On Feb 19, Ontology and Binance.US hosted an AMA on Telegram to answer questions from the community and share current and future developments of the project since Binance.US supporting ONT/USDT, ONT/USD trading pairs.
Ontology’s Co-Founder Andy JI and Americas Ecosystem Lead Erick Pinos joined the AMA and answered questions from the community.
Ontology has a dual-token model. Very special. It uses ONT for staking, utility cases and governance and ONG as gas fuel. In the Ontology infrastructure design, everyone can participate in the ONT PoS mining, and the time costs of staking and the operating costs of the nodes are considered to be contribution and ONG is distributed as compensation. ONG is the utility token used as a value anchoring tool for on-chain applications. Now we are also expanding the Ontology ecosystem by seeking more scenarios where ONT could be used in our daily life.
First, Ontology has a strong technical accumulation. We had taken the lead in the launch of Sharding, Cross-chain, and Wasm-JIT, and had completed BTC and ETH cross-chain integration. 80% of the Ontology team are engineers. It may sound boring but on the other hand, indicates that we focus 100% on the technology side. Our big milestone — Ontology Aristotle (version 2.0) will be launched around Q2. Ontology uses a staking model where ONT can join PoS mining and get ONG in a unit of time, and ONG can be used for transaction fees on the blockchain. At the same time, we are expanding the scenarios of ONT and ONG which hopefully will help you improve your daily life. We do have enough funds to support the long-term operation. In 2020, we will try to meet the requirements of fully regulated countries like G7 and hopefully, we can enter into more markets like Japan, Germany, and the US market, which will strongly support the long-term adoption。
That’s our target to serve more users and transfer the traditional customers to understand, purchase and own cryptocurrency. We are incubating a project specialized in fiat gateway and payment which will be launched soon. Meanwhile, we plan to be listed on more regulated fiat currency exchanges and develop more ONT payment scenarios in the future, such as the ONT credit card and other scenarios to make ONT more useful in real life. In the meantime, we will also promote cooperation between ONT Staking and DeFi. Ontology will focus on technology development as usual and have more real business applications. I would like to highlight the regulation again. We are currently approaching several main US custodian vendors like Bitgo, Bakkt, Coinbase, KingdomTrust and etc.
Firstly, we are very honored and excited that ONT has been listed on a regulated US marketplace like Binance.US, and we welcome all Binance.US users to our community.
We know that in recent months, several international exchanges have pulled out of the U.S. market due to regulatory ambiguity — leaving American traders with a dwindling variety of platform and coin options.
But Binance.US, as the world’s largest exchange with the advanced trading technology, understands the nuances of the American crypto landscape and is always on a mission to help the US market catch up to its international peers. That’s why we choose Binance.US.
As for the advantages of this listing, US-based traders can now trade ONT in USD and USDT trading pairs. It is also the first to provide a fiat and stable coin on-ramp, in contrast with the crypto-to-crypto model offered by most exchanges. In addition, it will be a great help for us to penetrate further into the US market. Recently, Ontology is exploring several mainstream industries in the US market. We are seeking more excellent partners in the US like Bison Trails, MicroWorkers, KingdomTrust and so on. The cooperation details will be published on social media soon. On the tech side, Ontology and Chainlink are devoted to providing efficient Oracle tools for worldwide developers, and we just invested in bloXroute Labs to develop the BDN (the blockchain distribution network) solution and Layer 0 scalability. We hope that American users could know more about ONT and Ontology’s technologies, insight, and vision as we seek to make the world a better place using advanced blockchain technology solutions.
Before this past Lunar New Year, our Founder, Jun LI, shared Ontology’s strategic plan on YouTube with our global community and we have published Ontology’s 2020 roadmap shortly after. Cross-chain (adding Bitcoin, Ethereum and EVM compatible public chain interoperability), Layer 2, enhancement of ONT ID and data sharing protocol will still be our main focuses this year. We will keep moving forward and never stop. More details will be released in the following months. You can also check more details of our roadmap here.
Or in bullet points:
i. Faster and cheaper protocol ( than ETH and XRP)
ii. Easy adoption and enterprise-ready
iii. Regulatory friendly finance
iv. Data market along with authority
The new Aristotle aims to solve the scalability problem. It will include Layer 2 solutions for micro payment and sharding (solo first) to enhance the payment user experience.
PoS mechanism. So it may need a little stake to keep the network safe. We will try to lower the barrier.
No magic. Faster, cheaper and keep improving. Bring more real adoption and massive users are the only right way.
Yes. ONT ID can be applied as cryptographically verifiable real estate and housing records, eliminating the need for a middle man to sign papers when someone buys a house.
We are more focused on the enterprise part. Some partners with massive users want to implement a new distributed service on blockchain. Ontology is the best choice because we have more than 200 manpower to support enterprise-class service as Consensys did. Big enterprises cannot rely just on the community.
You can imagine a bank network. There are several types of business like lending, wealth management. We don’t need to build a separate business chain anymore. We can easily adopt a shard and you just close it if the business shuts down.
Exploring the newly regulated market and finding the “Killer App” is a big challenge. The same to Ethereum. We don’t know the DeFi is future or not. We picked up three topics such as payment, gaming and manpower collaboration.
Ontology has a strength in its real-business use case and partnerships and enterprise focus. We support our community like a foundation but also test out business models like a company. The biggest problem, as like every other project, is the learning curve for crypto adoption + the business models to keep blockchain companies alive. We tackle these two issues every day with every iteration of our platform. There is a popular Ontology DEX by the Sesameseed Team.
ONT can support this kind of scenario. But the key problem is not technology. You need some professional support from the business side. The main question lies in how to convince the businessman to understand blockchain and its benefits. It takes time but it will be interesting, considering the tokenization of everything.
Soon in the US Market.
Personally, I also like some other protocols. That’s why Ontology chose to build a multiple chain collaboration platform. If you prefer Tezos, ETH, that’s all right. We can support all. Like we mentioned earlier, our ONTO wallet also supports Ethereum, Neo, and Klay.
Infinito is a good wallet but I think ONTO is better. Fiat entrance will become an important feature.
OWallet is compatible with hardware wallets like Ledger, you don’t have to choose. You can use OWallet desktop interface with your hardware wallet.
That’s a healthy win-win model with our eco-partners. They help us to bring more users and transactions, attention. We focus on developing an easily- adopted platform and share their voices. We will bring more traditional companies in this area as the crypto is the future.
ONTO already supports Ethereum, Neo, and Klay.
The more adoption Ontology ecosystem tokens get, the more value is brought to the entire network overall, correlating to higher value ONT and ONG. So support our ecosystem projects as much as you support ONT.
Ontology gas is quite cheap. It only costs around 40 cents per 100k transactions.
ONT is used for staking and for node governance. As you hold ONT, it generates ONG that you can use to make transactions on the network. The longer you hold ONT the more ONG you get. Or if you are impatient you can buy a lot of ONG and make a lot of transactions on the network right away.
You can give it a try and then you will know which one is better. That’s why we had more dApps than Neo.
Every month there is a new blockchain platform. They come and go. To be honest, the ideal future is one where developers can pick the right tool for the job. We keep our focus on what we do best which includes pushing for real business cases with enterprise partners.
a. The government prefers a permissioned blockchain than permissionless.
b. Private corporations are not allowed to issue digital currency.
c. The government encourages companies (like us) to develop an outstanding framework and get rewards from the government. (We receive 500K USD bonus per year).
d. Most enterprises are trying to implement blockchain. But the use case is limited by region.
Ontology is a multi-chain system and easily connect with permissoned ledger and other protocols.
본랑 10 시간전
아이더스페이는 이미 출시되었고 지금도 약속한 이자를 꾸준히 지급하고 있습니다. 자세한 수익인증 및 가입방법은 https://aidus.co.kr/ 를 참고하세요
Community | '아이더스' 6가지 사실들
본랑 12 시간전
탈중앙화 글로벌 펀드 마켓 플랫폼 아이더스의 야심작 아이더스페이는 연12% 고정이자율에 중도해지수수료 없이 원금수량까지 보장하는 섹시한 투자상품입니다. https://aidus.co.kr/ 에서 쉽게 따라하며 가입하세요.
News monitoring | '아이더스' 아이시스글로벌 ‘아이더스 페이’ 공개로 새 패러다임 제시
해지하기 버튼 자체가 없어요
Community | [중요] 이오스 렉스 참여방법 (EOS 입금부터 수익금 확인방법까지)
몇번이고 확인 했습니다. [해지하기]라는 버튼 자체가 없어요. 확인부탁드립니다.
Community | [중요] 이오스 렉스 참여방법 (EOS 입금부터 수익금 확인방법까지)
아이더스페이 가입자로서 이런 기사들이 밖으로 많이 보여지면 좋겠다고 생각합니다. QTS를 수익모델로 만들어진 투자상품이 아이더스페이인데 관련 정보는 https://aidus.co.kr/ 에서 얻어가세요.
News monitoring | '아이더스' QTS 최고 권위 ‘배틀 오브 더 퀀츠’ 포럼 참가
Write a post
Are you sure you want to delete this post?
Are you sure you want to delete this comment?
Purchase has been completed.
닉네임을 설정 후 작성해주세요.