Ontology Is Going To Leave Neo

The signs of the Ontology network being disconnected from the NEO network seem to have begun.

Before we talk about the subject, we first know what Ontology is, which is a project that provides a layer of privacy on the blochain network.

The project was launched in 2017 by Shanghai-based Onchain.

Which was founded by Messrs. Erick Zhang and Da Hongfei, who also founded the Neo Network.

Although the Ontology and NEO projects overlap in terms of overlapping of the Working Group, both are independent and operate separately.

But last summer Ontology started working on its own network while still using the NEO virtual machine, which allows smart contracts to be executed.

The two also signed a memorandum of understanding on future technical and strategic plans in May 2018.

Tell Mr. “Erick Pinos” ecosystem partner for the project Ontology in the United States that despite the commitment of the project Ontology using techniques by NEO , but the organizers of the project Ontology Hrao in laying the foundations necessary to move to another network.

We are making the necessary preparations to integrate with other plocin platforms where work is being developed with etherium and EOS

On the other hand, Mr. Jesse Liu, marketing manager at Ontology, says they are currently assessing the advantages and disadvantages of working with NEO, adding that NEO has become a focus on gaming and is completely different from what we offer.

Otherwise, Ontology would like to get out of the NEO umbrella and follow its own path and follow the decentralizedprojects and applications that abandoned the NEO network.

The most recent is the recent “ Effect.AI” platform, which is one of the most common applications through transactions and users on the NEO network, which moved to EOS last February.

For their part, Da Hongfei, the founding partner of NEO, announced that they have received $ 100 million in financing to develop the network.

The NEO 3.0 update is expected to be launched by 2020.

 

Please note, that is not a bit of financial advice, nor the WhaleToBe team’s view

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