Ontology Network recently launched a $10 million fund, to enhance the development, adoption, and education of decentralized identity (DID) technologies; The partnership with Portal, backed by Coinbase, OKX, and Arrington Capital, signifies the marriage of two pioneering protocols with a shared vision of true financial self-sovereignty and ownership of one’s assets and online identity.

“Ontology is excited about the collaboration with Portal DeFi and the opportunities it presents. Our focus is on bringing our communities together to explore new possibilities. We look forward to seeing the innovative solutions this partnership will generate.” — Raindy Lu, Head of Marketing

Looking forward, Ontology plans to integrate its native chain and assets as well as the aforementioned Ontology EVM. This will give the Portal community access to Ontology tokens and dApps, fostering collaboration and introducing them to Ontology’s cutting-edge DID and Reputation protocols.

“This integration with Ontology aligns with our mission of bringing users sovereignty, privacy, and security to their lives online. The vision of Web3 is built upon the freedom to own one’s data, identity, and finances, and we are achieving this through innovative partnerships with top tier infrastructure like Ontology,” — Dr. Chandra Duggirala, CEO & Co-Founder of Portal.

Ontology is a high-performance, open source blockchain specializing in digital identity and data. Ontology’s unique infrastructure supports robust cross-chain collaboration and Layer 2 scalability, offering businesses the flexibility to design a blockchain that suits their needs.

With a suite of decentralized identity and data sharing protocols to enhance speed, security, and trust, Ontology’s features include ONT ID, a mobile digital ID application and DID used throughout the ecosystem, and DDXF, a decentralized data exchange, and collaboration framework.

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Through Alchemy Pay’s plugin, dApps and platforms on Ontology can seamlessly and rapidly integrate. It is enabling users worldwide to directly buy and sell cryptocurrencies using their preferred local fiat payment methods.

In addition, both the Ontology ($ONT) and Ontology Gas ($ONG) tokens have already been included in Alchemy Pay’s ramp, enabling users to directly acquire them using fiat payments. These tokens play a crucial role in supporting Ontology’s scalability and facilitating fast, high-volume, and cost-effective transactions.

Alchemy Pay’s payment gateway supports Visa and MasterCard payments in 173 countries and Apple Pay. It also includes Google Pay, various domestic transfers, and popular mobile wallets in emerging markets. With its robust support for more than 300 local payment channels, the gateway ensures high conversion rates, low fees, and fast and simple KYC procedures. This makes buying and selling cryptocurrencies with domestic currencies as effortless as any other regular online payment. The ramp solution can be implemented across different platforms, including DeFi protocols, CEXs, NFT marketplaces, and wallets.

Leveraging its extensive expertise in decentralized identity and data solutions, Ontology drives the success of essential solutions, projects, and organizations in the Web3 infrastructure using its high-performance public blockchain. The Ontology consensus mechanism ensures rapid transaction confirmation within one second and handles an impressive volume of over 5,000 transactions per second.

The Ontology MainNet guarantees exceptional reliability and consistency for the 300+ dApps currently supported on its public blockchain. Through this partnership, the integration of Alchemy Pay’s ramp into Ontology’s ecosystem will significantly enhance its functionality, attract a larger user base worldwide, and further strengthen its ecosystem.

ABOUT Ontology

The Ontology blockchain is a high-speed, low-cost public blockchain bringing decentralized identity and data solutions to Web3. Increasing privacy, transparency, and trust, Ontology is designed to give users and enterprises the flexibility to build blockchain-based solutions that suit their needs.

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ABOUT Alchemy Pay

Alchemy Pay supports fiat-crypto purchases from 173 countries, using methods such as Visa, Mastercard, regional mobile wallets, and domestic transfers. Comprehensive coverage in Europe, Northern & Latin America, and Southeast Asia, with a focus on access to emerging markets.

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The future trend of Web3 is to provide fast, efficient, and cost-effective solutions through smooth interaction between multiple public chains. Ontology EVM has broken down the barrier between Ethereum and the Ontology chain. Goshen aims to present an improved alternative to the expensive and slow transactions of Ethereum while maintaining high levels of security.

Goshen’s optimistic rollup has an exquisite design that is simpler and more compatible than other existing L2 projects. The project has modular development components and balances performance and security to deliver a better solution for users.

Its unique RISC-V fraud-proof system is used to support on-chain computing and collaborative interaction challenges, ensuring the security of both architecture and implementation and bringing high overall security.

Full compatibility with Ethereum

Goshen’s full compatibility with Ethereum is not the only reason for its convenience in deploying and reusing toolchains within the Ethereum ecosystem. Its partnership with Ontology, which shares the same values on decentralized identity and reputation, also contributes to a smoother user experience.

Moreover, Goshen’s smart contracts will be fully open source for developers in April, demonstrating both Goshen and Ontology’s commitment to transparency and collaboration within the developer community. Ontology’s own open-source code also reinforces this partnership and shared vision.

With five years plus technology precipitation and in-depth research on L2, Ontology recognized Goshen’s L2 framework design and its technical compatibility. At the same time, Ontology’s EVM, along with its full set of OWN infrastructure solutions, ONT ID framework, and product suites, which are compatible and interoperable with Ethereum, will bring additional value to Goshen. Additionally, Ontology has a mature global community and users in DeFi, NFT, wallets, and other areas. It will help Goshen to extend its testing to a larger scale.

In the future, ONT will be introduced into Goshen’s governance. Running for a role in the decentralized packaging network and getting a share of the L2 network fees. The collaboration between Ontology and Goshen is expected to offer improved outcomes for users and developers in the Web3 world. It will create a better future for blockchain technology.

To celebrate the collaboration, Ontology is going to launch various campaigns together with Goshen, covering developers, users, and community members with their own special NFT incentives. Detailed rules for these campaigns will be announced soon separately.

The collaboration between Ontology and Goshen is expected to bring great improvements to the Web3 world. It will also provide better solutions for users and developers.

ABOUT Ontology

Ontology is a project designed to bring trust, privacy, and security to Web3 through decentralized identity and data solutions. It is building the infrastructure to provide trusted access to Web3. It also allows individuals and enterprises to rest assured through regulatory-compliant digital identity solutions.

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ABOUT Goshen Network

Goshen networks a fully Ethereum-equivalent optimistic roll-up protocol that utilizes a RISC-V machine to support on-chain computing and provides a trustless Layer 2 environment to perform transactions.

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Uquid, a leading Web3 e-commerce platform, offers a wide range of products and services including vouchers, digital cards, game keys, etc as well as physical products and NFTs. Known for its user-friendly interface and its commitment to providing users with the best shopping experiences, Uquid has taken its services to the next level with the addition of Ontology.

Ontology, a high-performance blockchain platform, provides a comprehensive suite of infrastructure services for DeFi applications and decentralized businesses. The platform design is flexible, scalable, and secure, making it ideal for various use cases, including digital payments. With Ontology, users can enjoy fast and secure transactions without the risks associated with traditional payment methods.

Partnership Highlights

This partnership allows users to make purchases on the Uquid platform using the ONT token. This new payment method is available immediately, providing users with a secure, efficient, and convenient way to make transactions. The ONT token is a widely used and accepted digital asset in the DeFi community, making it a perfect fit for this partnership.

Through this collaboration, users can enjoy fast, secure, and efficient transactions. Still having access to more than 120M physical and digital products in 180 different countries and territories. This partnership represents a significant step forward in the evolution of DeFi and demonstrates the commitment of both companies to providing users with the best possible experiences.

ABOUT Ontology Network

Ontology is building the infrastructure and tools to provide trusted access to Web3. Allows individuals and enterprises to rest assured that through regulatory-compliant digital identity solutions, users and their privacy come first.

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ABOUT Uquid

Uquid pioneer in applying DeFi and Web 3.0 to E-commerce that aims to bring the best Shop to Earn experience to customers with verified merchants, exclusive deals, cashback, and Payin3 with Crypto.

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