How Ontology is bringing business onboard the blockchain

ONG OWallet is an electronic spread trust platform Located in China. It's designed so that businesses can move on blockchain without difficulty. The aim is to supply blockchains, smart contracts, spread affirmation management and data exchange with programs which are flexible, modularized, pluggable, and scalable. There are several flaws in the system once it has to do with trust, which has made businesses fear the idea of embracing blockchain technology. Ontology is trying to solve this dilemma. The value of ontology is gotten from the capability to make a company move their system to blockchain without previous understanding of how blockchain functions.



ONG OWallet has its functioning mainnet. It is The very first blockchain platform to offer identity. It uses a mix of a decentralized system. At the center, there are four blockchains that are interconnected. Chain one is the feature for the identification of individuals, Organizations, riches and collaborations. Chain two is the framework that verifies and connect protocols of smart contracts, storage, protection of data, and distributed trust. Chain three is the degree where applications are linked together and the previous series, which will be chain four, is the base of all of the network chains. That's the layer that connects all of the chains together.



ONT Owallet Github works with a brand new tool called the VBFT To help make consensus on processing transaction and construction blockchains. It also integrates proof of stakes, verifiable random function (VRF) as well as the Byzantine Fault Tolerance. The VBFT is a great way for supporting scalability of consenting groups' whereas the VRF guarantees fairness through random selection of who is constructing the blockchain with speed and security. Ontology has two great native cryptocurrencies; ONT, which is the money, that represents a talk in the blockchain while they have ONG as the cryptocurrency that is used to fuel the ecosystem itself.