Blockchain Platform Ontology Introduces “Trusted,” Decentralized Identifier based P2P Communication Network

Ontology (ONT), a “high-performance” or high-throughput blockchain platform with a market ca of over $510 million according to CoinGecko (at the time of writing), recently announced the launch of “Ontology Mercury,” which is described as a “trusted,” Decentralized Identifier (DID) based peer to peer (P2P) communication framework that will complement the platform’s capabilities that involve Decentralized Identity interoperability and security.

The Ontology Mercury framework will include support for different types of messages such as general messages and verifiable credential-related messages. The framework will also offer support for message routing and security.

Ontology provides a Go software development kit (SDK) and other SDKs (like Java, Objective-C) for more languages​​ will be offered in the future, so that developers can implement various messaging solutions.

The Ontology team recently launched a Decentralized Identity solution, which aims to assist digital currency investors and traders with managing and exchanging assets in a streamlined and secure manner. Ontology’s Decentralized Identity solution allows crypto-asset holders to have “full oversight” over their holdings via their dashboards. 

Li Jun, Founder of Ontology, stated:

“With the goal of enabling the secure communication connection between decentralized IDs, we are delighted to announce further progress with respect to our Decentralized Identity solution suite, specifically the launch of the Ontology Mercury framework. Today’s announcement captures our far-reaching ambition to strengthen the technical prowess of our ONT ID, and broaden the scope of potential associated applications significantly.”

Ontology has teamed up with the developers of the NEAR Protocol in order to speed up the development and deployment of secure “decentralized” identity solutions.

The Ontology team will offer technical support for NEAR’s Decentralized Identifier (DID) from “a regulatory perspective.” The DID solution will have various smart contract features and will go through W3C registration.

Approximately $150 million in ONT tokens were being staked on the Ontology network, as of early August 2020. In June 2020, the Ontology (ONT) team celebrated two years since the launch of the Ontology mainnet, which aims to serve as a “high-performance” enterprise blockchain or distributed ledger technology (DLT) platform. 

There are currently around 70 decentralized applications (dApps) that are now live on the Ontology mainnet.

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