Today, representatives of the leading Chinese blockchain projects, NEO and Ontology, have announced cooperation in creating an open crosschain platform that will become the foundation of the next generation Internet.
Marking a new era to the introduction of blockchains, the partnership will contribute to the accelerated development of the industry. Thanks to the great experience of both parties, the joint work will become an important milestone for the entire blockchain industry.
To fully unlock the capabilities of the protocols, NEO and Ontology will revise their strategic goals for their full interoperability. Thus, NEO will focus on developing protocols and components to support a full range of digital assets, while Ontology will continue to create a future-oriented decentralized identification structure.
The key functions that this revolutionary protocol of interaction includes are listed below:
Friendly approach to participating networks:
Designed specifically for synchronizing the crosschains, the protocol does not imply the release of tokens and the smart contract system, which protects network participants from cannibalization.
Low barrier to entry:
Designed to simplify seamless technical integration, it eliminates the need to develop or modify a protocol level.
The protocol aims to achieve completeness and atomicity of crosschain transactions, with an emphasis on the interaction of smart contracts of crosschains. This will expand the scope of application of decentralized applications.
A complex set of mechanisms built at the technical and operational levels optimizing the security of interaction and crosschain transactions will be implemented.
Speaking about this partnership, Da Hongfei, founder of NEO, CEO and founder of Onchain, said:
This partnership is the next step not only for NEO and Ontology, but also for the future of the blockchain industry, since we are pioneers of a collective approach to solving complex problems.
Creating the basis for a global cross-platform, we look forward to developing solutions for life and using blockchains to work together to solve problems.
Moving to the next stage of development, we hope to further accelerate the growth of the industry, combining the advantages of the two largest Chinese blockchain projects, prompting more projects and companies to join us in creating the next generation Internet. ”
Ontology founder Li Jun also commented on the collaboration:
By creating an open and global crosschain system, NEO and Ontology promote the exchange of values between crosschains, as well as business collaboration to create the basic infrastructure for the next generation Internet.
Constantly strengthening our technologies and community, we strive to accelerate the development of blockchain applications for various industries. Thus, we will provide real cases of application. ”
In the 3rd quarter, White pages will be released concerning the solution for interacting, in the 4th quarter the platform itself will be launched.