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What is Ontology?

I apologise for being unfamiliar with Ontology. What is it and what does it do? Please 🙏

Answers 1

Ontology is high performance public blockchain with support of smart contracts. It aims to bring the distributed ledger to businesses of all sizes in an easy to use form.

It provides various frameworks and tools:

  • Identity framework (ONT ID)
  • ONTO Wallet
  • Decentralized exchange (DDXF)
  • Development toolkits

Ontology uses VBFT consensus, which combines three different models. These are Proof-of-Stake (PoS), Byzantine Fault Tolerant (BFT) and Verifiable Random Function (VRF).

P.S. Ontology knowledge base is being built on Peeranha before it becomes an official Q&A for the project

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