Excessive-Efficiency Blockchain Platform Ontology Companions NEAR Protocol to Pace Up Improvement of “Decentralized” Id Options

Ontology (ONT), a “high-performance” or high-throughput blockchain platform for enterprises, has teamed up with the builders of the NEAR Protocol to be able to velocity up the event and deployment of safe “decentralized” id options.

The Ontology workforce will provide technical help for NEAR’s Decentralized Identifier (DID) from “a regulatory perspective.” The DID resolution could have numerous good contract options and can undergo W3C registration.

NEAR is a “decentralized” utility (dApp) platform that’s “safe sufficient” to deal with high-value belongings similar to cash or id and “performant sufficient” to make them sensible for each day use. The NEAR undertaking goals to place the facility of the Open Internet into everybody’s palms or attain.

NEAR has acquired $21.6 million in funding from big VC agency Andreessen Horowitz, Electrical Capital, and different main traders. The platform’s mainnet has additionally been launched

Erick Pinos, Ontology Americas Ecosystem Lead, said:

“Teaming up with NEAR broadens our remit significantly relating to delivering … decentralized id protocols…. We share widespread goals when it comes to broadening the accessibility of enterprise-grade blockchain functions and decentralized id options and sit up for working collectively.”

Ontology goals to proceed to concentrate on providing quick, user-friendly, intuitive options with a singular infrastructure that may deal with or facilitate cross-chain collaboration. Ontology gives software program instruments that enable companies or firm house owners to develop their very own blockchain-enabled options in a safe method.

Erik Trautman, CEO at NEAR Basis, remarked:

“We’re … excited to leverage the technical acumen of the Ontology workforce, notably in relation to their … ONT ID 2.0, a … decentralized id resolution designed for streamlined cross-chain interoperability. Following our profitable MainNet launch, we’re eager to strengthen our accomplice community, and sit up for extending the facility of Ontology’s options to our rising buyer base.”

In June 2020, blockchain infrastructure developer Bison Trails added help for the NEAR protocol, a sharded proof of stake (PoS) blockchain and app improvement platform that may energy open finance options.

As reported not too long ago, $150 million in ONT tokens are being staked on Ontology. There are additionally greater than 70 decentralized functions (dApps) being supported by the blockchain improvement platform.

Binance, the world’s largest crypto change, has reportedly been “paying nice consideration” to Ontology’s blockchain governance and financial mannequin. It would take into account changing into a node on the chain.