Ontology MainNet’s Third Anniversary

Published on: 01.07.2021

Ontology celebrates its MainNet’s Third Anniversary and reflects on the mission to bring decentralized identity and data solutions to the world.

Over the past three years, Ontology has gone from strength to strength, growing into a unique infrastructure that supports our vision for decentralized identity and data.

A recent study on cybersecurity statistics revealed that data breaches exposed 36 billion records in the first half of 2020, alone. Coupled with heightened online activity and the growing virtual economy, these findings reflect the strong need for effective data protection and digital identity protocols in today’s digital age. Driven by a desire to address this need, Ontology has spent the last three years developing a host of products and protocols to support its vision of a safe and secure decentralized ecosystem. These include ONT ID, a decentralized identity framework that helps users manage their own data and enables blockchain-based, multi-dimensional authentication provided by global verifiers. They were proud to see use-case with Mercedes Benz-maker, Daimler, was highlighted earlier this year in “Forbes’s 2021 Top 50 Blockchain Things To Watch”. Decentralized identity is also a key feature of Wing Finance and our DeFi suite, playing a key role in OScore, our decentralized credit scoring system.

The next stage of development sees big changes coming to the broader Ontology ecosystem, starting with the development of an Ethereum Virtual Machine, which will connect trusted decentralized identity solutions with millions of developers and users in the EVM-based blockchain ecosystem upon completion, later this year.

Commenting on the anniversary, Li Jun, founder of Ontology said:

Spurred on by Covid-19, the rapid expansion of the digital economy has made the protection of users’ digital identities and data all the more important. Rising to meet increased demand, Ontology has grown and developed into an interoperable, open blockchain, offering multiple privacy and digital identity focused products over the past three years. As we look to the future, we are excited to see our development, from new partnerships to technical advancements, as well as growth in our valued community.