Whitepaper

 

Ontology is a blockchain/distributed ledger network which combines a distributed identity system, distributed data exchange, distributed data collaboration, distributed procedure protocols, distributed communities, distributed attestation, and various industry-specific modules

 

Trust systems and ontology network

• Trust through technology

  • Blockchain has fundamentally changed the future of trust ecosystems

• Trust through Legal Systems

  • Issue of legal authentication

  • Issue of Legal support

  • Issue of identification

• Trust through communities

  • Many attempts to build new communities of trust, such as Google PageRank, Pretty Good Privacy, Web of Trust, and others

• Current issues in trust networks

  • When data has to be verified by multiple sources the process can become time consuming, costly, and put data security in jeopardy

  • Using a single information management system makes it difficult to form comprehensive identity portfolios

  • Current community management systems do not have sufficient moderation tools

  • Individuals do not have enough say in the use of their own data and authentication of other data

  • Currently there are not sufficient identity verification mechanisms to prevent illegal and malicious node access to the internet of things

  • There are not sufficient mechanisms to identify, report, and remove false information from online systems

  • With fragmented sources of trust the overall cost of verification has increased

  • Current data exchange systems are centralized, which causes problems such as loss of data origin and threats to data security

  • Adequate reputation systems require massive data sets, however fragmentation of data in current systems does not make this possible

  • Todays data management systems are monopolizing user data while failing to compile useful and accessible portfolios of data for external use

  • Without a central authority it is difficult to form trust in collaborative systems

  • It is becoming more important to provide high levels of transparency when managing charity donations

  • Due to fragmentation of databases, data which is not monopolized loses out on trading potential and can often not be authenticated and used

  • New equity management models such as crowdfunding find it hard to build trust due to lack of transparency

• Ontology’s Ethos

  • Ontology has architected a distributed trust system

  • Incorporates multiple trust types in an integrated protocol system with various blockchains and databases

  • A distributed trust system that is cross-chain, cross-industry, cross-system, cross-application, and cross-device

• Vision and Structure

  • Protocol network built with multiple blockchains and systems to support use with all business types

  • Design structure is modularized, pluggable, and easily expandable

  • Users can easily develop distributed services through Ontology without having previous knowledge of distributed networks

 

Ontology Trust Network

• Ontology’s framework technology

  • Fully decentralized ledger system that includes smart contracts and security protocols

  • Provides compatibility support for complex technological systems

  • Provides systems for secure data storage, hardware options for key management, and encrypted data analysis

  • Provides the framework for use of all types of applications

• Decentralized identity verification and multi-factor authentication

  • Multi-factor authentication

    • Ontology’s identity verification system is characteristically decentralized

  • Organizational identity

    • Organizational networks can be established using information such as student IDs for academic institutions or employee IDs for businesses

  • Specialized Identity Verification

    • Entities can create specialized identity verification systems based on industry-specific or legal requirements

• Delivering a decentralized trust system

  • Community trust

  • Statement

    • Medium of community trust

  • Trust anchor

    • Entity that has been entrusted to conduct identity verification

  • Trust transfer

    • Conducted by submitting information required and receiving a statement

• Distributed ledger technology

  • Entity registration and authorization

  • Procedure protocols

    • Cross-chain entities, cross-system privacy, and cross-chain protocols

  • Data attestation

    • Stores data and records its use

  • Data directory

  • Data exchange

  • Smart contracts

• Distributed data exchange

  • Peer-to-peer data transmission

  • Data authorization mechanisms

  • Copyright protection of data

  • Distributed data storage

• Other key functions and modules

  • Ontology crypto package

    • Provides a series of cryptography and data security module support in areas including multi-factor entity authentication, distributed data exchange, and distributed procedure protocols

  • Ontology Marketplace

    • Distributed data exchange complete with data sets, algorithms, and models

  • GlobalDB

    • Distributed key-value storage

  • HydraDAO

    • Data prediction and interaction module integrating smart contracts, cross-chain, and cross-data source collaboration

  • Ortorand Consensus Engine

    • New consensus engine

    • Near-infinite scalability and low hash rate

 

Ontology’s Ecosystem and Applicable Scenarios

• Multi-source identity system for people

  • Multi-source identity authentication

  • Data tracking

  • Comprehensive personal profile

• Multi-source identity system for objects

  • Object authentication cycle

    • Registering digital DIDs onto Ontology

    • Verifying objects with digital signatures and endorsement verification

    • Tracking the use and any other related data

  • Object data recording authentication

• Distributed data exchange

  • Data discovery

    • Comprehensive portfolio of data is already compiled and can be accessed with the user ID

  • Data exchange

• Distributed collaborative systems

  • When doctors, hospitals, and patients register their identities onto the blockchain, the blockchain fills in the trust gap between the pharmacy and patient with record of the medicine’s key information

• Distributed equity management

  • Safely circulate data by having the option to include factors such as basic project information, operation status, risk warnings, and records

  • Create a multi-party assessment system to include project operators, investors, cooperative organizations, and upstream and downstream enterprises in which parties provide information on each other

  • Manage a project evaluation system where data can be accessed and assessed by its investors

• Distributed community management

  • New member control

  • Community ranking

  • Public credibility system

  • Content publication control

  • Incentivization design

• Distributed content generation and trade modules

  • Optimized content search

  • Content security guarantee

• Distributed reputation system

  • Credit management

  • Data management

• Decentralized inclusive financial services

  • Ontology helps business and individuals become active managers of their data

  • Financial institutions can also collaborate with Ontology, establishing multi-party security coordination and analysis mechanisms to provide better interest rates and services to small businesses and individuals

• Applicable Scenarios

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Roadmap

 

Team

 

• Jun Li - Founder

  • 16 years in IT and Fintech

  • Worked for top IT firms and major Chinese financial exchanges

• Andy Ji – Chief Strategy Officer

  • Leader of top 500 blockchain groups

  • Deputy general manager of wanda technology group innovation center

  • Director of hyperledger

  • Wrote several books on blockchain

• Ning Hu – Senior Protocol Architect

  • One of the first Semantic web professionals in china

  • Joined project Halo which was initiated by the co-founder of Microsoft

• Honglei Cong – Senior blockchain technology professional

  • Worked for Cisco and EMC

  • Helped build the alliance between UnionPay, JD, CMB, and Wanda Group

  • Worked on hyperledger project

• Junjie Weng – Technical Manager

  • 10 years of work for IBM

  • First developer of Fabric

  • Participated in Onchain DNA

• Min Xiao – Technical director of financial systems

  • Worked at UnionPay

• Wentao Yang – Vice President, Business Development

  • Graduated from Johns Hopkins

  • Worked for Morgan Stanley as Finacial analyst

• FULL TEAM ONLINE

 

Partners & Backers

 

Articles

 

https://themerkle.com/ontology-a-new-public-chain-infrastructure/

 

http://markets.businessinsider.com/news/stocks/blockchain-public-platform-ontology-network-officially-launched-in-new-york-1010407496

 

https://www.techbullion.com/ontology-network-launched-in-new-york/

 

https://neonewstoday.com/development/onchain-announce-ontology-a-distributed-trust-network-on-neocontract/

 

Videos

 

https://www.youtube.com/watch?v=rMJzHVDzyPg

 

https://www.youtube.com/watch?v=KenT8ExBqRk

 

https://www.youtube.com/watch?v=6X4JXHXyCJ4

 

https://www.youtube.com/watch?v=qWKR57xBP-E

 

https://www.youtube.com/watch?v=QAiW1VbDJZI

 

CoinCheckUp

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Conclusion

I would give Ontology a B+ rating. I think the project is amazing and their ideas that they have can really be revolutionary. They mention a lot of important features on their whitepaper that really makes them stand out to a lot of the other projects. One problem that I do have with this project is that they do not have a roadmap posted, which makes it hard to keep the company accountable for when they want to get certain aspects of the project done. I thought the team was pretty good, but the problem is that we don’t have a way to confirm what they say is accurate. I find this project more trust worthy then HPB, and they do have a full team so I think it more believable what they say. The other problem is they don’t have any announced partners or backers of their project. All of these combine to give a B+ rating. There is a lot of missing information that would be needed to make this an A project, but I think they are going down the right path and you need to own a bit of this one until we find out more.