Learn More About ONT ID With Ontology At Consensus: Distributed 2020

Ontology Gas | 05.12| 110

To mark the first-of-its-kind virtual conference, Ontology is hosting a series of online events to complement this year’s Consensus conference

Consensus: Distributed kicked off in style on 11 May, marking the first-ever virtual version of Coindesk’s flagship conference. As well as participating in Consensus Distributed: 2020 through the Ontology Virtual Booth, the Ontology team has prepared a series of webinars that will be rolled out throughout the week. The daily webinars are designed to give Ontology community members, as well as Consensus: Distributed attendees, a chance to gain deeper insights into Ontology’s high-performance enterprise blockchain and its bespoke decentralized products. Each day this week, our experts will be on hand to share their expertise on a different Ontology-related topic.

Launching Ontology’s webinar today were digital identity experts Hu Ning, Senior Tech Lead for Ontology’s Digital Identity and Erick Pinos, Ontology’s Americas Ecosystem Lead. They shared their insights and expertise on ONT ID, Ontology’s decentralized digital identity platform, a unique protocol of Ontology’s which can be easily adopted by individuals and enterprises and is specially designed to put users in control of their data and identity.

Every day, the world makes millions of transactions via digital applications. We shop, share information, and communicate via mobile apps. But who decides what happens to our data? How can we reorder data to ensure its true value is realized, and how can we make systems and sensitive information less vulnerable to attacks? Ontology aims to make the way the world shares and stores data better for everyone; increasing trust, security, and transparency.

Through blockchain and cryptographic technology, the ONT ID decentralized framework connects people, data, and services. Aimed at protecting user privacy and data security, ONT ID enables trusted collaboration between parties, allowing users to maintain control over their data and identity.

Through the ONT ID digital identity wallet, users can:

  • Get authorized by 4 Trust Anchors (CFCA/SenseTime/Shufti Pro/IdentityMind) and receive blockchain certificates.
  • Get authenticated with 9 communications applications, including mobile and email, as well as social networks including Twitter, GitHub, Facebook, LinkedIn, Kakao, Line, and Amazon.
  • Receive and send fungible and non-fungible ONT tokens.
  • Stake ONT in Ontology nodes to earn ONG rewards.
  • Access and use dApps developed on the Ontology blockchain.

Combined with DDXF, Ontology’s distributed data exchange framework, business information can be recorded and circulated between parties securely, increasing collaboration and unlocking real business value while respecting the privacy and rights of all parties.

Erick gave a full presentation on ONT ID use cases during the webinar. Besides acting as a multi-source identity system for people and objects, it can be applied to distributed data exchange, distributed collaborative systems like medical services, decentralized inclusive financial services, and distributed content generation and trade.

At the Q&A session, Ning and Erick answered the below questions from the community:

>What are ONT ID transaction speeds and transaction fees? Currently, does ONT ID APP have any program to help users reduce transaction fees?

>What is your long-term vision about the industry which the #ONT project is working at? Cryptocurrency industry is always thriving, what plans do you have to keep up with technology trends?

>How secure is ONT ID when saving our cryptocurrencies? And what plans do you have for the future?

>How is the adoption of ONT ID? Is it possible to add the ONT ID to Paribu?

>As we know, every successful project has a few stories behind the scenes, what’s the story behind Ontology success? What was that vision when it first emerged as an idea? Are there any special prototypes or upcoming Ontology updates that you want to show/share with us?

>Just recently, Binance issued an ONT-pegged token called ONT-33D which is good. Now, what does it bring to the project? How will the Ontology community benefit from this?

Find out the answers by watching our ONT ID Day live webinar on YouTube.

Make sure to stay tuned throughout the week for more updates on Ontology’s series of online events where you can learn more about our products and the driving force behind Ontology.

To find out more information and to sign-up for webinars taking place all week, click here.

Find Ontology elsewhere

Ontology website / Ontology GitHub / ONTO website / OWallet (GitHub)

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Twitter / Reddit / FacebookLinkedIn

Learn More About ONT ID With Ontology At Consensus: Distributed 2020 was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

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