be another smart contract, instead of the user who is using the wallet address to call the contract. This way, we can prevent the smart contract call attack.Chapter 4: AfterwordThis article listed one type of potential attack Ontology smart contract developers may encounter. This type of attack is hard to discover. Developers who do not have a good understanding of smart contracts may not be able to predict and prevent such attacks. The root cause is that developers use a simplified method of choosing random numbers. In our future tech point articles, we will talk about more types of loophole attacks to help Ontology smart contract developers avoid potential loopholes.Ontology smart contract developers can also use VaaS-ONT, an automatic smart contract formal verification platform integrated into SmartX, the Ontology smart contract IDE, to locate risky code and find out the cause in one click, which can verify common security loopholes, security properties, and function correctness of smart contracts or blockchain applications, thus improving security.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInAn Analysis of Ontology Smart Contract Security and Loopholes — Part 1 was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 22

Ontology Announces Partners...

Ontology has just announced its partnership with Jeemaa.com, a leading smart translation platform in China. Ontology will use its blockchain technology to put the data of translators on Jeemaa.com onto its blockchain, creating a trusted and anti-tamper translator evaluation system. The two sides will work closely in expertise, business model, and marketing by sharing mutual resources.In the traditional translation sector, the traditional translation model is inefficient and costly. Moreover, it lacks project collaboration and information symmetry, resulting in inconsistent quality. These factors show that this model can no longer keep up with the times.Ontology and Jeemaa now offer a trusted solution to these problems by putting translators on-chain. In this new model, translation agencies assign tasks, translators provide their translation expertise, and Jeemaa.com links translation agencies and translators.In the traditional model, repeated evaluation of translators is costly and there is no open and fair translator evaluation system, nor is there any translator records. By putting the data of translators on-chain, the new model puts can solve these pain points and transform the translation sector.According to the partnership, Ontology will use its blockchain technology to create a translator evaluation system for Jeemaa.com, which will upload the data of translators on its platform to ONT ID on the Ontology blockchain. With Ontology’s ONTO and API features, data in the evaluation system will be updated in real time. Users will also be able to access data on the evaluation system through smart contract in a trusted and safe way.About Jeemaa.comLaunched in August 2015, Jeemaa.com is a world’s leading translation platform committed to building a close loop for translation service industry. It offers a service chain system integrating content management, process automation, translator sharing and real-time translating concurrency by applying artificial intelligence and big data technologies.At Jeemaa.com, users are offered with computer-aided translating techniques, billions of bilingual sentence pairs known as corpora, professional MT engines and over 3,000 professional translators to promote working efficiency, reduce costs and enlarge producing capacity. Till now, it has served 70,000 freelancers and over 2,500 translating enterprises and teams.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Announces Partnership with Smart Translation Platform Jeemaa.com was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 22

Ontology Community holds “D...

Digital Economy Solutions 2019 was held on May 19th at A-Lab, a tech space in Amsterdam. The event’s purpose was to showcase diverse blockchain projects and emphasize the opportunity for them to collaborate and innovate.The event was created by members of the Ontology community for those who look to learn more about the latest technology innovations and find new opportunities in the areas of blockchain, gaming, finance, health, AI, privacy, and more.Jun Li, Founder of OntologyJun Li, Founder of Ontology, was at the event to welcome the Dutch community. Li talked about why Ontology’s blockchain infrastructure is ready for all businesses, including the technical advances it has made since its MainNet which surpass those of other projects. In the AMA session, the audience, among other subjects, asked about Ontology’s plans for the five years. Li emphasized that Ontology’s development team will continue to achieve their roadmap goals on time, meanwhile, Ontology will push for enterprise partnerships, which take longer to mature.At the end of his speech, Jun Li announced Ontology’s partnership with Tower Builders, an Ontology independent community developer group. Tower Builders introduced what they have been doing for Ontology, including building the Tower Builders Learning Center, an assortment of tutorials on how to develop applications in the Ontology ecosystem. Tower Builders also hosted an Ontology Tech Workshop, in which they walked through how to use Ontology’s smart contract IDE SmartX with the attendees.Tower Builder’s Ontology workshopAlso attending the event were Ontology partners Cocos-BCX and Contentos, as well as Effect.ai, Ryu Games, NEO Health, Healthmonitor.pro, GUTS Tickets, and more.Cocos-BCX and Effect.aiThank you to everyone who attended the event, including those who travelled from Belgium, Germany, the UK, and other countries just for the event! If you are a Dutch speaker, please join the Ontology Dutch community Telegram group. We are currently holding several online events, all of which you can earn some ONG from. Future events in the Benelux will also be shared in the group. If you are a developer, please join the Ontology Discord, where you can interact with the Ontology developer community, including Tower Builders.Special thanks to Ontology Dutch admins Mark, Melicio, and Patrick for organizing the event and supporting Ontology for over a year now.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Community holds “Digital Economy Solutions” Event in Amsterdam was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 19

Ontology Releases Multichai...

→ Read the full Ontology Multichain design paper on GitHubIntroductionA single blockchain is not able to meet the needs of all business scenarios, that is why blockchains with different architectures and features are being set up for different scenarios. However, these blockchains will not realize their intended value if they cannot interact with other blockchain systems. Therefore there needs to be a sufficient solution for them to work together under a multichain system.Interaction between side-chainsOntology has now released its design for a lightweight and safe multichain system and cross-chain solution. The solution uses the Ontology blockchain as the main chain, and supports both side-chains whose architecture is the same as that of the Ontology main chain and side-chains whose architecture is different from that of the Ontology main chain. It allows for interaction between the main chain and side-chains, and also between side-chains. The main chain manages side-chains using a multichain management contract, and the cross-chain interaction between source chain and target chain is done through a cross-chain management contract. The proof of cross-chain interaction is done through synchronizing key block headers and other state information.Interaction between side-chainsOntology Multichain, Plasma, Cosmos, Polkadot Comparison TableRead the full Ontology Multichain design paper on GitHub here.About the Ontology Research InstituteOntology set up the research institute in order to focus more on the research and development of core blockchain technology and strengthen the ability to explore, reflect on, and apply emerging technologies, as well make contributions to the entire industry. At present, there are more than 10 R&D personnel in the Ontology Research Institute.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Releases Multichain Design to Rival that of Cosmos, Polkadot, and Plasma was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 16

Ontology Hosts Blockchain G...

On May 11th, Ontology hosted “Ontology X Blockchain Game”, an info session for blockchain game developers, at the Seoul Startup Hub Grand Auditorium. Over 130 Korean developers and media attended to hear about Ontology’s blockchain infrastructure, dApp incentive schemes, and upcoming Korean developer events.The event began with a congratulatory message from Hwang Sung-Ik, Chairman of the Korea Mobile Games Association. Hwang spoke on how Ontology is a game-optimized platform and shared plans for a working relationship between the Association and Ontology in the future.The Head of Business Development for Ontology in Beijing next introduced Ontology and its gaming ecosystem. Games generally have a short lifespan, so developers need to continuously work on innovation and upgrades. Ontology empowers games by providing solutions to tokenize game assets and make profitable economic models — attractive considerations for game developers looking to integrate blockchain technology.Heo Sang-Min, CTO, and William Wu, Head of Global Business Development of Muzika, an Ontology-based music platform, introduced their project and development status. Heo Sang-Min shared the reasons why they implemented Ontology blockchain technology into their platform: to ensure transparent settlement between artists and customers, and to create better economic models than traditional Android- and iOS-based apps. He also praised his experience of communication between their development team and the Ontology development team. Chris Kang, CEO of MovieBloc, an Ontology-based movie platform, and MixMarvel, the company behind the hit Ontology game HyperDragons Go!, also spoke at the event.The Q&A followed with the projects further sharing their experience developing on Ontology, as well as candid discussions about the limitations on blockchain in the game industry and its future.For Korean developers, please join the developer community below for future event information. Please also check out the Ontology dApp incentive schemes and Ontology Korean Telegram group (which is currently hosting weekly quizzes!).Ontology Korean developer community:https://www.facebook.com/groups/ONTKorea/Thank you to everyone who came to the event, see you next time Korea!Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Hosts Blockchain Game Developer Event in Seoul was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 14

Ontology’s chain network fo...

The public blockchain landscape is fragmented into different categories based on the features that a project prioritizes. Major high-performance projects like Ontology and EOS have been operating a stable infrastructure for over a year and provide tools for building applications. Across the business agnostic infrastructures, the single most important challenge today is to onboard real-world business and accommodate associated requirements. This is the first article in a series of four focusing on the technology that makes Ontology a public blockchain network with solutions ready for all businesses.1 of 4: Scalability and performance2 of 4: Interoperability and customization3 of 4: Security4 of 4: Distributed storageBefore taking a dive into the concepts, it is essential to understand what Ontology is and why it is ready for all businesses.To put it simply, Ontology is a high-performance chain network developed to accommodate two pain points which withhold businesses from building their business scenarios on a blockchain. First, when replacing legacy infrastructure with blockchain infrastructure, a blockchain must meet similar performance with high throughput and little to no downtime. Second, the infrastructure must be flexible and allow customization so that different businesses can implement their business requirements and work compliantly.Ontology reaches 4,000 TPS (transactions per second) on public MainNet, 12,000 TPS for certain test environments, and has sharding and side-chains for scalability, all with little to no downtime. The architecture is customizable with development components and tools in order to meet different business requirements and allow for interoperability. Along with these features, Ontology has a core technology team of over 100 individuals to maintain the infrastructure and develop industry-specific enterprise-grade solutions. This same team delivers professional services and service-level agreements for businesses.Roadmap towards 2020Ontology has delivered on the promises drawn out in the original roadmap and now operates a stable infrastructure with many tools for developers and businesses. During late 2018 and early 2019, the core tech team has been testing scalability solutions in POC (proof of concept) and on TestNet, along with performance tuning. The scalability solutions include sharding and side-chains, which currently both run on TestNet and will be available on MainNet in early 2020 or earlier if business cases require it.ScalabilityBlockchain network scalability is solutions to improve the speed of transactions, often measured in TPS. Scalability is different from performance tuning because it achieves higher TPS by sharding or side-chains, whereas performance tuning is about optimizing the virtual machine, for example for smart contract execution. Scalability solutions is a critical component for mass adoption of blockchain because businesses can start operating at the same level as with traditional IT. A classic example is traditional payment services vs blockchain networks, for example, Visa can handle tens of thousands of TPS in a centralized system and Ontology can handle 4,000 TPS (without scalability solutions) on a single chain in a decentralized system. With the use of scalability solutions, blockchain networks can handle the same volumes as Visa with all the added benefits of distributed ledger technology.Sharding and side-chains enable horizontal and vertical scaling (multi-layer). Sharding is one multi-layered blockchain, whereas the concept of side-chains is multiple parallel blockchains. Shards can exist parallel in the same layer and act as parent shards for multiple layers of shards below. Side-chains are often referred to as layer 2 solutions and is a result of multiple blockchains, generally of same the protocol, which exists separately but are linked to the root chain (original main chain) with a third cross-chain solution (for example Cosmos).So, when to use shards and when to use side-chains? Overall, it will be determined by the decision as to whether the project wants to be under the governance of the Ontology MainNet (shards) or have its own governance (side-chains). However, there is no simple answer to this. Further considerations include requirements for customization, performance, privacy and control, and network security. Several of these will be addressed in the upcoming articles about interoperability and customization and security.ShardingOntology has its own sharding design and this article will address some conceptual questions for a better understanding of its implementation. For a deep dive into the technology, shard management, and cross-shard interaction, please refer to the Ontology Sharding paper.Sharding is a type of partitioning which exists in the same blockchain network. The Ontology Sharding design adopts a hierarchical design, which means that the first layer of shards under the root chain (Ontology Main Chain) act as parent shard for the ones below, hereinafter referred to as “multi-layer sharding”. Likewise, any given shard that has shard(s) below will act as a parent shard. A shard is a subset of nodes from the root chain which maintains its own ledger through consensus, either dBFT or VBFT. Each node participating in the governance of the root chain + shard(s), must keep the state of each ledger. If a node participates in the governance of shards below a parent shard it must keep the state of that shard + all above parent shards + the root chain.The design allows shards to do a certain level of customization in order to accommodate different business requirements, for example, a shard for financial services might want to configure a different charging structure, use dBFT consensus, and implement Merkle Patricia Tree. However, if there is a need for a different governance and economic model, it might be worth considering a side-chain. This is also where it is necessary to distinguish between shards and side-chains.Business logic is executed in the blockchain network by smart contracts, which essentially are programs written into the ledger. Smart contracts must be deployed in the root chain but can move across shards in the same layer and may be invoked in any shard or the root chain.The creation of a shard happens when an operator (a node from the root chain or a parent shard) initiates the shard along with some configurations written into the management contract of the shard. The operator can invite other nodes to join the shard after initiation. In some scenarios, a business needs to select a shard for smart contract execution. This will naturally raise the question of which shard to choose. There are three criteria for this:PoS: How much ONT is staked in the shard will determine how much the shard will potentially lose for malicious activity. PoS can also be considered as the security mechanism in a shard;Decentralization: How many nodes participate in the governance of the shard;Reputation: How reputable are the teams behind the nodes in the network.Ontology has a dual token model comprising of ONT, which is used in governance, and ONG, which is used for on-chain transactions. Shards can have their own token economy based on a representation of the tokens from the root chain. ONT, ONG, and all OEP-4 standard tokens from the root chain can be represented by a shadow token in a given shard, for example, ONTx and ONGx. The tokens have an equal relationship so that ONT (root chain) and ONTx (shard) are of equal worth, as well as for ONG (root chain) and ONGx (shard). It is also not possible for the shards to issue new tokens which are backed by the native OEP-4 tokens. Participants inside a shard can do commerce with ONTx and ONGx and then, based on the management contract, withdraw the shadow representations back to the root chain in exchange for ONT and ONG. Based on the root chain configurations, the ONGx transaction fees that the nodes receive as rewards will be settled at the end of each consensus round, which is every 120,000 blocks accordingly to current settings in the root chain management contract. If nodes in a shard wish to settle the state more frequently, it can be achieved by configurations in the shard’s management contract. Note that more frequent settlement will incur more fees.Shards can also exchange shadow tokens amongst each other, but only in the same shard layer, which leads to the concept of cross-shard interaction (atomicity). For instance, shard-1 with OEP-4x and ONGx is the buyer and shard-2 with OEP-4y and ONGy is the seller. During the trade:Shard-1 will transfer OEP-4x to shard-2 and pay ONGx in transactions fees;Shard-2 will hold OEP-4x until the next root chain consensus round;3. Shard-2 will receive OEP-4y in exchange for the OEP-4x it holds;4. The events will be logged on the root chain and shard-2 can withdraw the OEPy (previous OEPx) to the OPE-4 on the root chain.Likewise, will shard-2 transfer a representation of the sale to shard-1 and the state will be settled like abovementioned procedure.The advantages of sharding compared to a side-chain is:It increases the security of the network because all nodes are in the same chain;It is easy to initiate and configure a shard;Security and protocol updates are maintained by the Ontology core team.More on the interaction between shards and customization in the next article, which will be on interoperability and customization.Side-chainsIn contrast to a shard, a side-chain is an independent blockchain network which exists outside the Ontology MainNet network — this is also referred to as a layer 2 solution. Side-chains are highly customizable and can, in theory, be of any blockchain protocol with different configurations. However, the current state of blockchain technology only truly allows chains for homogenous protocols with different configurations to interact across each other i.e. only two Ontology protocol chains with different consensus algorithms and gas fee structures can interact with the Ontology cross-chain protocol. Ontology has already during Q1 and Q2 2019 successfully performed POC and TestNet for multi-chain, cross-chain, and side-chain, and will make it available as real business scenarios require it.Side-chains are a powerful tool for scalability because a side-chain is a new blockchain network that delivers its own performance. For example, a side-chain of the Ontology protocol in production with the same configurations as the Ontology MainNet can deliver 4,000 TPS. This results in 2*4,000 TPS in the entire ecosystem (4,000 TPS from the Ontology MainNet and 4,000 TPS from the side-chain). A side-chain can also host shards.The differences between shards and side-chains are:Shards must join and stake for a node on the root chain, whereas a side-chain operates its own root chain;Shards live under the governance of the root chain and do not have to maintain security and update themselves, whereas a side-chain must maintain its own security and network updates;Smart contracts can move across shards in the same network, whereas smart-contracts cannot move across root chains (side-chains).More on interaction between the side-chains (cross-chain protocol) and customization in the next article, which will be about interoperability and customization.PerformancePerformance is a widely used term in the blockchain space, but in general, it refers to the number of transactions that a network can deliver over a given time — TPS. To understand Ontology’s performance we must divide the concept into a few sections:Performance of the current Ontology MainNet;Performance of the open-source framework;Performance of VBFT;Performance with sharding.Performance of the current Ontology MainNetThe Ontology MainNet has been running stable since it went live almost a year ago. The MainNet is the production environment where dApps and businesses can build and deploy their blockchain projects. It is, therefore, the most important benchmark for performance.The MainNet hosts 47 nodes which comprise of 39 candidate nodes and 8 consensus nodes. The consensus, performed with VBFT, delivers 4,000 TPS at peak performance without scalability features. 4,000 TPS accommodates the performance requirements for the current 30 dApps on the network. As the continuous increase in transactions from dApps and users results in a need for higher TPS, the Ontology core team will make scalability features available on MainNet, for example, sharding, side-chains, and parallel execution.Performance of the open-source frameworkThe Ontology source code is open-source and available on GitHub. This makes it 100% transparent and everyone can use it. The open-source approach is to ensure that everyone who uses the network can see what is going on behind the scenes and judge for themselves if they trust the blockchain.The Ontology protocol has been tested several times, both by the community and official institutions. Depending on the test environment, the protocol has delivered performance from 5,000 to 12,000+ TPS.Performance of VBFTThe performance of the VBFT consensus algorithm depends on the number of nodes in the consensus network, which is determined by a given algorithm configuration profile.For example, if there are 900 nodes in the network and configuration profile x is implemented, then VBFT selects 150 nodes for consensus based on verifiable random function (VRF). 150 nodes in a VBFT consensus network equal to performance of approximately 1,000 TPS. Please note that this is for a single network without scalability features.The choice of configuration profile is a security decision that the network governance participants decide. The more nodes to participate in consensus in relation to the total number of nodes in the network, the more secure that network is considered.Performance with shardingSharding is one of the most promising scalability solutions for blockchain networks. The TPS can increase to accommodate even the most transaction-intensive business scenarios with appreciate number of shards in a network. The individual performance of the shards will decrease insignificantly proportional with the number of shards in the network, but the total performance of the network will increase drastically.In the above graph it is illustrated how the individual shard’s average performance decreases proportional with the total number of shards, and the total performance increases, for example, with 50 shards the network performance equals to approximately 100,000 TPS.Conclusion: Centralization vs decentralization and performanceThe choice of consensus algorithm and level of decentralization of the network governance have a great impact on performance. As Founder of Ontology, Jun Li, says, “There is no magic in high-performance, it is a conscious design decision of algorithm and number of consensus nodes”. For example, Bitcoin is considered to have the most widely decentralized governance because hundreds of thousands of miners help produce blocks through PoW (Proof-of-Work) and tens of thousands of full nodes to maintain the ledger. This results in rather low performance of fewer than 10 TPS. In contrast, networks that operate with quick state finality algorithms like VBFT and more centralized governance models can achieve higher performance. In the end, this is a design decision and Ontology is designed to accommodate real businesses that require high performance.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology’s chain network for businesses: Scalability and performance was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 11

Third round of Triones Node...

Ontology uses the Triones consensus system for its chain network. The system provides distributed, high-performance blockchain consensus using the VBFT consensus algorithm and an incentive model. Triones nodes include communities, organizations, and individuals across five continents. They constitute Ontology ecosystem co-builders, together helping develop Ontology’s ecosystem.In addition to receiving ONG from transaction fees, to encourage participation in consensus the top 49 nodes in stake size receive the Ontology Foundation bonus: an additional 10,000,000 ONG per year for the first three years from the community allocation. This means nodes which do not rank in the top 49 by stake size only receive ONG from transaction fees, not the Ontology Foundation bonus.The third round Ontology Triones seed node enlistment conditions are as follows:The minimum node stake is set to 1,000 ONT, however, the network size is currently set to 49 nodes (8 consensus nodes and 41 candidate nodes). This means the minimum stake to be accepted at the moment must be higher than the stake of the node in the last place. To find out this number, in OWallet, go to Node Stake → Stake Authorization → page 5. Currently, only 47 nodes are showing in OWallet, but 2 recent nodes will be added before submissions open.Nodes must meet the software and hardware network environment requirements, please visit this article for full details.Nodes must complete KYC.Applications will be open May 15th, please make submissions here.Can’t make a node application but want to participate in Ontology’s consensus? Check out OWallet’s stake authorization feature and the dApp developer incentive schemes.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInThird round of Triones Node applications will open soon was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 10

May Telegram Q&A Session Su...

On May 9th we held a Q&A session in our Telegram group. Below is a summary of the questions and answers. Keep an eye on Ontology social media for another session next month!TechWhat developments have taken place since MainNet to ensure Ontology stands out among its competitors?For Ontology, it is definitely building an infrastructure which is ready for all businesses. This year we are working on scalability and performance, interoperability and customization, distributed storage, and security. We believe the versatile and high-performance infrastructure is what makes us stand out among competitors.I have seen some projects will use a layer 2 solution, what does it mean? Will they use different chains with different consensus mechanisms that are connected to the main chain?A layer 2 solution for Ontology is side-chains, and you are right about their definition. Side-chains are a powerful tool for scalability because a side-chain is a new blockchain network that delivers its own performance. For example, a side-chain of the Ontology protocol in production with the same configurations as the Ontology MainNet can deliver 4,000 TPS. This results in 2*4,000 TPS in the entire ecosystem (4,000 TPS from the Ontology MainNet and 4,000 TPS from the side-chain).Is there an updated roadmap?You can find the up-to-date roadmap on this page of our website: https://ont.io/aboutus.How is sharding coming along?Sharding development is 55% complete. You can follow our monthly reports for updates.Does the Ontology team check the code of third-party wallets?It is very difficult us for us to check the source of every community developer. We can help answer any questions the community has about products and we recommend products which have been reviewed by a third party over those which have not.Partnerships/dAppsHow are things are progressing with PAX ?PAX will be launched on Ontology this month and a simple swap between the ERC-20 and OEP-4 PAX will be up, so you will be able easily to deposit your PAX to PAX-supporting exchanges and withdraw to PAX-supporting wallets.Binance acquired Trust Wallet last year. Do you plan acquire other blockchains/apps/teams?Recently we have seen a trend of blockchain projects acquiring other projects, and not always necessarily other blockchain projects. For now, Ontology is concentrating on expanding its ecosystem and not necessarily through the means of acquiring.Is there any plan for non-crypto partnerships?We are already working on several “non-crypto” partnerships, such as with Lanxess on chemical supply chain tracking. As the Founder of Ontology said in his recent interview with Cointime, negotiation with tradition companies has taken six months or even longer. It took one year of communication before we launched a simple loyalty point application for Fosun Group. Although the “crypto” partnerships are more visible and greater and number, traditional adoption remains the goal.How does Ontology handle fraud in gaming dApps?For incentivizing active dApps, we are using a gaming incentive curve which helps new dApps ramp up quickly. We believe that when the amount of dApps reaches a certain scale, it is impossible to satisfy the game scene through simple transaction fraud and obtain a stable return. If the dApp has value, the user behavior data and related transactions will grow in a positive way. As the number of dApps increases, the proportion of valuable dApps increases. The corresponding fraud will not be able to get the points for incentives, and the cost of fraud and revenue will be out of balance. On the other hand, the older valuable dApps will have less incentive. That part of the incentive will go to the newer dApps.We foresaw that at the beginning of the incentive program there might be some fraud dApps. This is the shortness of the incentive design that cannot be resolved based on our knowledge base. Still, we believe that there will always be quality dApps involved recognized by community members/end users and the other incentive schemes available will help support quality dApps e.g. the 60% transaction fee rebate.ONT/ONGWill it become easier to redeem unbound ONG for newcomers?When the Ontology MainNet was first launched last year and this situation started to arise (users having no ONG to redeem ONG) we made redeeming ONG temporarily free in ONTO. Since then we have seen ONG become available on more exchanges (including community favorites like Binance, you can find the full list here) as well as community tools such as the ONG faucet. As more newcomers join we will monitor this situation and judge how best to curb it.Will Ontology add an ONT/ONG swap function?We see the community wants this! We do not have our own DEX at the moment, in the meantime, we would be happy to support an exchange/wallet to add this pair.MarketingIs it possible you move Candy Box to ONTO for all future airdrops?Yes, the new Candy Box will replace the old Candy Box in ONTO. We have learned a lot from the swift release of this product to accommodate the TOP and MovieBloc airdrops and will be cautious to make a smoother airdrop process in the future.Has Google started helping Ontology with marketing?Google has made available the avenues for collaborating on marketing activites, we are currently looking at how we can work together in 2019.OtherHow many persons are currently working for Ontology?We currently have 112 people in our company group chat!Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInMay Telegram Q&A Session Summary was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 10

Ontology Triones Node Softw...

Ontology can be deployed and run in an X86 environment and mainstream virtualization environments and supports most mainstream hardware networks.Linux operating system version requirementsServer requirementsOntology supports the deployment of 64-bit general purpose hardware server platforms running on Intel x86–64 architecture. The following requirements and recommendations apply to the node server hardware configuration:Note:Cloud service referral providers: AWS with DdoS protection, Azure (international) with DdoS protection, Google Cloud with load-balance.If you only need to test deployment, it is recommended that you use the Docker Compose deployment solution for standalone testing.Network requirementsAs an open-source high-performance distributed ledger platform, Ontology needs to ensure certain latency to guarantee performance:The ping value to the seed node list does not exceed 300 ms *The node extranet bandwidth >= 50 mbNormal operation requires the network environment to provide the following network port configuration requirements. Administrator can enable relevant ports on the network side and host side according to the deployment of Ontology modules in the actual production environment:Client web browser requirementsOntology provides the explorer.ont.io visual monitoring tool. Users are advised to use latest version of Internet Explorer, Google Chrome, or Mozilla Firefox to access the browser portal.The Ontology Foundation reserves the right of final decision on interpretation.Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Triones Node Software, Hardware, and Network Requirements was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 10

Ontology Founder’s Intervie...

Founder of Ontology, Jun LIRecently, in an exclusive interview with Cointime, Jun LI, Founder of Ontology, shared his insights into public blockchains. Here is a summary of part of the interview.You once said that in the future public blockchains will each have their own strong suits, and there will be 5 to 10 public blockchains taking up the majority of market share. When do you think this will happen?Jun LI: For most people, they can hardly name more than 10 non-token public blockchains. Some of the public blockchains which started early are already the leaders in the industry, including Ethereum, Ontology, EOS, and TRON. These are all community-focused projects and are still at the stage of community growth, but this trend will not last. Most dApps today have a very short life cycle. The internet industry had countless applications at first, but in the end, only a few killer apps dominated the market. The blockchain industry will also follow this path, and in the future people will not care too much about how many dApps these public blockchains have.What people should really care about is finding industries and dApps that can run for years and attract millions of users in the quest for real business applications.As public blockchains, Ethereum and EOS are very much community-focused, which is all very well, but to realize real business applications they need a centralized force, a force not for control, but for promotion. It will be a long-term mechanism because establishing a partnership with enterprises is a long-term process as well. Once the partnership has been built, long-term support is even more important. For example, if something goes wrong with the infrastructure, prompt response within 24 hours is to be expected, which centralized forces can guarantee. At present, there are not many business-focused public blockchains in China, because doing so does not come with eye-catching headlines and is not as popular with communities. But I think this is something we should stick to, and is where Ontology’s unique chance lies in.Most dApps on the top public blockchains today are games, and most of these games are for gambling, what can we do to break this cycle?Jun LI: Ethereum had 4 to 5 thousand dApps, but EOS was able to surpass it in a couple of months, so there is no such thing as established advantages in the industry. The difference between the internet industry and the blockchain industry lies not in people’s ideas, but in the way and ability of communication. There are not many blockchain companies who know how to negotiate with traditional sectors. At present, this is a thankless task. For instance, our negotiation with many traditional companies lasted six months or even longer. It took one year of communication before we launched a simple loyalty point application for Fosun Group. I believe real business applications are going to require our long-term effort, but in the end, it would pay off.You said that at the end of the day, the blockchain industry needs to empower the real economy. If this is a journey of 100 steps, how far have we traveled?Jun LI: I would say five steps at most. If you have been to blockchain meetings a couple of times, you will find that you keep seeing the same people. I think we should try to explore new frontiers of blockchain, instead of competing with each other within the industry. The fact that public blockchains are still at the early stage is itself a blessing since there will be more opportunities for us.Ontology provides integration of public and consortium blockchains. Most consortium blockchains today still have much room for improvement, and like you said, public blockchains are still at the early stage, so what’s the point of talking about the integration of public and consortium blockchains now?Jun LI: Since we have developed both public and consortium blockchains, I feel we certainly have a say on this topic.There is a myth among consortium blockchain and pure tech teams, saying that public blockchains are all about hype, and only consortium blockchains have real technology. I think this is a paradox since consortium blockchains are not open-sourced. I think technological development requires both time and money. Most consortium blockchain companies are not as rich as leading public blockchains. The reasons are simple, public blockchains manage tens of billions of assets and invest hundreds of millions in R&D every year, so it is quite impossible that consortium blockchains, which invest only a couple of millions a year, can overtake public blockchains in technology. Moreover, public blockchains which have reached a certain scale will find it easy to build consortium chains. Therefore, just like traditional IT systems, consortium chains will eventually be integrated into public chains.I have been saying that public blockchains are not seeking to disrupt and replace everything with decentralization but to integrate the data sources of centralized and decentralized systems in a decentralized way.The integration includes traditional IT systems. Say you have a private chain or consortium chain in your ERP system or CRM system, with public blockchains, these chains are able to communicate and verify each other. Therefore, if existing consortium chain groups want to scale up, one way is to turn themselves into public chains, which is not easy. If you want more people to operate and maintain your nodes and build your ecosystem, then you must make it worth their while. You cannot just give people money and ask them to do it. So, for consortium chains, a better way to do it is to integrate with public chains as “systems”, which will make them more trustworthy and allow them to collaborate with other consortium chains. In a nutshell, public blockchains will serve as an important bridge in the future.Technology-wise, there are many companies who want to build consortium blockchains, but for them, the safest way might be to do it on well-developed public blockchain frameworks, such as Ontology. The reasons are twofold: first, these frameworks have been open-sourced long enough; second, they have proved their security and technology are reliable.Could you give us some figures about the number of dApps and their users on Ontology?Jun LI: At the moment, we have 20–30 dApps with more than 200,000 users. The number may not seem large at first glance, but it is because our focus has been on the long-term development and quality of individual dApps, not on the number of dApps. HyperDragons Go! is a case in point. The game was first launched on Ethereum and then introduced to Ontology’s platform. Thanks to our marketing and operational support, today the number of DAUs on Ontology is 10 times that of Ethereum. For public blockchains, what matters most is not the number of gaming dApps, but their long-term development. In Q2 and the second half of this year, we will launch some dApps for traditional industries with millions of users. For example, Fosun’s loyalty point dApp could have even 100 to 200 millions of tokens, but it will take time.User base is very important for public blockchains and dApps, but currently user growth seems to be a big headache, as there are only so many users in the blockchain community. What do you think?Jun LI: Take the loyalty point dApp. In the best case, loyalty points will be allowed to be converted and traded. Now users may not know what Bitcoin is, but if one day they suddenly find out loyalty points can be used to buy game items and converted to Bitcoin, for them it will be a new model of digital trade and investment, which can help convert a large number of potential users in traditional industries and enterprises into actual users. The first step is always the hardest, you need a good dApp to draw users, to begin with. That is why I decided to work with traditional sectors, which is also the best way to push back the frontiers of the blockchain industry.Do you have a growth target for the number of dApps and users on Ontology?Jun LI: I do not have a specific target, because it depends on how each dApp grows. Our initial plan is to launch 50 to 100 high-quality dApps this year. The number of users largely depends on popular dApps, a conservative estimate would be 1 to 2 million, and with the users from traditional industries participating, 5 million or even 10 million would not be impossible. At the end of the day, all will depend on the growth of each dApp. Our main task this year is to go on with our strategy for real businesses.You can find the full interview in Chinese here.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Founder’s Interview with Cointime was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 08

You can now store ONT and O...

ONT and ONG have been added to Huobi Wallet, which itself supports nearly 20 tokens and stablecoins, including PAX, a regulated stablecoin, which we recently announced plans to launch on Ontology.Huobi Wallet joins 19 wallets where you can store your ONT and ONG, including O3, Infinito Wallet, and more.Community favorites O3 and Infinito WalletWallets where you can store ONT and ONG(wallets are listed in alphabetical order)Anypay (iOS/Google Store)Banko Wallet (Android/iOS)BitKeep (Android/iOS)Buntoy (Android)Clay (Android/iOS)Cobo (Android/iOS)Cloudwallet (Android/iOS)Cyano (Chrome) → Official Ontology walletHuobi Wallet (Android/iOS)Hyperpay (Android/iOS)Infinito (Android/iOS)Karathen (Android/iOS)Ledger (hardware wallet)Math (Android/iOS)Onion (Android/iOS)ONTO (Android/iOS) → Official Ontology walletOWallet (Windows/macOS/Linux) → Official Ontology walletO3 (Android/iOS/Windows/macOS)SEA (Android/iOS/Windows/macOS) (Chinese only)Please bookmark this article for an up-to-date list of supported wallets, as well as a list of which exchanges you can trade ONT and ONG on.About ONT and ONGOntology uses a dual token model. ONT is a coin and can be used for staking in consensus, whereas ONG is a utility token used for on-chain services. ONT releases ONG periodically.You can read more about ONG in this article.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInYou can now store ONT and ONG in nearly 20 wallets! was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 07

Seedit is now on Ontology

Seedit live on OntologySesameseed recently announced it is creating a crosschain community and has started to operate a node on the Ontology blockchain. This created an opportunity to expand the utility of the popular cryptocurrency trading bot, Seedit. In association with Rovak, Sesameseed is pleased to announce that Ontology tokens (ONT and ONG) can now be tipped on Telegram using Seedit. The bot will automatically generate an Ontology wallet for new and existing users. Currently, the airdrop and trade functions are only available for TRON tokens.As well, many new TRON tokens have now been whitelisted, and the official list can be viewed here. If you created a token that you would like to see listed, please contact an admin in the Seedit Support channel on Telegram. Subscribe to Sesameseed Announcements channel for further updates.FeesTipping: This expansion of the Sesameseed community will bring in many new members who have never before used a tipping bot. To make that transition easier, Sesameseed has temporarily suspended fees for tipping Tron or Ontology tokens. While Seedit will not be charging a fee, the transfer fees required by the associated blockchain (bandwidth for TRON and ONG for Ontology) still apply.Therefore, you must have at least 0.1 TRX and/or 0.01 ONG balance in your Seedit wallet to tip on both chains, respectively.Airdrop and Trade: This feature is currently only available for Tron tokens — Normal rates apply.A fee of 0.05 TRX per recipient of airdrop, and 0.5 TRX per trade.How to use the Seedit Bot on TelegramOn Telegram, reply to a comment of the person you would like to tip.In that reply type: /tip <amount> <token name> <blockchain>Example: /tip 5 SEED would send 5 SEED tokens on the TRON blockchainExample: /tip 5 SEED ont would send 5 SEED tokens on the Ontology blockchainExample: /tip 3 ONT ont would send 3 ONT tokens on the Ontology blockchainExample: /tip 5 would send 5 TRXExample: /tip 5 SEED would send 5 SEED tokens on the TRON blockchainExample: /tip 5 ONT would not send any tokens as there is no ONT token on whitelist for TRONNote: If no blockchain is specified in the tip, currently Seedit is set to default to TRON.How to use Seedit to tip Ontology tokens on TelegramFor users who may be unfamiliar with Seedit, please visit its website.*Additional features are under development. Please subscribe to the Sesameseed Announcements channel for further updates.To learn more about Sesameseed visit our website. You may also connect with us on Telegram, Twitter, Facebook, Instagram, LinkedIn, YouTube, and Medium.If you enjoyed this post, please hit that clap button. The more you clap, the more people will find it. Thank you.Seedit is now on Ontology was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 06

New US Ecosystem Partner to...

Erick Pinos has joined Ontology as an Ecosystem Development Partner for the USA. For the USA, Erick will: develop the technical community, oversee online and offline activities, conduct research on the local market, develop a long-term strategy for the region, and be the business contact point.Erick Pinos is an MIT graduate with a business degree and concentrations in computer science and entrepreneurship. At MIT, Erick was the President of the MIT Bitcoin Club and co-directed the 2018 MIT Bitcoin Expo. He is currently based in New York City.Erick participated in HackMIT 2017 ConsenSys and won the prize for the best blockchain project. He then became a researcher for the MIT Digital Currency Initiative. His research was on blockchain for decentralized solar energy in Puerto Rico.Later, Erick was the lead researcher at Game Theory Group, doing cryptocurrency and ICO research and also writing for the online magazine The Blockchain Brief. He most recently became President & CEO of BEN — the Blockchain Education Network — a global nonprofit that educates students across the world about blockchain technology.At Consensus 2019, Erick will participate at Construct, discussing “Why do projects choose to build on Ontology?”, “What are Ontology’s token metrics and funding updates?”, “Where is Ontology heading for the future?”, and answering questions from the audience. The speech will take place 11:30am–12:00pm on May 15th at the Americas Hall 2 South Stage. If you would like to attend Consensus 2019, you can register on the official website here.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInNew US Ecosystem Partner to Represent Ontology at Consensus 2019 was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 05

Ontology Partners up with L...

Ontology has announced that it has reached a partnership with Shanghai Qingyue, a leading environmental protection NGO in China. The two sides will focus on “green finance” and work out a trusted solution for environmental information in the area of green finance using Ontology blockchain technology.Green finance refers to any financial investment in exchange for the delivery of positive environmental externalities. Disclosure of environmental information in green finance is a key job as prescribed in a recent document released by seven China government agencies, including the People’s Bank of China and the Ministry of Ecology and Environment.The existing disclosure system of environmental information in China still has much room for improvement, for example, there is no standard format for environmental information disclosure. Moreover, at present, disclosure of environmental information is not compulsory for listed companies and companies who have disclosed their environmental information have mostly given written descriptions with few statistics. Therefore, one of the priorities is to build a trusted and tamper-proof application for information disclosure and review.Using Ontology’s blockchain technology, Shanghai Qingyue can put data of their businesses on the chain, allowing for data collaboration and business innovation. At the same time, data owners are able to authorize business organizations or research institutions to authenticate data ownership. With the help of Ontology’s distributed data exchange protocol, individuals and institutions will have easy access to on-chain data packages for a certain data use fee.Shanghai Qingyue has analyzed and inspected more than 500 companies using big data technology, and has helped dozens of listed companies with their disclosure of environmental information, including information about air, water, radiation, weather, and sources of pollution. Now combined with Ontology’s blockchain technology, its trusted solution for environmental information in green finance will strengthen the connection between all parties and provide the infrastructure for the development of green finance.Ontology will use its technology to help Shanghai Qingyue create a trust collaboration platform for relevant stakeholders, which will help reach more users at home and abroad faster, and provide the infrastructure for the development of green finance. Looking forward, using blockchain technology for its trustworthiness and transparency, the two sides will also help more companies provide reporting on green and sustainable development, and promote the development of green finance.About Shanghai QingyueShanghai Qingyue is a big data operator for environmental protection. It provides environment-related big data support for over 1,500 research institutions and teams up with a dozen of Chinese environmental organizations to offer third-party independent supervision and services in pollutant discharge permit and green finance. Shanghai Qingyue is dedicated to making environmental information and data accessible to all, improving environmental protection with information technology, keeping the public better informed of and supervising environmental quality, and helping the government provide better public services. It is partly funded by Alibaba Foundation and SEE Foundation.For further information, please visit: http://www.epmap.org (中文).Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Partners up with Leading Environmental Protection NGO in China was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 03

Ontology Announces Partners...

Ontology has announced its partnership with TECHFUND, a Japanese technology accelerator. The partnership will strengthen Sino-Japanese collaboration in the blockchain space as well as Ontology technology adoption in Japan.TECHFUND provides technical support for startups that have applied for the ACCEL PROGRAM. Already over 50 teams from around the world have joined the program and received technical and consulting support.In addition to regional market collaboration, the partnership will include:Integration with the Ontology blockchain and providing BaaS services to TECHFUND’s customers;Using ONT ID for KYC/AML use cases;Using the Ontology STO solution for STO issuers.About TECHFUNDTECHFUND’s vision is “be an entrepreneur”. From their launch in October 2014, they have supported startups in terms of technology. They launched the world’s first platform supporting startups through “technology investments” and have executed investment in six companies. They have given advice for 250 teams.In 2018, TECHFUND began to support ICO/STO startups through a new program and began offering “ACCEL Baas (Blockchain as a Service)”.ACCEL website: http://accel-program.ioTECHFUND website: https://techfund.jpFind Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Announces Partnership with Japanese Technology Accelerator was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 05. 02

TOP Withdrawal Information ...

In March, we gave out 50,000,000 TOP to our community members in an airdrop.Withdrawal is now open, however, the TOP available for withdrawal will be released over several days. If your withdraw fails it is likely the TOP available for that day has already been withdrawn by other users or the servers are busy. We therefore recommend withdrawing after May 5th once most TOP has been made available for withdrawal!Please be patient and thank you for taking part. 😀 You can read more about TOP Network at: https://www.topnetwork.org/.How to withdraw?Log in to the new Candy Box (read about the new Candy Box here).Press “Click here to claim your candy” to open “My rewards”.3. Go back to the main page, click “TOP” under “My wallet”.4. Press “Withdraw”, enter your TOP-supported ETH address and your password, then there will be a message showing “Withdrawal successful” or “Withdrawal failed”.If your withdraw fails it is likely the TOP available for that day has already been withdrawn by other users or the servers are busy. We therefore recommend withdrawing after April 5th once most TOP has been made available for withdrawal!5. Go back to the main page, click “Records” to check the transaction hash.My KYC was rejectedFor those who have had their KYC rejected, please pay special attention to the following:Make sure all uploaded images are of the supported formats and file sizes;Please make sure the identity document is entirely included in the image and is not partially obstructed;Please make sure your identity document image is not too dark or light;Please make sure the document number you entered matches your identity document;Please make sure the document type is valid. Expired documents will not be accepted;ID cards and driving licenses are not supported for every county. Please look at this document for the full list of supported documents for each country.If your KYC was rejected, please try once more paying special attention to the above.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInTOP Withdrawal Information Update was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 04. 30

dApp developers, do not mis...

dApp developers, do not miss out! These dApps are sharing the 20,000 USD prize pool each weekThe ranking as of April 28th: https://dapp.ont.io/.In December, we launched the Ontology dApp developer incentive schemes. In January, the OEP-39 proposal submitted by the community was approved and we are now giving extra incentives for developers who apply early (a 60% transaction fee rebate).According to the “Worker Ant Scheme”, if the number of qualified dApps is under 20, the top 5 will share a prize pool of 20,000 USD in ONG each week. If the number of qualified dApps is over 20, the prize pool will be doubled to $50,000 per week!Week 3 of the prize poolONTPlayBall and Fishing Man joined HyperDragons Go!, Blockwar, Pixel Bird, and 2048 Enhanced to share this week’s prize pool.In the first 3 weeks, 7 dApp games made the list. HyperDragons Go!, the no.1 dApp in the ranking for 3 consecutive weeks, has already won $41,491.37 in total!Intros to dApps joining the prize pool in week 3ONT Play BallONT Play Ball is a casual blockchain game. Players can earn ONG by achieving high scores in the game or by opening the treasure chest once a day. They can then use the ONG they have won to buy props so they can reach even higher scores and win bigger prizes.Fishing ManFishing Man is a casual battle game featuring deep-sea fishing. Players win rewards by killing small fry.Pixel BirdPixel Bird is an interactive game created by Parity. Players will direct a flying bird, who moves continuously to the right, between sets of Mario-like pipes. If the player touches the pipes, they lose. The bird briefly flaps upward each time that the player taps the screen; if the screen is not tapped, it falls.BlockwarIn Blockwar, the player is a block and gets stronger by devouring other blocks. Each round has 24 hours. After each round, the block at the top of the ranking will receive half of the rewards and other players will share the other half of the prize pool based on their rankings (given that your block has not been devoured yet). You will have a chance to play the game for free every 24 hours, or pay 0.1 ONG and play it anytime you want.2048 Enhanced2048 Enhanced is a simple yet addictive puzzle game. The rules are simple, the player swipes to move all tiles. When two tiles with the same number touch, they merge into one. The game’s objective is to slide numbered tiles on a grid to combine them to create a tile with the number 2048, hence the name.You can find all Ontology dApps at https://dapp.ont.io/.Want to be part of the weekly prize pool?A summary of Ontology’s dApp incentive schemes is below:Early Bird Scheme50% dApp transaction fee rebate (60% for the first three months)Worker Ant SchemeRewards for the most active dApps (a share of a 20,000 USD prize pool)Angel Investment SchemeLoans for dAppsDeveloper Support SchemeTechnical and marketing support for dAppsPlease visit this page for full details of each of the incentive schemes and how to apply!Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedIndApp developers, do not miss out! These dApps are sharing the 20,000 USD pool each week was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 04. 28

Join the Ontology Telegram:...

Join the Ontology English Telegram group here.To thank our existing Telegram community and welcome new members to join, we are offering members of the Ontology English Telegram group up to 10,000 USD in ONG each month — 100 USD in ONG for 100 people — if the group reaches certain sizes.We are also planning to run regular AMAs in the Ontology English Telegram group to interact more with the community. Please check back soon on the Ontology Medium for further information!🗓 Giveaway scheduleIf group reaches 30,000 members: 100 winners announced May 10thIf group reaches 40,000 members: 100 winners announced June 10thIf group reaches 50,000 members: 100 winners announced July 10thPlease invite your friends and community members to the Ontology English Telegram group to make sure the targets are met! 😀📄 Giveaway termsYou must have sent at least one message in the Ontology English Telegram group in the previous 28 days of each giveaway to be eligible for that giveaway.If the target for a month is not met, the schedule will be pushed back a month. For example: If there are only 29,000 members in the group by May 10th, the 30,000 member giveaway will be moved to June 10th, the 40,000 member giveaway will be moved to July 10th, and the 50,000 member giveaway will be moved to August 10th.If the target is met, please check the Ontology Telegram Announcements channel for the list of winners on the giveaway day.If you have won, please send your ONT address within 72 hours of the list of winners being published to the user @OntologyMarketing on Telegram. That user will let you know once your ONG has been sent. Please be patient and refrain from asking the admins the status of your giveaway, they will not be able to answer this question!⏳Haven’t joined yet?Join the group now at: https://t.me/OntologyNetwork. 👈Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInJoin the Ontology Telegram: Up to $10,000 in ONG for members each month! was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 04. 28

Ontology to Launch Regulate...

Ontology has announced its plans to launch Paxos Standard (PAX), a regulated USD stablecoin, on the Ontology blockchain. With this news, Ontology will work to explore application scenarios on Defi (Decentralized Finance, another Ontology partner project) beyond exchanges and are expected to launch the PAX token on Ontology in May.Based on Ontology’s OEP-4 token standard, the token (Paxos Standard) will continue to use PAX as its ticker. PAX will enable atomic swaps between the Ontology-based main blockchain and blockchain network and make it easier for individuals and institutional partners to do business pegged to fiat in the Ontology ecosystem.PAX was launched on September 10th, 2018, with the approval of the New York State Department of Financial Services (NYDFS), unlike Tether and other stablecoins that are registered Money Services Businesses (MSB). It is the first regulated USD stablecoin that ensures open auditing, asset safety, and is supported by a large number of exchanges, making it a stable “digital dollar” in every sense of the term, unlike Tether, which cannot guarantee its token is always worth $1. All the deposits in USD are kept in independent accounts of FDIC insured banks registered in the US to ensure the safety of PAX tokens. Monthly audits of PAX are done by top US audit firms to ensure the amount of USD in the accounts is consistent with the PAX in circulation.Since the release of the Ontology MainNet in June 2018, much progress has been made in scaling up and realizing business applications. Ontology also boasts rapid product iteration, community growth, and offers a customized and intuitive development platform for blockchain developers.Rich Teo, Co-Founder and CEO of Asia for Paxos, said:“We are pleased to announce that the Ontology Foundation has chosen PAX as the stablecoin to launch on their chain, and we believe PAX can offer more business application scenarios for Ontology. This news shows how PAX can continue to meet the ever-changing needs of digital asset communities and Paxos’ dedication to advancing innovation in virtual currencies”.Andy Ji, Co-Founder of Ontology, said:“The launch of PAX on the Ontology blockchain will greatly accelerate real business applications on Ontology, create more success stories of traditional businesses shifting to distributed businesses, and provide enterprise partners and institutional investors with a regulated, reliable, and safe gateway to the world of digital assets”.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology to Launch Regulated USD Stablecoin PAX on Ontology was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 04. 27

Blocks.tech, BlockData, and...

Blocks.tech, BlockData, and Bitwires, three leading China-based blockchain media companies, have joined Ontology as new nodes.Blocks.techBlocks.tech is an emerging fintech startup providing blockchain-related information and data services. Blocks.tech runs Winkrypto, Block123.com, ChainNews, and more.Embracing its unique approach of cooperation with peers around the world, Blocks.tech dedicates to growing into a world-leading blockchain data and information provider. At Blocks.tech, they work to serve industrial players in the blockchain and fintech space.BlockDataBlockData is a leading brand in blockchain research and professional services, and is a global blockchain data and analysis service provider.At present, BlockData has set up strategic cooperative relations with dozens of top institutions in the industry, such as People’s Venture Capital, Institute of Internet Industry — Tsinghua University, CCID Blockchain Research Institute, CAPC Blockchain Technology and Application Commission, and has jointly carried out research on frontier topics.BitwiresBitwires is currently China’s largest blockchain media platform in terms of user traffic. With over 1,000 projects and 700 media partners signed on to their platform, Bitwires has reached two million downloads and its API cooperates with 50 high-traffic apps, covering over seven million users.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInBlocks.tech, BlockData, and Bitwires join Ontology as new nodes was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 04. 19

1,300,000 ATLS up for graps...

Earlier this week Atlas, an Ontology ecosystem project, announced its upcoming IEO on Coinsuper, in which 10% of ATLS will be open for an ONT subscription session on April 22nd.Today, to celebrate, we are announcing a 1,300,000 ATLS airdrop for ONT holders!About AtlasAtlas Protocol is a decentralized, tokenized travel platform that distributes the economical benefits out of the hands of mega corporations and gives it back into to consumers, content creators, and suppliers.The platform will fairly compensate content creators, and remove the commission burden and inefficiency that is plaguing the current travel ecosystem. This allows travel businesses to retain profits they can re-invest in products, services, and innovations. An open and transparent platform is empowering all stakeholders in the industry.Atlas is established by the founding team behind Zanadu, a luxury travel platform backed by Tencent, Matrix, and Prometheus capital with over two million active users. Atlas’s private round leading investors include OGC, NGC, and Ledger Capital, and has partners with South Korea’s giant internet company Kakao’s blockchain subsidiary GroundX. Atlas will leverage all of Zanadu’s existing user base, as well as its partnerships with 20+ major hospitality service providers including Peninsula Hotels, Shangri-La, Cathay Pacific, Singapore Airlines, and Finnair. The firm also has strategic partnerships targeting retail clientele with WeChat, Jinri Toutiao, iQiyi, Youku, Netease, and Weibo.Airdrop guideFor this airdrop you will need to submit an ERC-20 address before the deadline and you will receive an ATLS amount in proportion to the amount of ONT you hold in your wallet, including any staked ONT (you do not need to cancel your stake for it to be included). Your ONT amount will be recorded at the snapshot time.Submissions open: 10:00 April 17th — 10:00 April 23rd (UTC) (submissions before and after will not be accepted)ONT snapshot time: 04:00 April 24th (UTC)How to submit?You can submit your ONT and ERC-20 addresses in the “Get ATLS airdrop” dApp in:Android: Math Wallet (version 2.1.1)iOS (Enterprise): Math Wallet (version 2.1.1)Chrome: Cyano plugin wallet (go to https://airdrop.ont.io/ in Chrome to access the dApp)Each time you submit an ERC-20 address there will be a 0.01 ONG transaction fee. Please make sure you provide a correct and non-exchange ERC-20 address, otherwise you will not be able to receive your rewards.You just need to submit one ERC-20 address for each ONT address. However, if you submit a second ERC-20 address for the same ONT address, the last ERC-20 address submitted will be used.You will receive ATLS according to: (the ONT amount in the address you submitted below) ÷ (the total ONT amount of all submissions) x the total ATLS amountATLS distribution time: After June 15th, you can check your ERC-20 address to check whether the distribution has occured yet.Cyano walkthrough1. Open https://airdrop.ont.io/ in Chrome with your ONT wallet imported into Cyano. Your ONT address will automatically fill in. If it does not, please double check you have your ONT wallet imported.2. Paste your ETH address and click “Submit”. Next you will have to pay 0.01 ONG for the transaction fee. Confirm on Cyano, the default 500 for Gas price and 20,000 for Gas limit means the smallest amount (0.01 ONG) for the transaction fee.3. You’re done! You will receive a “Submitted successfully” notice. You can click “Search” to see the ETH address you have submitted for your ONT address.Airdrop example1. Alice submits ERC-20 address A at 10:00 on April 17th (UTC). At that time she has 5,000 ONT in her address and is staking an additional 1,000 ONT.2. Alice decides to change her ERC-20 address and submits ERC-20 address B at 05:00 on April 18th (UTC), at that time she has 5,500 ONT in her address and is staking an additional 1,000 ONT.3. When the snapshot occurs at 04:00 on April 24th (UTC), Alice has 6,000 ONT in her address and is staking an additional 1,500 ONT.4. The total ONT amount in Alice’s address at the snapshot is N. Alice will receive (6,000 + 1,5000) ÷ (N x ATLS) to ERC-20 address BQuestions?Please ask in the Atlas Telegram group.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedIn1,300,000 ATLS up for graps for ONT holders! was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 04. 17

The Ontology Developer Comm...

Since late 2017, Ontology has reached several major milestones in its roadmap. From MainNet launch in June 2018 to the sharding design release in December 2018, we are steadily on our way to becoming the top global trust collaboration platform.To reaffirm our commitment to the continuous improvement of our MainNet performance, to share our toolkits for the building of Ontology dApps, and to encourage more developers to join the Ontology community, we are announcing the Ontology Developer Community Rewards Program to encourage all interested developers and others to join Ontology community.We invite all community members to earn ONG by completing tasks related to understanding Ontology and growing our developer community! The bounty program will run for 2 months from 14:00 April 15th to 14:00 June 15th (UTC). There is up to 20,000 ONG available throughout the program!How do I join the Ontology Community Rewards Program?All participants need to download the ONTO app and create their own wallet address for the bounty on ONTO first. Sign up on Gleam using your email along with your ONTO wallet address and complete the bounty actions as listed on the bounty page. We will only distribute reward tokens to ONTO wallet addresses.ONTO appiOS download link: https://itunes.apple.com/cn/app/onto-an-ontology-dapp/id1436009823?mt=8Android download link: https://play.google.com/store/apps/details?id=com.github.ontio.ontoHere is the link to the bounty page:https://gleam.io/2cbXn/ont-sdc-bounty-programHere are the detailed rules and info about the Ontology Developer Community Rewards Program:https://drive.google.com/open?id=195BXcSoTdCqpt6CjH3_61PI_Ps8nty0hxM6vl_-siuIAnyone from the experienced developer to the aspiring student can earn ONG. Follow our social media channels and complete interesting tasks, take our sharding quiz, watch our dApp tutorials, complete our weekly security challenge case study, and so on. Earn even more when you refer your friends to our developer community. If these tasks are too easy for you, we have technical tasks ready to challenge you and let you earn up to thousands of ONG. Whether you are skilled at building SDKs or mastering hardware acceleration, we have the right challenge waiting for you.Each week during the bounty program, we will select one top-rated original blog and one top-rated original video about Ontology from all the submissions. The contributors will be rewarded with bonus ONG. Every day, we will also select one top-rated question from the Discord #development channel and the winner will receive a fitting amount of ONG.We welcome you to our developer community and look forward to growing together!Where can I ask questions about the Ontology Developer Community Rewards Program?Please ask all questions related to the Ontology Developer Community Rewards Program in the #community-rewards-program of the Ontology Discord.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInThe Ontology Developer Community Rewards Program is now live was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 04. 15

Ontology Proposes Customize...

On March 28th, 2019, the IEEE P2796 Internet of Food (IoF) working groups kick-off meeting was held in Qingdao, China. Ontology was invited to discuss the formulation of IoF IEEE standards. Also in attendance were representatives from the IEEE Standard Association, Haier Group, Senses Global, China Agricultural University, Ocean University of China, and Jiangnan University.In his speech, Ning Hu, _ at Ontology, introduced Ontology’s framework tailored to the IoF.The IoF connects smart farming, smart food processing and storage, smart agrilogistics, and smart kitchen. An ID system using distributed ledger technology (DLT) for IoF scenarios ensures trust traceability of data. Ontology’s ID and DDXF solutions can realize cross-system data processing and data ownership transmission, thus offering a solution for food processing, logistics, and IoF storage.Hybrid storage in DLT for IoF scenarios has four advantages: balancing the cost of on-chain and off-chain storage; enabling end users to manage their own data; using cryptography to ensure data privacy and data use on demand; and using data on behalf of data owners. Free flow of data will be available across the whole supply chain from IoT to end users. As a result, different parties along the supply chain will be able to work more closely and efficiently.IEEE-SA is the world’s largest technical professional association dedicated to advancing technology for the benefit of humanity. IEEE Standards span a broad spectrum of areas, including information technology, telecommunications, power, and energy. Currently, IEEE-SA’s strategic partners include many international standards organizations, such as IEC, ISO, and ITC. IEEE has more than 420,000 members in over 160 countries, 20,000 standard developers, 46 technical associations and councils, and sponsors more than 1,900 conferences each year.IEEE-SA is becoming increasingly essential to industry standards of emerging technologies. IEEE-SA has so far developed over 900 industry standards, including the IEEE 1394 standards and the IEEE 802 LAN/MAN group of standards, with the widely used computer networking standards for both wired (ethernet, aka IEEE 802.3) and wireless (IEEE 802.11 and IEEE 802.16) networks. Some 400 standards are currently in development.Ontology has previously attended the 2018 IEEE-NIST Global Blockchain Summit and engaged in adiscussion on industry standard development. On June 26th, 2018, Ontology became the world’s first public blockchain project to join the IEEE. Now Ontology now brings its technology to the food tracking industry and will help develop the world’s first IoF IEEE standards.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Proposes Customized Decentralized Identity System for IoF IEEE Standards was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 04. 12

Ontology and Beosin Launch ...

VaaS-ONT product page→ Upvote and comment on Reddit, 8 people will be picked to each win 50 ONG!In the field of blockchain technology, the security of smart contracts is of utmost importance. That is why Ontology and its strategic partner Beosin (LianAn Technology), a Chengdu-based tech company focused on blockchain security, have launched VaaS-ONT, the world’s first customized formal verification platform.Last July, Beosin joined Ontology’s “Co-Builder Plan” and worked with Ontology to focus on smart contract development, security auditing, and formal verification, in a bid to strengthen the security of smart contracts and blockchain platforms, creating safe, secure, and reliable blockchain infrastructure. VaaS-ONT is the world’s first formal verification platform customized for public blockchain, and has been deeply integrated into SmartX, Ontology’s smart contract integrated development environment.Beosin’s formal verification technology has been applied to the civil aviation and defense industry for many years, which allows VaaS-ONT to provide a “military-grade” formal verification service. Compared to the traditional method of manually auditing smart contracts, the VaaS-ONT formal verification tool is able to precisely locate vulnerable code, quickly find out the causes, and verify common security vulnerabilities, security properties, and functional correctness of smart contracts or blockchain applications, thus strengthening security significantly. At the same time, VaaS-ONT platform will customize smart contract applications according to the requirements of Ontology’s users and provide security design for the contracts.VaaS-ONT formal verification toolProduct link: https://smartx.ont.io/User manual: https://github.com/ontio/ontology-python-compiler/tree/master/vaasUser cases: https://github.com/ontio/ontology-python-compiler/tree/master/vaas/exampleOperation Steps1. Log in to SmartXGo to https://smartx.ont.io/ in Chrome, click the logo below to log in with your GitHub account.2. Create projectAfter you have logged in, click “Create Project” to create a project. Currently formal verification only supports smart contracts written in Python.Select programming language.3. Write smart contractNow you can use the built-in contract template to quickly create and edit contracts.4. Compile smart contractAfter writing the contract, select compiler version 2.0 (currently formal verification only supports version 2.0), click “Compile” to compile a contract.5. Formal verification for smart contractSwitch to the “Verify” tab after compiling, click “Formal verification” to start formal verification, and the result will be shown on the right.About Formal VerificationIntroductionIn computer science, specifically software engineering and hardware engineering, formal methods are a particular kind of mathematically-based technique for the specification, development, and verification of software and hardware systems. The use of formal methods for software and hardware design is motivated by the expectation that, as in other engineering disciplines, performing appropriate mathematical analysis can contribute to the reliability and robustness of a design.In the field of smart contracts, formal verification uses mathematical and logical language to precisely define smart contracts, their operating environment, correctness, and security, and seek to verify the correctness and security of smart contracts through mathematical proof and logical reasoning. Compared to conventional test methods, formal methods are able to define the required correctness and security more precisely, and ensure higher coverage. In normal development processes, formal verification methods are combined with other methods to ensure blockchain security.Main functions of formal verification toolsStatic detection: The compiler has checked most of the basic detection items and is able to do more.Dynamic detection: The most valuable part of formal verification tools. Dynamic detection items include Div-zero-occurred, Index-out-of-range, Assert-fail, Require-fail, Integer-overflow-occurred, Integer-underflow-occurred, and Data-injection-attack.For more details, please refer to the Ontology Formal Verification Tool Detection Function List.Ontology Formal Verification Tool Detection Function ListAre you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology and Beosin Launch First Customized Formal Verification Platform was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 04. 11

Upcoming Airdrops from the ...

🍬 Airdrop 1 — Join the MovieBloc official Telegram groupDuration: 00:00 April 1st — 23:59 April 5th (UTC)According to the number of members in the MovieBloc Telegram group at 23:59 April 5th (UTC), group members can receive the following airdrops:If the number of members is less than 10,000, each person can receive 3,000 MBL.If the number of members is between 10,000 and 20,000, each person can receive 4,000 MBL.If the number of members is between 20,000 and 25,000, each person can receive 5,000 MBL.Once the number of members hit 25,000 or the deadline approaches, airdrop 1 ends.How to get this airdrop:Join the MovieBloc Telegram group.Check the pinned message on the top of Moviebloc Telegram group.Click the Candy Box registration link, register and copy your ID.Go back to your Telegram group, enter “/address” and paste your ID.You will receive an automatic message from the bot to confirm your successful participation.*If you do not receive the automatic confirmation, please contact our admin. We will announce a list of successful participations on 11:00 (UTC time) from April 2nd.🍬 Airdrop 2: Register for the Candy Box and earn rewardsDuration: 00.00 April 5th to 23.59 April 15th (UTC)During April 5th-15th, all Korean users (users who have Korean mobile phone numbers) who register to Ontology Candy Box can get 1,000 MBL and 7 ONG.*Members who earned MBL in airdrop 1 cannot participate on airdrop 2.🍬 Airdrop 3: First come first serve airdrops in Candy Box (x2)Times: 11:00 April 9th and 11.00 April 12th (UTC)500 MBL will be up for grabs for 8,000 people (4,000 people each time), first come first serve! Go to Candy Box here (note you will need to create a new ONT ID).Why is the KYC taking so long?You only need to complete KYC to withdraw your MBL and invite friends to Candy Box. We have noticed the delays and are working to resolve it with our trust anchors as soon as possible. We recommend using a passport photo to complete verification. If you get rejected, please try a second time with a clearer photo. If you persistently get rejected, please let us know at contact@ont.io.✨ Please noteAll MBL and ONG rewards will be distributed after May 31st. You will need to complete KYC to receive your MBL. Please come back to this article at a later date for further instructions.Please follow our social media channel listed below for more future events.💭 Questions?Ask the community in the MovieBloc Telegram!Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInUpcoming Airdrops from the Most Exciting Project in Asia, Powered by Ontology was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 04. 01

Event recap: Ontology’s Sai...

On Thursday, March 28th, Ontology held an event in Saigon, Vietnam, titled “Distributed Technology — Build The Future”.The event was a hit, receiving just over 100 attendees, an exceptional number for a public blockchain project event in Saigon.During the event, a partnership was signed between BitcoinVN and Ontology. ONT and ONG are now trading on Bitcoin Vietnam Cloud with Vietnamese dong trading pairs.Mathias Glintborg, Senior Advisor at Ontology, was at the event representing Ontology. He gave a presentation to the Vietnamese community, discussing Ontology’s infrastructure, ecosystem, and global communities. Mathias also invited developers to get their hands dirty with Ontology technology, reach out to the tech community on Discord, and take advantage of Ontology’s dApp incentive models, which include a 60% dApp transaction fee rebate for developers.Ontology partners Bibox and DAD also gave presentations at the eventTwo online mini-games with prize giveaways were heldA panel on the subject “The direction of investment in 2019” was also held. Panelists came from blockchain projects, exchanges, and VCs, and highlighted changing sentiments in the industry due to market changes, the recent popularity of IEOs, and their optimisms for 2019.Lê Thanh, a Vietnamese blockchain KOL, also gave a speech, discussing the best platforms for dApps and the blockchain industry in Vietnam.Thank you to everyone in Vietnam who came to the event or watched the live stream!Do you speak Vietnamese? If so, please join our Vietnamese Telegram community. We hope to be back in beautiful Vietnam soon!Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInEvent recap: Ontology’s Saigon Meetup was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 03. 29

The new Dragon Arena is now...

During this update, the team brings new gameplay, new content, and of course more ONG to you!The official power-up prize poolThe official team will inject 2000 ONG bonus into the first round of the Dragon Arena prize pool. Can you defeat your opponents and take the prize?More gameplayOn March 29th, Pre-register in advance for next week’s contest after the game is updated, and fighting with the trainers from all over the world!Each match will have a special theme, and the competition will be very intense. Are you ready, Dear Dragon Trainer? Who will win the championship?Four new dragon skins to battle!Powerful but cute majestic dragon skins added! Who would rule the skies and the arena battlefields?Immediately find the latest system female dragon in the dragon market, four new wings are generated! Come and acquire these unique appearance genes!The dragon lucky draw opens again! The mysterious dragon is about to enter the Dragon Lucky Draw, and here you might win dragon with a powerful skill set and rare appearance.The Official Statement: the vast majority of official revenue is injected back to the Explore and Dragon Arena prize pool to reward players.Rich rewards, wonderful blockchain battles on Ontology HyperDragons Go!Join now: https://hyd-go.alfakingdom.com/The new Dragon Arena is now live! Dear dragon trainers, team up, gather your dragons to the battle! was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 03. 29

What is the new Candy Box?

You may have noticed in the recent TOP airdrops we are using a new web-based Candy Box (https://candy.ont.io/), which is not in your ONTO wallet.Why is there a new Candy Box?With the new Candy Box, we are giving you more options and respecting the option of wanting a third party custodian to backup your private key. However, we will continue to offer you to manage your own private key to master your data or assets in ONTO and Cyano. ONTO requires users to store their own ONT ID private key, which cannot be recovered if lost and is inconvenient for some users to store.The new Candy Box is tied to a mobile phone number which you can use to log in. You will also be able to access Candy Box via a desktop (you could not do this with the old Candy Box). The new Candy Box transmits over HTTPS channel and uses end-to-end data encryption.Can I use the Candy Box in ONTO now?Currently no. A later version of ONTO will support the new version of Candy Box. Existing ONT IDs will still be able to be used, but only new ONT IDs will be bound to a mobile phone number (email will also be supported in later versions). This will allow you to recover your ONT ID private key if you lose it.Do I need to complete KYC in the new Candy Box?You only need to complete KYC to withdraw tokens or invite friends to Candy Box. If you want to use your existing KYC in ONTO you can wait until a later version of Candy Box.Why is the KYC taking so long?You only need to complete KYC to withdraw your TOP and invite friends to Candy Box. We have noticed the delays and are working to resolve it with our trust anchors as soon as possible. We recommend using a passport photo to complete verification. If you get rejected, please try a second time with a clearer photo. If you persistently get rejected, please let us know at contact@ont.io.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInWhat is the new Candy Box? was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 03. 26

MovieBloc and the traffic i...

Earlier this month we announced our partnership with MovieBloc, a new participant-centric film distribution platform. MovieBloc seeks to reform the film industry with blockchain technology and create a system for all film distribution participants, instead of a simple content platform for content providers and consumers. The problems MovieBloc sees in the current film industry and will address are:Industry oligopolyLimited funding opportunitiesUneven revenue distributionNon-transparent revenueLimitations on film distributionSupporting creatorsGuaranteeing the profits of creatorsLack of transparent revenue and dataGlobal reachSome may see MovieBloc’s attempt to overturn the film industry as a tall order, but backed by Pandora TV and KMPlayer, MovieBloc’s drivers have the credentials of building the foundations of new industries.KMPlayer and Pandora TVKMPlayer has 812 million total downloads, 500 million monthly playbacks, and 20 million monthly active users across more than 150 countries.KMPlayer is now owned by Pandora TV. Founded in October 2004, Pandora TV was the first video sharing website in the world to attach advertisement to user-submitted video clips and to provide unlimited storage space for users to upload. It remains a top video sharing website, remaining the number one platform for digital videos in South Korea.With their popularity, the drivers of MovieBloc believe KMPlayer and Pandora TV can garner huge traffic from their existing user base. Those who use KMPlayer will notice MovieBloc’s logo when they open the next version of their player. We are excited for MovieBloc’s beta service launch in Q3 and the project’s IEO in Q2.A closer look at MovieBlocMovieBloc’s ecosystemThe participants in the MovieBloc ecosystemThe participants in the MovieBloc ecosystem include:Creators: Individuals or groups with content distribution rights, such as content providers and directors. Creators receive their share of the revenue automatically from MovieBloc smart contracts.Curators: People who advertise and curate films. Curators can hire translators or designers to market films and make a profit.Translators: Translators can be hired by curators or make subtitles voluntarily and receive donations from creators or viewers.Users: Users can be rewarded by reporting illegal content and writing film reviews.Foundations: Supporters of the MovieBloc ecosystem aim to provide an optimal environment for users. Foundations will also plan and execute offline marketing events.MovieBloc’s architectureThe three main layers of MovieBloc’s architectureMovieBloc consists of three layers: the decentralized core, the service layer, and the application layer. Most of MovieBloc’s content is stored on cloud servers and databases. Blockchains are mostly used for storing hash indexes of transactions and data.MovieBloc’s data frameworkMovieBloc’s teamMovieBloc’s core team membersCJ E&M is South Korea’s biggest entertainment and mass media company. Its businesses encompass film, TV, performances, music, media, and games. Chris Kang, MovieBloc’s CEO, and Jeffrey Jin, its COO, have both worked for CJ E&M and Pandora TV before. Peter Kim, its CSO, is the Founder of Pandora TV.PartnersConsultantsMovieBloc’s consultants come mainly from within the film industryToken economyMovieBloc’s token ticker is MBL. There will be a total of 30 billion MBL which will become an Ontology token standard at MainNet. MBL is a utility token that will appreciate as the number of users increase. An IEO is planned, further details will be announced at a later date.The token distribution leaves 10% of the initial supply to the Ontology Foundation, which will be reserved for community events and other initiatives like we have seen with the current TOP Network airdrops.MovieBloc’s token allocationStay up to date with MovieBlocTwitter / Telegram / Facebook / LinkedInFind Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInMovieBloc and the traffic it will bring was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 03. 26

What’s to come for TOP Netw...

In September last year, we announced our incubation of TOP Network, a full-stack decentralized cloud communication services platform. Last week Huobi Global announced TOP Network will be the first project to have an IEO on Huobi on March 26th. An Initial Exchange Offering (IEO) is a token sale held on an exchange, which we have seen grow in popularity recently.What’s to comeTOP Network offers a suite of cloud communication services, such as messaging, calling, live streaming, and more, on a public distributed ledger. Developers can utilize these services to implement communication functions in their apps while tapping into blockchain user data privacy.Upon TOP Network’s public blockchain release in Q2 2019, Dingtone, CoverMe, and SkyVPN, along with their existing user bases exceeding 50 million, plan to migrate to the new platform. These apps will get rid of their centralized communication layer and start to operate on TOP Network’s decentralized cloud communication network, a shift that will make them the first pack of dApps using the TOP Network.The TOP token, the native utility token on the TOP Network blockchain, will replace fiat currencies and reward points as the tool of in-app payment and incentive plan. TOP will also use Ontology’s ONT ID account system to offer ONT and ONG payments within its system.TOP airdrop for the Ontology communityTo celebrate TOP Network’s IEO and upcoming MainNet, Ontology is currently airdropping 50,000,000 TOP to the community through a series of airdrops! You will have chances to grab some candy up until April 30th, 2019.To read more about the airdrops please check out this article.Stay up to date with TOP Network:Twitter / Telegram / Facebook / LinkedIn / Reddit / MediumAlso, be sure to follow Ontology on the social media channels below for the latest Ontology news and community activities.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInWhat’s to come for TOP Network, an Ontology incubated project was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 03. 25

50,000,000 TOP up for Grabs...

50,000,000 TOP up for Grabs — Huge Airdrop for the Ontology Community!To celebrate TOP, the native token of TOP Network, an Ontology incubated project, being the the first token to be listed through Huobi Prime, Ontology is giving away 50,000,000 TOP to the Ontology community!Huobi’s selective new coin launch platform is scheduled to launch March 26th: read more.🍬 Airdrop 1 — Follow and retweet Ontology on TwitterMarch 23rd to 26thFollow Ontology on Twitter and retweet and like the pinned tweet. Each day 10 lucky participants will each be chosen to win 120,000 TOP. The winners will be announced on Twitter.🍬 Airdrop 2 — Redeem TOP in Candy Box1st round: March 25th-26thDownload ONTO and make an account. In ONTO’s Candy Box every day at 12:00 (UTC) you will have the chance to win 1,000 TOP, first come first serve!This airdrop will not be available until March 25th.2nd round: March 27th-April 30thWant more TOP? You’ll still have chances to redeem some TOP. Invite a friend via Candy Box, once they complete their KYC you will win 200 TOP.This airdrop will not be available until March 27th.✨ Please noteAll TOP will be distributed after April 30th. You will need to complete KYC in ONTO to receive your TOP. Please come back to this article at a later date for further instructions.💭 Questions?Ask the community in the Ontology Telegram!Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedIn50,000,000 TOP up for Grabs — Huge Airdrop for the Ontology Community was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 03. 22

Adjusted HyperDragons Go Ba...

The Battle for Glory between DragonsTired of the same old unchanging skill order of the opponents? Are you tired of being defeated, again and again, fire demons taking advantages from the chest? Dragon Masters, let us start training your dragons and get ready for the Dragon Arena! Take a chance to fight for glory, choose your dragon, configure your skills. Come to the new HyperDragons Go! Dragon Arena and compete with players from all over the world.With this diversified event, each dragon will find its own position among the winners!Each battle has a unique theme that will bring unexpected outcomes from assigned skill, your respected opponent might not be always invincible.Different battle requires specific gender and characteristics, and there will be special sessions for the only generation 0 dragons to sign up. Every dragon will find its own battlefield that is suitable.Ordinary game: Win rich rewardsOrdinary games cost only food to sign up, and you can win a lot of food in returns and tickets to Final Match!Final match: The ultimate matchParticipants will be eligible to receive a large number of ONG rewards and crystals from the prize pool; they enter the Final match either by spending ONG or using an entrance ticket.CrystalCrystal: The upcoming crucial element of HyperDragons Go! It is will be a significant prop; you must be accumulating in advance.Register in advance: register before the battle start, do not be absent.Are you worried about missing the game? You can sign up for all this week’s competition every Monday, you can balance your busy schedule with HyperDragons Go! There is no limit to the number of dragons that can be registered by each trainer. You can adjust the skill release order of the dragons at any time before the start of the game.Entering the Hall of Fame and enjoying lifelong rewardsThe rich rewards are the driving force dragon trainers. Winning in the weekly finals will give you the chance to win the medals. The dragons who have gathered a certain number of medals will enter the Hall of Fame and enjoy a certain percentage of the bonus pool. Dragons that make it to the Hall of Fame will consistently receive lifelong rewards.In the beginning, the number of rewards in the Hall of Fame will continue to accumulate until the first batch of dragons takes away all the rewards! Those dragons who have gone through hard battles to enter the Dragon Hall will no longer be able to participate in official battles.Customized competition: the fighting never stopsThis feature will not be launched online now. But in the near future, players can start to customize their own games with a small fee. With three or five mighty dragons, putting up their warrior headbands and roaring towards the battlefield, to battle! Enjoy a few rounds of great customized battles with your friends. Come today, lets battle!HyperDragons Go! social media links:Telegram: t.me/ONTHyperDragonsGODiscord: https://discord.gg/BHrS6JrTwitter: https://twitter.com/MixHyperDragonsFacebook: https://www.facebook.com/MixHyperDragons/Instagram: https://www.instagram.com/hyperdragons/Adjusted HyperDragons Go Battle was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 03. 22

MovieBloc, a Project Driven...

MovieBloc, a Project Driven by Korean Content Service Leaders Pandora TV, to use Ontology Blockchain InfrastructureOntology and MovieBloc, a new participant-centric film distribution platform, announced their partnership earlier this week on the eve of TOKEN2049 in Hong Kong. MovieBloc will use Ontology infrastructure for their new platform and Ontology will support MovieBloc with capital, marketing, and operations as a core partner.MovieBloc is a reverse ICO project driven by the Korean video streaming platform Pandora.tv. Founded in October 2004, Pandora.tv runs and operates three major content-related services: the first video streaming platform Pandora TV, the most-downloaded multimedia player KMPlayer (with over 800 million downloads), and the fast-growing advertising network and exchange PRISM. With these services, experiences, and Ontology blockchain technology, MovieBloc aims to create the biggest and most participant-centric film ecosystem.While the overall film consumption market is growing, the industry is dominated by conglomerates with a vertical integration among production, distribution, and exhibition. Biased screen allocation toward in-house films is making it harder for filmmakers to get a proper distribution and exhibition opportunities, and the consumers’ right to free-choice of diverse content is lost.The MovieBloc project started out to solve these problems with blockchain technology. Creators will get a transparent revenue share, audience data, and equal screening opportunity; the viewers will access diverse films and content, and get rewarded for providing curation, subtitles, and marketing materials to the community.Chris Kang, CEO of MovieBloc, said:“Streaming technology and platform operation experiences from Pandora.tv, the huge active user base of KMPlayer, and Prism’s experience in the AD market are the key strengths of MovieBloc to achieve its vision. With a close partnership with the Ontology Foundation, MovieBloc will bring change to the video industry”.About MovieBlocWhile the overall market is growing, the industry is also dominated by conglomerates with a vertical integration among three phases: production, distribution, and exhibition. This integration causes barriers in the industry, such as biased screen allocation, as the business is mainly focused on obtaining a wider audience for stronger revenues. The filmmakers and audience are the main victims of this effect. The filmmakers are asked to produce films only with a high probability of commercial success. The consumers’ right to enjoy various and free-choice content is lost.MovieBloc will solve those problems with its blockchain technology. In the long-term, MovieBloc’s will decentralize the monopolistic, conglomerate-dominated film industry to create one that is participant-oriented.By co-working with KMPlayer, a multimedia player with over 300 million users, MovieBloc will not only provide film producers with an equal opportunity to create and show their films, but also bring various movies at a reasonable price to MovieBloc users.For further information, please visit: http://moviebloc.io.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInMovieBloc, a Project Driven by Korean Content Service Leaders Pandora TV, to use Ontology… was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 03. 14

Ontology Founder Announces ...

Ontology Founder Li Jun with Pandora.tv CEO Peter KimAt a speakers’ banquet hosted by Ontology on the eve of the TOKEN2049 conference in Hong Kong, Li Jun, Founder of Ontology, announced the commencement of a partnership with MovieBloc, a new participant-centric film distribution platform. MovieBloc is driven by KMPlayer, the world’s top multimedia platform with over 812 million downloads, Pandora.tv, the world’s first video sharing platform, and Prism Exchange, a one-stop video marketing platform.KMPlayer is one of the world’s earliest and most popular video media players. Since 2006 it has received over 812 million downloads in over 150 countries, with over 500 million monthly playbacks and growing. Founded in 2004, Pandora.tv is the world’s first video sharing website to attach advertisement to user-submitted video clips and to provide unlimited storage space for users to upload.Invitees of the event included: Peter Kim, CEO of Pandora.tv, Chris Kang, CEO of MovieBloc, as well as representatives from Litecoin, Coinbase, Abra, ICON, Block.one, TRON, NEO, Wanchain, Lisk, Elastos, Zilliqa, Ledger, and more. The partnership marks a milestone in the adoption of Ontology’s public blockchain infrastructure, as Ontology becomes more widely used across industries and regions.Full news on the MovieBloc partnership will be shared tomorrow.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Founder Announces Partnership with Multimedia Industry Leaders was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 03. 13

New | HyperSnakes pre-regis...

From the makers of HyperDragon comes the ONG-based game HyperSnakes. Combining a PvP game style with the game classic Snake. Pre-register and win prizes.Welcome to the new and amazing HyperSnakes world! A competitive multiplayer battle royale version of classic Snakes game with added securities with blockchain and sure to please your entertainment needs. Pre-register exclusively on Ontology:Enter where your Ontology wallet address to pre-register. If you do not have a wallet, using email to pre-register.Join the official telegram group for more information and community.The link to the beta testing will be updated in the telegram group within 2 weeks. Stay tuned for updates!Pre-register starts from March 8th and it will last one week.And HyperSnakes beta version will be released soon.Once HyperSnakes officially launches, simply open the game using your wallet address and receive a triple bonus gift:Exclusive skin18,888 game gold coins5 Snake CoinsAbout HyperSnakesControl the snakes to avoid the opponents and prevent them from being swallowed by the dangerous poison circles! During each battle, only one snake king will survive to win and receive the grand prize! Other players in the same game will also have corresponding values as rewards.HyperSnakes lets you accumulate real value in the game through investing your precious time! Players with great maneuvering skills and greater experience will be rewarded.On Ontology, pre-register for HyperSnakes today and be part of a great game from the beginning!After being in the top 5 blockchain games for many weeks with it’s first hit HyperDragons, MixMarvel team is releasing HyperSnakes aiming to continue exploring proven gaming principles. Based on blockchain to ensure the maximum security and return of value for the players’ invested time, HyperSnakes is going to be a truly massive multiplayer real-time competitive game.As both veteran game developer and crypto enthusiast, the MixMarvel team focuses on developing the very best gameplay, graphical entities, and user experience.As MixMarvel’s team members themselves are gamers, they develop fun and enjoyable games with a focus on quality. The game is based on blockchain technology with Snake as the core gameplay where players can battle other snake players around the world and defeat them and pick up coins from the field.GameplayControl the snakes to avoid the opponents and prevent them from being swallowed by the dangerous poison circles! During each battle, only one snake king will survive to win and receive the grand prize! Other players in the same game will also have corresponding values as rewards.HyperSnakes lets you accumulate real value in the game through investing your precious time! Players with great maneuvering skills and greater experience will be rewarded.On Ontology, pre-register for HyperSnakes today and be part of a great game from the beginning!https://medium.com/media/edfd36c6433be281c32920a009fa13c8/hrefAbout OntologyOntology is a new high-performance public multi-chain project and a distributed trust collaboration platform.Ontology blockchain framework supports public blockchain systems and is able to customize public blockchains for applications. The Ontology also supports collaboration among chain networks with protocol groups.Ontology is continuously developing 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 new requirements from the industry.Read more at https://ont.io/.Join the Ontology community!Twitter: https://twitter.com/OntologyNetworkTelegram: https://t.me/OntologyNetworkNew | HyperSnakes pre-register on Ontology now open was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 03. 08

Ontology to Present 2019 Pl...

Ontology has had a strong start to 2019. Just before the beginning of the year, the Ontology sharding design was released and is now in development, along with several other back-end, module-, and application-layer initiatives (see our January and February monthly reports). Most recently Ontology Development Platform was released on Google Cloud Platform Marketplace, making Ontology one of the first public blockchains to have a development platform on the leading cloud provider marketplaces: Google Cloud, Amazon Web Services, and Microsoft Azure.Now, to welcome on the rest of the year, Founder of Ontology Li Jun will be attending at TOKEN2049 in Hong Kong March 13th-14th, presenting Ontology’s plans for 2019 including an updated roadmap. Li Jun will be participating in the panel The Decentralized Future: Interoperability and Scalability, which will take place from 11:15am on March 13th in the Grand Ballroom.Online event: Ask Li Jun a questionAsk questions in reply to this article on the Ontology Twitter before 23:59 on March 10th (UTC). Li Jun will choose 10 questions to answer, all of which will be answered next week and each receive 1,000 ONG!Interviews at the eventWe are offering three spots for one-on-one interviews with Li Jun during the event. If you are media and would like to interview Li Jun, please submit a request to contact@ont.io.About TOKEN 2049TOKEN2049 is a premier digital asset event where the token economy is explored in-depth. TOKEN2049 shines a light on the global developments of this new asset class, while taking a unique and widening perspective on the token industry and its opportunities.Meet the pioneers, the early believers, highly influential, and established opinion leaders. TOKEN2049 will welcome more than 2,000 entrepreneurs, investors, developers, industry enthusiasts, and global media to Hong Kong for two productive and insightful networking days.You can buy tickets for the event here.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology to Present 2019 Plans at TOKEN2049 was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 03. 05

Ontology and GoWithMi to De...

GoWithMi, a decentralized location-based service infrastructure, is partnering up with Ontology. GoWithMi has received investment from Ontology and both sides will work together on digital land rights and decentralized location-based services.GoWithMe has already reached strategic cooperations with: China’s Beidou Civil Center; Grab, Southeast Asia’s largest travel sharing company; Gojek, Indonesia’s largest O2O service platform; Akulaku, Southeast Asia’s largest consumer lending company; Shopee, Indonesia’s largest e-commerce company; Zoomy, Indonesia’s largest mobile advertising company; as well as Honda, Toyota, and dozens of other industry-leading companies.GoWithMi integrates decentralized location-based services, oracles, and consensus maps. It is dedicated to complementing missing key components which real businesses need for blockchain adoption. An example of their technology in use was at the 2018 Asian Games in Indonesia, where GoWithMi launched the Asian Games Smart Map app, which provided real-time navigation services for the games.In the cooperation with Ontology, GoWithMi will receive technical support and both parties will focus on digitalizing land rights using the Ontology public chain, as well as co-marketing activities in Indonesia. It is expected that in June this year ONT will be added as a payment channel.Location-based services connect the virtual and real worlds, and are regarded as one of the three basic services of the internet. However, in the industry, there are pain points such as compulsory collection of data, ignoring data sharing rights, costs of centralized data collection, poor real-time data updates, and imbalance of service quality.Working together to build cross-platform decentralized location-based service infrastructure, oracles, and consensus maps, both parties will create a plan which includes allowing regional members to participate in the production, distribution, and management of information, and gain rewards for participating in location-based services, on-chain governance, and off-chain activities.GoWithMi has reached strategic investment support from well-known investors and institutions such as: Dr. Chuang Tao, an expert in global mapping; Leo Wang of PreAngel Fund; Manzi Venture Capital; Kresna, Indonesia’s largest listed IT group; and Consensus Lab. GoWithMi’s dApp have surpassed 1,200,000 downloads in Indonesia and aims to attract 10,000,000 Southeast Asian users in 2019.For further information, please visit: www.gowithmi.com.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology and GoWithMi to Develop Decentralized Location-Based Services was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 03. 04

OGC Global Roadshow comes t...

IntroThe second OGC global roadshow stop was held on February 26th at BitTemple in San Francisco after visiting Harvard Law School the week before. More than 100 investors, academics, industry experts, and blockchain community members gathered to discuss and share opinions on the current state and future of the blockchain industry.Keynote speechesAndy Ji, Co-Founder/CSO of Ontology, gave an opening speech, welcoming guests to the event and encouraging cooperation more so than ever at this time in the industry. He stressed blockchain is still in its infancy and real application landing must occur in this period for it to become a fully mainstream technology.Gloria Wu, who engages with the Ontology ecosystem, said Ontology has hit multiple milestones to fulfill its mandate as the best designed and quickest engineered public chain infrastructure for real-world scalability, compatibility, and sustainability. Gloria points out that the thinking of blockchain mass adoption should not be limited to tech development. The architects of future products and solutions might focus on tackling trust issues, instead of solving pain points for individual use cases.This might call for business model designs and adoption approaches to be factored with social, economic, and cultural aspects beyond the typical scope of technology. Blockchain is born global, not only due to the nature of its technology, but because of the diverse experiments it allows with organizations, societies, and regions, which are key to finding its place in the future.Daniel Wen, OGC Venture Partner, said due to better infrastructure, continued adoption, and more clarity on regulation, he thinks the turning point of the blockchain industry is coming. Data shows that VCs are playing more important roles in emerging industries and OGC’s LP already includes many C-level executives of public companies, top entrepreneurs, and renowned scholars such as Ming Zeng. Daniel also shared OGC’s mission, which is to foster the development of blockchain technology worldwide while accelerating real world adoption. OGC aims to do this by exploring new innovations and opportunities, nurturing leaders and projects, and connecting portfolios with capital, advise, and expertise.Portfolio speechesSeveral executives of the projects in the OGC portfolio also gave speeches. Meilun Li, Director of Operations at Bibox, discussed Bibox’s “perpetual contract” technology and upcoming decentralized exchange products later this year following a recent acquisition made by them. Ed Yu, Founder of StrongSalt, introduced their privacy API, which makes using clouds as private as storing data locally. Yiyi He, Co-Founder and CMO of MixMarvel, spoke on the future of the gaming industry, “in the future games have the possibility to become networks which are managed by players, content creators, and other contributors together”. Ava Wen, Asia-Pacific General Manager of Contentos, spoke about Contentos’ plans to provide content support for dApps and public blockchains in 2019, as well as the launch of the Contentos TestNet at the end of March.Steve Wei, Co-Founder and CEO of TOP Network, spoke about the network’s upcoming MainNet release and the more than 50 million users that will be migrated to their public blockchain. Sarah Zhang, Founder of PTS, shared that the PTS data collaboration protocol system already has connected more than one billion identity authentications and 500 million personal credit profiles. Cicily Zhou, DAD’s Business Development Director, shared that the project has accumulated more than two million registered users since May and will focus on the layout of closed-loop advertising traffic this year. Eyal Hertzog, Co-Founder of Bancor Network, closed the event with a short speech on what to look for ahead.In addition, two panel discussion were held about blockchain investment and mass adoption. In addition to the executives of the projects in OGC portfolio, Kevin Ding, Managing Director of DHVC, Tiffany Li, VP of OGC, Alex Shin, Partner of Hashed, Zhen Cao, Partner of JLabs, Chris McCann, Founder of RelayNode, and Chandler Song, Founder of Ankr Network, also participated in the discussion.About O-ShowThe theme of OGC’s “O-Show” is “What’s next for technology and digital innovation?”. OGC is using these events to share its investment philosophy and belief of blockchain’s place in the future digital economy, inviting speakers from its portfolio and community. The plan for 2019 is to cover several top universities, including Harvard, MIT, and Stanford, as well as strategic locations for the industry in Silicon Valley and Asia-Pacific.From March onwards, OGC will visit Vietnam, Japan, South Korea, Hong Kong, Taiwan, and more! We look forward to meeting you at one of our stops.About OGCOGC is a leading venture capital fund focused exclusively on blockchain investment, with the backing of tier one investors globally and managed by a highly experienced investment team.Our mission is to support the development of blockchain technologies worldwide and accelerate real adoption of business applications within the blockchain ecosystem.OGC’s first fund, “Astra1”, has assets under management of 100 million USD. We sincerely welcome passionate industry professionals and future thought leaders, to join the OGC family.To stay up to date with OGC, follow the OGC Twitter and join the OGC Telegram group.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOGC Global Roadshow comes to San Francisco after Harvard Stop was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 03. 03

A sustainable business mode...

Ontology is now on Google Cloud, AWS, and Azure. Driving this demand for an open-source framework, while expanding business and generating revenue, can give public chains a sustainable business model.Many blockchain projects raised substantial amounts of funds during the ICO boom, yet are we seeing projects closing down operations, laying off staff, or even going bankrupt. Among other things, this is due to poor financial management, gambling with investors funds, and excessive spending on marketing and community events — but maybe most important is the lack of a sustainable business model. The question of how to run a sustainable business for public blockchain projects remains open and unanswered.The industry has reached a point where public blockchains are running on MainNet with high and stable performance, many tools and resources, and several dApps in the pipeline. However, the chains remain unused by real business and do not resemble the rich ecosystems they once envisioned. In other words, the infrastructure is ready but not utilized. To reach this point has been a costly affair and maintaining it head on will incur more costs. Therefore, it is necessary to develop a sustainable business model with real projects that generate revenue. We propose the following recommendations:Drive demand for open-source frameworksA fundamental part of adoption is awareness and hands-on experience with the techies themselves. Therefore we recommend open-source projects to commercialize their framework with well-renowned service providers, for example, Ontology has launched its smart contract development platform on Google Cloud, AWS, and Azure. In addition to this, it can be beneficial to host offline and online events to really incentivize developers to get their hands dirty with the technology, for example, Ontology hosts frequent hackathons/workshops across the globe.The idea is to gain attention from the developers who later will be the decision-makers in businesses — especially the young crowd e.g. universities and developer communities.Grab the low hanging fruit, even if it does not fit into public settings (yet)Getting traditional businesses to replace legacy infrastructure with public blockchains is a difficult mission. However, industries are exploring blockchain technology with POCs and pilots. This is an opportunity for public blockchain projects to offer their open-source framework as a solution. Ontology technology has been used by the China government, UnionPay, Everbright Securities, and many more. These examples do not use the public MainNet, but have simply used the free open-source framework and tools to build their solutions. Because they use the Ontology protocol it gives them the option to, later on, link to the public MainNet and join the ecosystem if they choose to do so.Do not incentivize massive dApp deployment, instead find the right teamsSeveral public blockchain projects have launched large-scale online and offline dApp competitions in order to attract projects to build on their platform and push up the TPS. For some, this has resulted in many dApps deployed to MainNet, however, without users or transactions. At Ontology, we have a different strategy, focusing on supporting the best teams who choose our platform for the features it has. The support comes in many shapes and sizes, and can be tailored to the resources and capabilities that a given project might lack in e.g. Ontology offers incubation and VC from the ecosystem fund and OGC respectively. An example of a successful dApp project is HyperDragons Go!, which at the time of writing, ranks number 15 on DAppReview. The team has worked closely with Ontology since inception and has been supported with smart contract coding and marketing events.Strong partnershipsLike dApps, partnerships are not a game of getting most logos on the website, they are about quality. Build strong partnerships with institutions, blockchain projects, businesses, and other organizations that go beyond signing the NDA and MoU. Ontology has a partnership with Sovrin and Evernym to collaborate on self-sovereign digital identity and public blockchain interoperability. This has evolved into discussions about a collaborative effort to identify real business projects that will generate revenue for both projects.Focus on your core competenciesThe top public projects include major players who pursue delivery of universal and industry agnostic infrastructure for the mass. They strive to do what Google, Microsoft, and Amazon are doing for cloud infrastructure. This strategy can end up with the situation where a project tries to do everything, ends up doing nothing great, and then gets stuck. Ontology’s core competencies are the enterprise-grade development components and standards which allow businesses to develop robust dApps. The cornerstone products are the decentralized identity product (ONT ID) and distributed data exchange framework (DDXF), along with a broad variety of standards e.g. the non-fungible token standard and security token offering standard. At the same time, Ontology builds new industry-specific modules as the demand comes through. For example, recently we have begun building a layer 2 for the gaming industry as per the request of people who use the Ontology framework.Enable business with professional servicesIncreased awareness and demand for an open-source blockchain framework is an opportunity for the project teams to offer professional services to clients who want to explore the framework with POCs, or even build a production-ready blockchain network. After all, who’s better at implementation than the project team itself?ConclusionTo survive and thrive, public blockchain projects need to take seriously applying a sustainable business model. By driving demand for open-source frameworks, expanding real business, and generating revenue, they can support their framework to become a mainstream technology of tomorrow.My Twitter / Ontology Twitter / Ontology Developer CenterA sustainable business model for public blockchains was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 02. 27

ParityGame to use the Ontol...

ParityGame to use Ontology for Existing Products and a new PlatformOntology has announced its plans with award-winning game developers ParityGame to co-develop a game platform using Ontology open-source technology. In addition to development, Ontology will also support ParityGame with capital, marketing, and operations.ParityGame’s first VR blockchain-based game “The Isolated City” will be launched on Ontology. The game is built with Unreal Engine 4 that supports DX11, PhysX, APEX, and NVIDIA 3D technology, which brings ultra-high definition image quality. Its game preview received over one million views on video sharing website Bilibili.Ontology and ParityGame will also integrate blockchain into Skrskins, a gaming items and assets marketplace. The platform already has over 500,000 trading users, with over 10,000 daily average page views and an active gaming community of over 60,000 individuals. The marketplace will provide users with more efficient, transparent, and liable game asset trading.Blockchain games are currently a niche market where quality is overlooked in place of transaction volume for the platform and short-term material gain for the user. ParityGame aims to set itself apart from this, developing games that users actually want to play, which are enhanced with blockchain as an underlying technology (for example by creating transparent and fairer game economic models).As one of the world’s first batch of blockchain game publishers, ParityGame already has more than 30 H5 mini-games and cooperates with over 20 Steam overseas game developers. ParityGame will also move many of their games to the Ontology blockchain. Seven H5 mini-games are also scheduled to be launched on the Ontology blockchain.Are you a developer? Read more about our dApp incentive models here.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInParityGame to use the Ontology Blockchain for Existing Products and a new Platform was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 02. 12

Ontology Stake Authorizatio...

On February 5th, 2019,the Ontology team has informed all nodes to start an urgent upgrade of the stake authorisation on the MainNet.There are three major releases of the node staking authorization on Ontology:1. The Ontology has completed two rounds of candidate node. The node staking rules are as follows: candidate nodes promise to stake a certain amount into the node, which cannot be less than the promised value (PromisePos). The node can only increase the staking, not reducing the original staking.2. The stake authorization of Ontology MainNet was upgraded on September 29, 2018. After the upgrade, all users can participate in the stake authorization. If the node wants to get more compensation, it can increase its staking in the following two ways:1)By increasing the initial stake of the node, which is InitPos;2)By accepting the authorized stake from individual users, which is TotalPos.The total node staking including the added staking is used as the basis for fee-sharing. The total stake amount is called TotalPos.3. In line with the Ontology dApp incentive models, Ontology planned to open a third round of nodes recruitment to encourage well-performing dApps developers and operators to become “Ecosystem Nodes”, different from nodes in the first two rounds that are more operational. The requirement for its staking will be lower than nodes in the first two rounds (more details will be released soon).In order to balance the compensation of nodes, the Ontology Foundation plans to adjust the original node incentive plan (10 million ONT incentive for the initial three years), into the following: 70% will continue to be used to encourage nodes in the first two rounds, while the other 30% will be used to encourage ecosystem nodes.It allows nodes to reduce InitPos, and the reduced InitPos cannot be less than PromisePos (the initial staking value when the node first passed the application process).During stake authorization, the node owner can only increase the node staking value by increasing its InitPos, and accept the authorized stake from individual users, not the node itself.This feature was originally planned to be released around March 2019, however, it has been urgently upgraded due to a temporary reconciliation issue.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInOntology Stake Authorization Update History was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 02. 10

Detailed Technical Descript...

On February 5th, 2019,the Ontology team informed all nodes to start an urgent upgrade of the stake authorisation on the MainNet.You can read the announcement here.There are two ways for a node to increase its stake value:1. By increasing the initial stake of the node, which is InitPos;2. By accepting authorized stakes from individuals, which is TotalPos.The funds information authorized by each user to the node is stored in the user node table:Fields starting with Withdraw are the refund lock process. After each round, the locked funds will move down one layer, and only the funds in WithdrawUnfreezePos can be withdrawn from the contract.The logic code for stake authorizer’s fee sharing is:validatePos is the user’s valid staking to the node, including the funds that are cancelled but still in the lockout period. totalPos is the total authorized stake of the node. totalAmount is the total compensation assigned to all authorizations to the node.While increasing the node stake authorization function, we allow nodes to increase and decrease their InitPos, and the reduced InitPos cannot be less than the PromisePos (promised stake) of the node. PromisePos is currently the initial staking value when the node first passed the application process. Reducing InitPos involves the withdrawal of funds, which will go through the unlocking process. The reduced InitPos will be treated as the node’s own authorized staking, which will increase its unlocking funds.As a result, the locked funds of the node generated by its reduced InitPos behavior will be added in the node owner’s validatePos, thus the node will receive compensation that should not be assigned, which causes a funds error and system exception.Before the full function was released on the Ontology MainNet, a node added its InitPos, and then reduced its InitPos by not quitting the process of its own stake authorization and also entered the stake unlocking process. Since the entire stake unlocking process uses a unified withdrawal pathway to make sure for fund security and convenient reconciliation, part of the unlocking stake in the above process took part in the fee sharing process of the authorized staking. In order to avoid fund issues, the system throws an exception.The detailed upgrade plan is as follows:Without causing bifurcation, we modified the fee-sharing logic as planned, meaning the node owner will not be able to participate in the fee-sharing of stakes authorized by other authorizers. The code has been modified to the following:During stake authorization, the node owner is prohibited from authorizing stakes to its own node. It can only increase the node staking value by increasing its InitPos. This also prevents the node from mitigating the punishment for malicious behavior by increasing the authorized stake instead of the InitPos.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInDetailed Technical Description of 0205 Upgrade was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 02. 10

Further Thoughts on the Ont...

On February 5th, 2019,the Ontology team informed all nodes to start an urgent upgrade of the stake authorisation on the MainNet.You can read the announcement here.The network downtime of this upgrade reflects a degree of control the Ontology Foundation has on the Ontology public chain network. Here, we, the Ontology team, are willing to share our thoughts with the community.Ontology believes that the blockchain architecture needs to be controlled to a certain degree in the beginning in the following three aspects:1. Control over the process of network expansion. Blockchains such as Bitcoin and Ethereum have also gone through this process to reach their current scale. In the initial stage, the process development of the Ontology network needs to be developed according to plan, with a process designed and implemented by the Ontology Foundation.2. Control over the costs and compensation of nodes. Node operations require costs and nodes receive compensation from transaction fees. During this initial stage, the dApp ecosystem is not strong enough and fees generated by dApps aree not enough to support node operation costs. Therefore, the Ontology Foundation is consciously controlling the network scale during this initial stage.3. Control over the project. The implementation and stabilization of the Ontology VBFT consensus mechanism to create a fully autonomous infrastructure takes time and requires supports from the technical community. The iteration of the project enables Ontology to achieve its vision step by step. In the early stage of project tuning and innovation, it is necessary to control development to a certain degree to avoid bifurcation and support emergency plans. This upgrade reflects this.The Ontology Foundation has the responsibility to ensure the security of the Ontology ecosystem in this early stage. With the expansion of the Ontology ecosystem, the Ontology Foundation will expand the scale of the Ontology network and enable more ecosystem partners to operate and develop independently.We welcome discussions from the Ontology community and other blockchain projects. Please get in contact with us at contact@ont.io.Find Ontology elsewhereOntology website / Ontology GitHub / ONTO website / OWallet (GitHub)Telegram (English) / DiscordTwitter / Reddit / Facebook / LinkedInFurther Thoughts on the Ontology February 5th Upgrade was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 02. 10

HyperDragons Go! Fully upgr...

New content:HonorHonor: Earn honor points by upgrading dragons. Gen. 0 dragons earn more honor points.Honor points are used to open treasure chests.prestigePrestige: Earn prestige points from opening treasure chests. More advanced chests give more prestige points.Prestige points are used for Prestige leaderboard.ChestChest: Send dragons on exploration to find treasure chests. Higher team power will increase the chance to find more advanced treasure chests.”ChestNew rewards:Prestige leaderboard:Regularly receive ONG rewards based on player rankings(Ranking based on total prestige points)Chest rewards:Rich in ONG and prestige rewards in all four treasure chestsConsume honor to open the treasure chest and defeat the treasure chest guardian to receive a reward of up to 50 ONGThe Dragon Trainer holds up to 3 treasure chests. When the prestige leaderboard is settled, all unlocked treasure chests will be deleted. The trainer can also delete the treasure chest that he does not want.Treasure Chests GuardsNew enemy:Treasure Chests Guards have their own unique skills, so be sure to attack them against their weaknesses! Don’t worry if you don’t defeat the treasure chest guardian in one time. Players can repeatedly challenge the guards with expense of food. Don’t forget to manually click the Open button to receive the reward after defeating the guards.HyperDragons Go! Fully upgraded exploration mode was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 01. 25

HyperDragons Go! Upgrade Tu...

Dragon creation rulesThere is only one system that breeds new female dragons, and players breed male dragons. The initial breeding quota of female dragons is 1, and that of male dragons is 0. Each time the dragon gets an extra breeding opportunity when it upgrades five levels e.g. 5,10,15,20…(Eva can not breed)System female dragon initial price: 480 ONG Ending price: 20 ONG Duration: 3 daysSystem male dragon initial price: 100 ONG Ending price: 20 ONG Duration: 1 dayOntology dragon initial price: 2000 ONG Ending price: 400 ONG Duration: 7 daysThe ONT Dragon is fixed as male dragon. The price of dragon is not fixed rather Dutch auction. Dragon price will start from the initial price and decrease linearly with the duration till the ending price.The system female dragons’ price will fluctuate in regards to the average transaction price of the recent five system female dragons.Players are free to set the initial price, ending price and duration of the dragon.The system male dragon price is relatively low; the property is random, it is an excellent choice for players to get started. The ONT dragon is a male dragon, and the combat Strength is dominant. It will only appear after the first, 20th, 100th and 300th of the system creation and 500th male dragons behind it. Players who like strongest dragons must not miss it.2. Dragons basic attributesHealth: dragons’ ability to withstand damage (HP)Strength: the basic attacking power of the dragonStamina: Affect the basic defense and hit rate of the dragon Dexterity: the dragon with higher dexterity gets the first hand. Affect the dodge rate of the dragonIntelligence: Affects the damage dealing skill of the dragonBasic crit rate: 10%; Basic critical strike damage: 130%Power: the average of health, strength, physical, dexterity, and intelligenceGrowth rate: the average growth value of the five attributes of dragon-fighting. As shown in the figure above: life 158 (+5), +5 growth per level of this attribute in bracketsIf the opponent is restrained, the skill effect is +20%; Skill effect -20% if overpowered by opponent.3. Dragon battle skillsNote: The opponent’s defense value will reduce the damage based on the Strength value, and the damage based on the intelligence value is not affected by the opponent’s defense value.Attack: each scale and claw of a dragoon can damage an opponent, causing strength based damage to the opponentDefense: the dragon flexes its muscles and closes its wings for defense. Damage taken in the next turn is reduced by 70%Charged strike: the dragon gathers strength for a powerful physical attack.Strength bonus:★★☆ Intelligence bonus:★Dragon stomp: killing you is as easy as stepping on ants!Strength bonus:★★★☆ Intelligence bonus:★Deadly blow: a powerful strike from a dragon that can shatter mountains and rocks.Strength bonus:★★★★ Intelligence bonus:★Fireball attack: a hot fireball is hot enough to ignite the air!Strength bonus:★★ Intelligence bonus:★★★Meteor shower: rain of justice from heaven!Strength bonus:★★☆ Intelligence bonus:★★★Revelation: E= MC squaredStrength bonus:★★★ Intelligence bonus:★★★Defensive barrier: powerful magic creates an impenetrable barrier around the dragon. The dragon takes 85% less damage during next turnPower up: increases your damage over the next 2 turnsDefense boost: increases your defense over the next 3 turnsDodging boost: increases your dodge over the next 2 turnsAttack reduction: reduces your opponent’s attack over the next 2 turnsReduced defense: decreases your opponent’s defense over the next 3 turnsHeal: quickly apply emergency health kit! Regenerates 30% of your maximum healthDaze. 3, 2, 1. Get stunned!The damage is slightly lower than the normal attack but has a higher probability of making the opponent stun for 1 round.Talons of the storm: angry strike with storm and thunder!The damage caused is slightly higher than the normal attack, and there is a certain probability that the opponent will stun for 1 round.4. How do you breed a dragon?Breeding dragons need to meet the following requirements:1. a male dragon, a female dragon2. Both fighting dragons were in normal state and the breeding times were > 0Both dragons are owned by the operator, or one is for rent4. Breeding fee: 20 ONGThe breeding outcome of players is male dragon, Eva cannot breed. The initial breeding frequency of female dragons is 1, and male dragons is 0.Each time the dragon gets an extra breeding opportunity when it upgrades five levels e.g. 5,10,15,20…After receiving confirmation from the blockchain, the mother dragon will enter the “pregnant” state, the pregnancy time is fixed to 8 hours, and the number of breeding for both parents will be reduced by 1.Gene inheritance:1、 If both parents have the same elemental attribute, the child will inherit the attribute. If not, it will be random2、 Children have a higher weight to inherit their parents’ skills and physical characteristics3、 Children are more likely to inherit their parents’ basic attributes and growth rate.HyperDragons Go! Upgrade Tutorial was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ontology

19. 01. 08

Transaction History
Transaction History Market Market Transaction volume Address
Coinsuper ONT/USD 916.90 4,904,829,193.51 Short cut
CoinEgg ONT/USDT 919.65 3,521,170,286.01 Short cut
Bit-Z ONT/USDT 919.64 1,543,474,061.05 Short cut
CoinEx ONT/BTC 920.23 893,307,838.40 Short cut
BitMax ONT/USDT 919.29 725,284,132.93 Short cut
Coinall ONT/BTC 917.75 698,869,556.13 Short cut
Hotbit ONT/BTC 917.77 276,482,046.23 Short cut
DragonEx ONT/USDT 910.54 241,345,128.55 Short cut
HitBTC ONT/ETH 919.85 190,498,667.29 Short cut
55 Global Markets ONT/USDT 915.84 156,642,461.38 Short cut
BitMart ONT/ETH 914.53 82,194,707.99 Short cut
TOKOK ONT/USDT 917.98 55,436,775.12 Short cut
DigiFinex ONT/ETH 916.59 48,610,660.69 Short cut
Tokenomy ONT/BTC 934.30 37,707,973.47 Short cut
UPbit ONT/KRW 917.00 30,099,127.38 Short cut
Huobi Global ONT/ETH 917.61 29,280,631.59 Short cut
OKEx ONT/ETH 918.59 29,198,432.61 Short cut
BigONE ONT/USDT 919.06 24,238,787.59 Short cut
BKEX ONT/ETH 917.02 21,417,952.68 Short cut
Binance ONT/USDC 918.25 11,979,105.41 Short cut
Bgogo ONT/BTC 918.12 9,977,378.99 Short cut
Kucoin ONT/USDT 915.04 2,562,982.52 Short cut
Bittrex ONT/USDT 812.26 2,102,544.91 Short cut
Indodax ONT/IDR 902.76 761,447.62 Short cut
Gate.io ONT/ETH 933.85 680,986.12 Short cut
Sistemkoin ONT/TRY 903.47 619,455.57 Short cut
Bitbns ONT/INR 1,174.35 446,781.28 Short cut
Huobi (HBUS) ONT/BTC 918.45 84,220.45 Short cut
Koinex ONT/INR 669.97 9,843.87 Short cut
Bibox ONT/BIX 889.56 1,779.13 Short cut
Liquid ONT/BTC 1,656.85 0.00 Short cut
BCEX ONT/CKUSD 563.54 0.00 Short cut
Huobi Korea ONT/ETH 916.06 0.00 Short cut
coinone To be provided later To be provided later To be provided later Short cut
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