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About
Ontology (ONT)

Ontology (ONT) is a high-performance public blockchain project engineered to construct a decentralized trust ecosystem. It specifically addresses the complex challenges of digital identity verification and data management by providing robust decentralized identity (DID) solutions and secure data exchange frameworks. The platform aims to empower users with control over their digital assets and identity, fostering trust collaboration across various Web3 applications and enterprise scenarios. This focus on data sovereignty and self-sovereign identity is a core tenet of its design.

At its technical core, Ontology utilizes a unique consensus mechanism known as Verifiable Byzantine Fault Tolerance (VBFT), an innovative hybrid combining Proof-of-Stake (PoS), Verifiable Random Function (VRF), and Byzantine Fault Tolerance (BFT) for enhanced network security and transaction finality. It supports versatile smart contract development, notably featuring the Ontology EVM to ensure compatibility with Ethereum-based applications, thus broadening its appeal for dApp developers. The platform operates on a dual-token model: ONT, the primary digital asset, is used for staking in network consensus and governance participation. Ontology Gas (ONG) functions as the utility token, facilitating on-chain services such as transaction fees and smart contract deployment on its digital ledger.

Ontology's architecture, including its ONT ID for decentralized identity and the Decentralized Data Exchange Framework (DDXF), positions it as a key infrastructure provider for building applications where trust and cryptographic security are paramount. By enabling businesses and individuals to manage and exchange data securely, Ontology contributes significantly to the maturation of Web3 infrastructure, offering a specialized blockchain technology solution for integrated identity and data protocols within a decentralized network.