ONT

Ontology (ONT) is a high-performance, open-source blockchain project focused on bringing trust, privacy, and security to Web3 through decentralized identity and data solutions. It provides a high-speed, low-cost public blockchain designed to empower users and enterprises to build compliant, flexible blockchain-based solutions. Core offerings include ONT ID for self-sovereign digital identity, the ONTO Wallet for managing assets and data, and the Orange Protocol for digital reputation. This versatile platform aims to revolutionize how identity and data are managed in the decentralized internet.

The Ontology blockchain is a high-speed, low-cost public chain utilizing the VBFT Consensus Mechanism, which supports rapid and scalable Web3 solutions. It boasts Multi-VM support, including seamless EVM compatibility, enabling broader developer access and cross-chain functionality with Ethereum. Furthermore, Ontology incorporates Layer 2 solutions based on Optimistic Rollup for enhanced scalability and efficiency. Its original architecture combined with EVM integration allows for powerful, private, and secure decentralized applications (dApps).

The Ontology network operates on a dual-token model with ONT and ONG. The ONT token serves as the primary means of storage and transfer of value, allowing holders to stake it to contribute to network security and participate in governance. In return for staking ONT, users earn ONG rewards. The ONG token is primarily used to pay for transaction fees and smart contract deployment costs on the Ontology network, ensuring predictable and low-cost operations for users and developers alike.

Ontology's VBFT consensus uniquely integrates Proof-of-Stake, verifiable randomness (VRF), and Byzantine Fault Tolerance. This allows dynamic, unpredictable node selection per consensus round while maintaining ≤20-second block finality. The architecture separates 49 consensus nodes from candidate monitoring nodes, enabling scalability through multi-layer sharding without centralization trade-offs.

ONT ID implements recursive delegation: identities can be managed by individuals, groups, or nested control structures with customizable thresholds (e.g., 3-of-5 signatures required). This supports enterprise-grade use cases like cross-border KYC where control must be distributed across entities. Additionally, credentials are anchored to the chain via SHA-256 hashes rather than raw data storage, enhancing privacy.

Consensus nodes set configurable fee-sharing ratios between their own stakes and public stakers. For example, a 10%/90% ratio allocates 10% of rewards to the node operator and 90% to public stakers. The Ontology Incentive Curve further optimizes rewards when nodes stake twice the network average, creating an equilibrium that discourages centralization.

Yes, Ontology's EVM implementation allows full compatibility with Ethereum tools (MetaMask, Truffle) and standards (ERC-20/721). Developers can deploy Solidity contracts with lower fees (0.05 ONG/tx vs. Ethereum gas) and leverage Ontology's decentralized identity protocols. ONT/ONG are bridgeable as ORC-20 tokens (WONT/WONG) for EVM ecosystem use.

Key implementations include: 1) Mobility (bloXmove partnership for unified transport credentials), 2) Music (ROCKI's artist NFT authentication), 3) Supply chain (ZAICO's inventory verification), and 4) Healthcare (patient data sharing via encrypted data tokens). These leverage Ontology's data exchange protocols and verifiable credential standards.