Ontology expands cross-chain functionality partnering with Gravity
We are pleased to announce a new strategic partnership between Ontology and Gravity, interchain and oracle solution in the Waves Ecosystem. Ontology will become one of the target chains of the inter-chain protocol, among the first integrations with Ethereum and Waves, allowing data from the Ontology network to be used seamlessly in other chains and vice versa. In addition, with the plan to develop cross-chain swaps on top of the Gravity protocol, it will eventually become possible to trade ONT and ONG on a number of new exchanges.
Ontology, a high performance, open-source blockchain specializing in digital identity and data, becomes a partner of Gravity to leverage its cross-chain communication capabilities. This partnership is an important step for enabling the extension of Ontology protocol onto multiple blockchains and the overall acceleration in the development and adoption of the cross-chain technology.
So far, a major barrier to the mass spreading of blockchain technology has been the fragmentation of ecosystems and the apparent lack of full-fledged solutions for seamless communication between entities that operate in different blockchains. We believe that the more such integrations exist and the easier it is for users to utilize multiple blockchains in a consistent manner, the stronger the network effect for all blockchain ecosystems.
Mutual benefits
Below are the proposed ways of integration:
- $ONT and $ONG will become available on other blockchain protocols announced as target chains of the Gravity network, for instance Ethereum and Waves. This will allow these two tokens to be listed on exchanges such as Waves.Exchange.
- Gravity Network data providers will be able to host nodes with deposits locked in the Ontology network. This will increase the demand for tokens and solidify Ontology’s status as an interoperability pioneer.
- Ontology and Waves dApps devs will be capable of using Gravity oracles for integration into their dApps. These oracles will be providing data from both external APIs and other chains.
- Developers from both ecosystems will be able to create modern cross-chain dApps which will work in both chains (capable of being expanded to other chains with Gravity) via wallets and browser extensions which a user prefers most.
The scope of collaboration between Waves and Ontology is not limited to the above list of integrations: these are only those where research and prototyping is already being carried out. We believe that the partnership of the Ontology ecosystem with Gravity will lead to a significant advancement in the expansion of cross-chain products and services.
About Ontology
Ontology is a high performance, open-source blockchain specializing in digital identity and data. Ontology’s unique infrastructure supports robust cross-chain collaboration and Layer 2 scalability, offering businesses the flexibility to design a blockchain that suits their needs. With a suite of decentralized identity and data sharing protocols to enhance speed, security, and trust, Ontology’s features include ONT ID, a mobile digital ID application and DID used throughout the ecosystem, and DDXF, a decentralized data exchange, and collaboration framework.
About Gravity
Gravity is a decentralized cross-chain and oracle network based on a truly blockchain-agnostic protocol for communication between blockchains and with the outside world, working with the native token economies.
Gravity provides multi-purpose cross-chain interaction without introducing a native token. The true blockchain agnostic no-token approach creates a more inclusive, open ecosystem, while addressing future scaling/stability issues.
