What is Ontology? How will it reshape the NEO ecosystem?

Launched by Chinese company Onchain in 2017, Ontology is a public platform for projects of all shapes and sizes, and is a giant step toward removing barriers between the blockchain and business sector.

Ontology is revolutionary in the sense that it allows businesses without previous knowledge of distributed networks to use blockchain technology. Right now, there’s no way for businesses to integrate blockchain into their infrastructure without extensive knowledge of blockchain.

As well, current trust networks face a variety of issues. Poor privacy protection, untapped data value, data management monopolization, and ineffective identity authentication are all opportunities for blockchain. Ontology seems to resolve these issues with its solid trust ecosystem.

Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled.

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