In-depth Summary of Ontology

Overview:
Ontology is a smart-contract platform from Onchain — a Chinese blockchain company behind NEO. Some of the co-founders of Onchain work on NEO, some on Ontology. In fact, ONT is a public version of Onchain’s main product — DNA (Distributed Network Architecture), which they have been developing since 2014. DNA itself rebranded as Ontology Zero and became a sub project of Ontology, which works on business frameworks that use the protocols of Ontology. The two projects are now closely interlinked.
👨👩👦👦 While DNA was focused on the enterprises, Ontology also opened up for the mass adoption. With remarkable results already. OEP-6 (a protocol for the wallets interaction with dapps), O3 mobile wallet and chrome-extension Cyano — are all developed by the community in short times with the close support from Ontology, which positively speaks about both community interest in the project and about the work with the community from Ontology itself.
🌿As the name Ontology literally implies, the project is not a single blockchain, but it is rather an ecosystem of interconnected blockchains. It is possible to deploy a customizable private/public sidechains with their own consensus algorithms, which will communicate with each other through interoperability with the main chain.
📤Also, Ontology already provides several ready-to-use decentralized modules (like identity verification), which developers can immediately use for building dapps.
✔️Such flexibility, along with the help in its implementation from the main team, makes Ontology highly adaptive to various business needs and various legal systems.
🏁Currently, Ontology has 8k TPS on the test net. The team has plans and ideas on how to increase this figure significantly in the future (sharding, side chains, etc.).
👤In future Ontology will have private transactions like Zcash (by claims the technology is already done, but not implemented).
🎲Consensus:

VBFT (Verifiable Random Function + Byzantine Fault Tolerance). There is a set of 49 candidate nodes (planned initially, the number will grow later). To increase the efficiency of decision making, of all 49 nods VBFT randomly chooses a set of 7 consensus/ledger nodes that will propose and verify block for this round. In the next round there will be randomly selected a different set of nodes.
🗽VBFT consensus can support thousands of nodes. Everyone can participate in the consensus even with the little amounts of ONT through stake pooling that will be provided by the official Ontology client.
🔐Token:
ONT is used for staking. It requires at least 100.000 ONT to have a node. Currently (August 2018) there are 33 nodes from six continents with the total staked amount of 14,388,807 ONT. The plan is to reach 49 nodes.
✌️Similarly to NEO, Ontology uses the two-token system.
To pay transaction fees in the network users must use ONG — Ontology Gas.
A user can get ONG through exchanges or by staking ONT, or through ONG unbinding curve, which gives ONG to the ONT holders.

💵Therefore, ONT generates rewards=cash flow to its holders.
👨💼Partners and Investors:
The main partners are Onchain and Neo Smart Economy.
The most famous investors are Sequoia Capita and Hashed.
Some of the famous ONT node-holders: Hashed, Fenbushi Capital, Huobi Mining Pool, CertiK.

🧢Team:
Team members have educational backgrounds in Tsinghua University, Peking University, and Chinese Academy of Sciences, also have experience in organizations such as IBM, Cisco, EMC, and other large financial institutions, big data companies, and internet companies.
👨🏻💻Currently, there are sixty full-time developers and around thirty community developers.
📈Speculations:
Some consider Ontology a new “Ethereum of China” instead of NEO.
📉Concerns:
The correct supply of ONT is 54.75% or 547.500.000 out of 1.000.000.000 ONT (184.000.000 by the wrong version of CMC), which makes the mcap of ONT already similar to the mcap of NEO (and even exceeds it sometimes). Additional to CMC noted tokens are unlocked but not traded yet.
By @IvnKir & @trueinsider
Huge thanks to the Ontology community manager @CryptoPatrick27!
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