It has been roughly five years since the general public became familiar with blockchain and three years since Ontology was founded in 2017.
People often ask me why we chose the name “Ontology”. In fact, the term “Ontology” has multiple meanings. While it can be understood as a formal expression of the relationship between entities, in the philosophical sense, “Ontology” refers to an exploration of the world’s origins. The term“Ontology” is also connected with data semantics — the branch of linguistics concerned with meaning — and knowledge maps, an important aspect of computer science. The above concepts are in line with our long-standing beliefs around “Entities” and “Data”. At Ontology, we are creating a backend common infrastructure platform, an open identity, data, reputation, and self-organization protocol for enterprises and individuals, as well as a decentralized platform for interactive and collaborative processes.
Against this backdrop, in 2018, we launched a three-year roadmap in which each year is named after three ancient Greek philosophers: Socrates 2018, Plato 2019, and Aristotle 2020. We made this decision to pay homage to the scholars of the past, as well as to highlight our intention to encourage further exploration of new trust mechanisms and social collaborations.
In Socrates 2018, we focused on the construction of the chain-network and the trust ecosystem. After the launch of the Ontology MainNet in the second quarter, we added support for Wasm, VBFT, Transaction Parallel Verification, and authority management. In the same year, we also released ONT ID, a distributed identity framework, as well as a distributed identification protocol release, a verifiable claim protocol, and a sharding design.
In Plato 2019, our primary goal was to build upon the chain-network. We added support for MPC (Multi-Party Computation) and multiple cryptographic algorithms, and launched the distributed community framework, more distributed financial services, and more distributed applications (dApp)s. In 2019, we also released sharding and cross-chain functionality live on the testnet.
Now in Aristotle 2020, our goal of becoming the leading global collaboration platform remains. So far, in terms of the chain-network, we have already accomplished cross-chain functionality with BTC and ETH, and released a virtual machine that supports Wasm-JIT and multi-platform smart contracts. Soon, we will implement the Ontology Oracle trust data-source protocol, the new version of the distributed identity protocol ONT ID, the Distributed Data Exchange Framework (DDXF) 2.0, as well as anonymous transactions and on-chain voting.
The Ontology team is always striving for increased research, development, implementation, and promotion of blockchain technology. Our experts regularly take part in industry-defining discussions, such as IEEE Standards Committee meetings, the ISO TC 307 Blockchain and DLT meetings, and the ITU-T FG DLT meetings, where they actively contribute to the formulation of international standards.
The Ontology Decentralized Identifier (DID) has been formally added to the W3C-CCG DID Method Registry as a new Decentralized Identifier Method, becoming the third open-source public chain to implement the DID specification in Socrates 2018 after Bitcoin and Ethereum. These new features help ensure enterprises moving from traditional industries into blockchain have a smooth transition.
We also continue to equip developers with the best tools possible in order to make it as easy as possible to learn to build on our blockchain. For example, our Multi-VM, released as part of Aristotle 2020, supports multiple types of contracts and languages. Several test results show that the Ontology’s virtual machine has reached leading levels of performance worldwide. In addition, we provide developers with access to a rich learning center through the Ontology Research Institute, where they can access up to two deep blockchain articles each week to help them get to grips with the technology.
Our global community is one of our most important assets. In addition to providing comprehensive development tools, we are also building close relationships with young blockchain builders through our Global University Workshops, which were held at Seoul National University, Northwestern University, University of Chicago, Cornell University, Princeton University, and Harvard University. We were deeply impressed by the abilities of the young people we met at these workshops and we believe that they will be key forces for the trust ecosystem in the next five to ten years.
Ontology’s core markets include the Americas, Europe, and Asia. In addition to our local offices in Europe, the United States, Japan, and Singapore, we have also launched the “Global Community Contributor Program” (#GCC), which allows us to better listen to our global community to more effectively allocate resources and processes for community growth and development.
The most widely-used Ontology wallet is the official wallet ONTO, which helps users to manage everything from their identity to their assets, all in one. ONTO now also features entertainment apps such as games and movies, as well as practical apps that help users to manage things such as insurance, wealth management, and hotel bookings. In Aristotle 2020, with the release of the Wishing Wall, On-Chain Task, and other new apps, ONTO will continue expanding into new use cases. In the future, new ONTO apps related to fashion, food, housing, and transportation will be available. It is our vision that ONTO will not only serve as a user’s key to the blockchain world but as a one-stop, multi-functional application in their daily lives.
The details of Ontology 2.0, as well as other technical breakthroughs, will continue to be revealed throughout Aristotle 2020. 2020 will be a year full of change, challenges and unlimited opportunities. We will continue to move forward and make steady progress in the directions of “Decentralized Infrastructure” and “Trust Ecosystem”.
Founder of Ontology: Aristotle 2020, Breakthroughs, and Moving Forward was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.
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