An Open Letter to the Ontology Community — Ontology MainNet “Ontology 1.0” has Officially Launched!

Dear all,

June 30th is a day Ontology fans have been long awaiting. This day has filled us with enthusiasm, anticipation, some stress, and a lot of motivation.

We welcome this day with joy and can finally announce with pride: Ontology MainNet “Ontology 1.0” has officially launched!

We would like to take this opportunity to thank everyone who have been supporting Ontology throughout. Your love and support have been helping us move forward and continue to make breakthroughs.

A special thanks to the 33 Ontology Triones consensus candidates from across six continents — your participation is making Ontology’s consensus a thriving mechanism.

Ontology 1.0 Introduction

Ontology 1.0 provides new high-performance public blockchains that include a series of complete distributed ledgers and smart contract systems, and at the same time supports public chain customization and chain network collaboration, while continuously providing common modules in various distributed applications.

Public chain basic services, high-performance customisable blockchain framework, and protocol groups are the three key components of Ontology’s infrastructure. Ontology 1.0 includes a decentralised identity authentication protocol, distributed data management protocol, and credit score protocol. At the application level, the integrated client product (ONTO), trust search engine, and distributed data exchange framework will provide strong technical support.

Ontology 1.0 Features

1. First decentralized smart contract execution platform with identity;

2. First version of the core chain reached over 5,000 tps without performance enhancements (enhancements will be added in the future);

3. Regarding security, there is continued deep cooperation with NCC, Baimaohui, and SlowMist to ensure the security of Ontology’s nodes;

4. Complete smart contract support;

5. Tools package for smart contract development;

6. Competition for Ontology consensus nodes has been tense. The MainNet launch, on-chain business development, and node inputs are closely connected and have been receiving international support.

Smart contract tool SmartX, VBFT consensus algorithm, and the Triones Consensus Group

Ontology has helped pioneer the VBFT algorithm, a new consensus algorithm which integrates PoS, verifiable random function (VRF), and BFT. It can be closely combined with the Ontology governance model to greatly improve the performance and usability of public chain networks.

The smart contract tool SmartX is a one-stop IDE that can be used to compile, deploy, and invoke smart contracts. It provides a range of smart contract templates and a powerful online editor. Smart contract users can use it as a reference, use its contract templates, or commission community developers to customize contracts.

Triones Consensus Group is the first generation of Ontology’s public chain governance model. Its distributed, high-performance extended support, and incentive scheme are innovative, and promote the establishment of an open-source collaborative distributed trust ecosystem. In the meantime, the Triones seed node recruitment plan was released by Ontology at the beginning of June. Besides the basic ONG consumption in the whole chain network system, an additional 1% ONG per year will be allocated to nodes from community incentives.

Next steps

1. We will launch ONTO in July, which supports autonomous and controllable digital identity, MainNet digital assets management, a one-stop MainNet token swap, and more.

2. We will launch SmartX 2.0 and the latest smart contract development guidelines to provide better dApp development support for developers.

Special acknowledgements

Special thanks for the strong support from Ontology Co-Builder Plan members which include Sequoia China, Danhua Capital, Matrix Partners China, and Zhen Fund, as well as support from Fenbushi Capital, Frees Fund, and TGL etc.

Special thanks to Ontology Advisors Group (OAG) members: Shoucheng Zhang, Bin Zhang, Xiangyang Yang, Andy Lim, Feng Li, Junjun Sun, and other experts.

Special thanks to Ontology partners: DAD, Contentos, COT, CarBlock, Points, NAGA, and others.

Special thanks to Jumple, Hashed, Infinity Stones, ONEROOT, Martview, Feel Free, Sunstar, FUM, Collider, Ontology Universe, BiNode, ZEECHAIN, ClouDesk, HZF Web, ASOS, Lixar, Cocos, ONTLabo, Trio Bravo, The Dutch Triad, FreeS, ont-huobipool, Peers, Vizion, J Lab-ONTTOP, gf.network, Crypto Galaxy, and other teams who have helped build blockchain technology and networks.

Special thanks to our community admins who continue to devote time and energy to the project and community.

The future is coming. Let’s work to distribute it more evenly.

Welcome to Ontology 1.0,

The Ontology Team