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Chinese Blockchain Titans NEO And Ontology Developing Interoperability Protocol

NEO and Ontology have announced a partnership to facilitate interoperability between the two Chinese blockchain giants. The collaboration underpins the commitment that founder Da Hongfei has made to driving NEO 3.0 forward, with the goal of becoming the top blockchain platform in the world in 2020.

The purpose of the partnership, according to a NEO spokesperson, is to build an open cross-chain platform and establish the foundation for the next-generation Internet. NEO will continue to build towards its Smart Economy vision, and Ontology will vie with competitors on other platforms to build a cohesive decentralized identity framework.

Similar to how IOS apps can interact with Android apps or how Alipay users can do business with a PayPal user, our system will enable dApp developers and enterprise builders to access a greater network of potential growth opportunities.Da Hongfei, founder of NEO

The fusion of the two projects, details of which will be announced in a white paper in Q3 of 2019, represents one of the largest interoperability alliances thus far in the blockchain arena. NEO remains a top 20 token on CoinMarketCap despite a quiet couple of quarters in late 2018 and early 2019, while Ontology recently overhauled Crypto.com Chain to reclaim its position in the top 25.

Both projects have committed fully to focusing on the new interoperability protocol, with the NEO spokesperson describing the partnership as a “recalibrat[ion] of their respective strategic focuses”.

The roadmap that will be unveiled in the new white paper calls for deployment of the protocol in Q4 of 2019 – an aggressive timeline that may depend on the level of cooperation already established behind the scenes.

Full Circle

The companies are already deeply connected: they are cousins in the Onchain family, a VC-funded research and development enterprise that operates separately from its brethren, but that shares some DNA: for example, NEO ...

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