ONG (ONG)

ONG (Ontology) is a high-speed, low-cost public blockchain that aims to bring decentralized identity and data solutions to Web3. To increase privacy, transparency, and trust, Ontology allows users and enterprises to build blockchain-based solutions suited to their needs while ensuring regulatory compliance. By leveraging the Ethereum Virtual Machine (EVM), Ontology ensures seamless compatibility with Ethereum, forming the basis for the Ontology Multi-Virtual Machine and enabling interoperability with other chains.

Underpinning Ontology is the VBFT Consensus Mechanism, a multi-VM support layer, and a layer two solution based on Optimistic Rollup. The protocol also incorporates cross-chain collaboration and decentralized identity frameworks such as ONT ID, ONT Login, ONT TAG, Mercury, and OScore. These frameworks enhance privacy and security, preventing unauthorized access and data breaches. Ontology’s vision is to empower individuals with total control over their online data and identity, enabling a future where privacy and security are ensured through encryption.

ONT ID comes natively integrated with the ONTO Wallet, a cross-chain wallet that allows users to manage their digital identity, data, and assets securely in one place. By leveraging encryption and giving users complete control over their data, ONTO Wallet provides a seamless and secure experience for handling on-chain assets, transaction history, and other digital footprints. Additionally, Ontology offers Wing Finance, a cross-chain DeFi lending protocol integrated with a reputation score. OScore, the blockchain’s reputation scoring system, enables users to access under-collateralized loans based on their reputation, opening up various DeFi activities such as lending, borrowing, and insuring.