Ontology was created in 2017 by OnChain, a Chinese company which also created the NEO cryptocurrency. Ontology was introduced to facilitate the adoption of blockchain in companies of various sizes, without these completely changing their mode of operation and without blockchain knowledge. The Ontology network has the particularity of allowing companies to use a public blockchain and a private blockchain at the same time. Finally, Ontology uses a consensus called VBFT, which uses three separate mechanisms: POS , Byzantine Fault Tolerance and verifiable random function.
This data was last updated 2021-05-13 22:08:37 UTC