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NEO · 17w

Sorry, NEO: Ontology Starts Seeing Other Blockchains ONT focus on EOS ETH SWAPS

Leading figures at Ontology (ONT) are seriously contemplating a future outside of the NEO ecosystem.

Erick Pinos, Ontology’s U.S. Ecosystem Partner, told Crypto Briefing that the project, although currently committed to using NEO technology, has begun laying the foundations for integrations elsewhere.

“We’re preparing on a technical level to integrate with them [blockchain platforms]”, Pinos said. One aspect currently under development is cross-chain swaps, enabling assets to move across blockchains. Ontology is already developing swaps with Ethereum (ETH) and EOS, according to Pinos.

Ontology is designed to provide a layer of privacy on top of a public ledger. It was launched in late 2017 by Onchain, a Shanghai-based R&D company founded by Da Hongfei and Erick Zhang, the creators of the NEO project.

Despite significant team overlap, Ontology and NEO remain independent of one another. After beginning as a NEP-5 token, Ontology moved onto its own blockchain last summer.

But the project still uses the NEO virtual machine, which allows it to execute smart contracts. Despite having separate ledgers, the two projects have worked closely together, signing an “MOU Concerning Strategy and Technology” in May 2018 to collaborate on building and promoting a NEO smart contract ecosystem.

An Ontology spokesperson defined the relationship between the two as “strategic technology partners” at the time of the mainnet, as reported by CoinDesk.

Ontology is still committed to collaborating with NEO. “NEO is one of the first projects we worked with,” Pinos emphasised, “and we [Ontology] continue to support them.”

But Pinos also raised the possibility that Ontology could also go elsewhere: “If NEO doesn’t succeed we can integrate with other platforms.” They’ve considered EOS, which according to Pinos, “made sense” to collaborate with. Whether this means they would stop using NEO’s tech is still not certain.


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