Ontology is a project aimed at enhancing trust, privacy, and security within Web3 by offering decentralized identity and data solutions. It constructs infrastructure for trusted Web3 access, prioritizing user privacy and ensuring that both individuals and enterprises can rely on regulatory-compliant digital identity tools.

The Ontology blockchain operates as a public chain characterized by high speed and low costs. Its design focuses on delivering decentralized identity and data capabilities to Web3, with the objective of boosting transparency, trust, and privacy. To support this, the platform offers users and businesses the flexibility to develop blockchain-based applications tailored to their specific requirements while maintaining regulatory compliance. By implementing an Ethereum Virtual Machine (EVM), Ontology guarantees seamless compatibility with Ethereum, marking the initial phase in developing the Ontology Multi-Virtual Machine and expanding chain interoperability.

Upon its inception, Ontology decided against using the common initial coin offering (ICO) model. Instead, it opted for community distributions and airdrops of its ONT cryptocurrency. This strategy facilitated rapid organic price discovery, cultivated a dedicated community, and helped the project evade later regulatory scrutiny. For instance, during a short window, anyone who registered for the Ontology newsletter received an airdrop of 1,000 free ONT. Shortly after the token was listed on major exchanges such as Binance, each token reached a value of $10. The Ontology MainNet went live on June 30, 2018, and has functioned smoothly since that time.

Li Jun founded Ontology on November 27th, 2017. The project aims to construct infrastructure that enables trusted Web3 access, prioritizing user privacy and ensuring individuals and enterprises can rely on regulatory-compliant digital identity solutions.

Li Jun, a philosopher with technical expertise, chose the name Ontology for two reasons: 1) In philosophy, ontology is the branch examining concepts like existence, being, becoming, and reality. 2) In the Semantic Web, Ontology is a fundamental protocol. Across both technological and philosophical domains, the term signifies the basic infrastructure of things, aligning with the vision to create a decentralized, credit-based infrastructure.

Ontology distinguishes itself by supporting diverse real-world applications and permitting enterprises to construct their own blockchains atop its infrastructure. This approach grants organizations greater flexibility to tailor chains to their specific requirements.

Interoperability is central to the Ontology chain’s design. The network currently supports three virtual machines: Ontology EVM, NeoVM, and WasmVM. This setup lowers development barriers by offering a familiar environment for builders and serves as the foundational infrastructure for straightforward cross-chain Web3 development.

Beyond infrastructure, Ontology addresses Web3 challenges by focusing on user experience. The ONTO Wallet provides users with cross-chain access, effectively placing Web3 capabilities at their fingertips. This is paired with ONT ID, which empowers users to maintain control over their identity and data. Additionally, features such as ONT Login streamline registration and password management, equipping Ontology with the tools necessary to offer seamless access to the next evolution of the Internet.

Ontology features a maximum supply of 1,000,000,000 ONT, with almost 80% of these coins currently in circulation.

When the network launched, the token allocation was distributed as follows: 15% to the core team, 10% to the NEO council, 28% to institutional partners, 10% to the technical community, and 25% toward ecosystem development.

These allocations underwent a rigorous screening process and were released according to various unlocking schedules that spanned two years, concluding at the end of October 2020.

Because the Ontology network operates as a fully decentralized system, it offers strong protection against hacking attempts. To successfully compromise the network, an attacker would need to influence more than half of the connected devices.

Major global exchanges, including Binance and OKX, list and support both ONT and ONG.