Ontology Trust Network (OTN)
- Onchain (http://www.onchain.com/en-us/) – Chinese company, founded 2014, parent company behind NEO
- Consider it a compliment to NEO (NOT a NEO killer); for corporations that want a private/security blockchain
What is NeoX:
- Protocol from original NEO white paper, implements cross-chain interoperability, consisting of two parts assets and transaction protocol (smart contracts)
- Assets – exchanging assets across different chains (atomic swaps amongst those in/on NEO platform)
- Transaction protocol – NeoX makes it possible for cross-chain smart contracts where a smart contract can perform different parts on mult chains, all succeed or fail as a whole
- Ontology is the fiber/glue/web/network that will make NeoX a reality
- NeoX will bridge private consortium (DNA of Onchain that will be sold to enterprises) of Onchain world and the public world of NEO
- Inside Onchain, has DNA; bedrock of Onchain. Will sale DNA to enterprise in china etc.
What is OTN?
- “Built to be the foundational infrastructure of a trust ecosystem”
- Distributed ledger network
- Basically will aid in connecting all chains on NEO network and more
- Provides trust foundation for businesses (peace of mind for businesses)
- Consider it a framework with mutltiple layers/functions within OTN
- NEO will have direct plug into OTN, such that will have identity verification
- Can be considered to strengthen/empower NEO as it connects it to potential enterprises
- Lots of talks for giant consortiums forming ie. Microsoft and Linux, R3 and hyperledger etc.
- Many say these groups will want a public block chain
- ONT and NEO have the assets, identity and contracts (of NEO) to offer + now the privacy for businesses of ONT
- Otorand Consensus Engine/Decentralized Protocol = its UNFORKABLE!! We all know forking is indirectly inflation
- Snapshot March 1. Will Airdrop 0.2 ONT for every 1 NEO (you get 0.1 upfront and have to wait for other 0.1). Make sure your NEO is in compatible wallet.
- For more info on the airdrop, visit NEO’s blog at https://neo.org/blog/details/3061