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May 12, 2019, 08:08:02 AM |
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What is Ontology and what awaits for them in the near future?
Onthology (ONT) is a blockchain which have a variety of aspects combined together to form an infrastructure for a peer to peer trust network. Those aspects consists of distributed data, distributed attestation, distributed procedures protocol, distributed data exchange, distributed identity system and many more.
Onthology Sharding?
First of all to understanding what onthology is, one has to understanding what the term sharding means. Sharding is a type of database partitioning that separates very large databases the into smaller, faster, more easily managed parts called data shards. This is excactly what Onthology plans to do with its aim and vision.
The vision and goal of onthology is to build a Trust network with a multitude of blockchains to support varieties of other businesses. In order to attain this they have to meet several criterias and needs which can be easily expandable, pluggable and a flexible design structure.
Now moving on, Onthology has a whole Eco system of its own. They are very determined to build a trust eco system through their decentralized services. By doing so this provides the opportunity for other businesses to develoo their own system of trust.
There are various applicable scenarios for Onthology, this is done so as to help their partners improve and getting them integrated in the blockchain infrastructure. Some of the Scenarios are: Multi source identity system where where users/people can collect multiple identity data from banks, businesses, institutions and so on, thus, allowing them to manage their own identity data collection.
Furthermore, Onthology goes beyond limits when it comes to integration withi its infrastructure. The benefits of this and its apllication goes into varieties of scenarios such as: Finance, payments, insurance, consumer, Media, software development, Medical, Government, Internet, Assets and many manh more.
To learn more, one have to read the whitepaper and have an indepth understanding of this fabulous project and its aim to develop the blockchain community. Above is a very brief summary to help you get a glimps of Onthology and what it is all about.
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