NEO is beginning to feature in the news a lot throughout 2018. After an incredible year for NEO in 2017, we are beginning to see a number of NEO based projects. These projects are known as NEP5 tokens and can only be described as a the rise of NEP5 tokens this year. Some of these particular tokens have proven incredibly profitable for investors, and the NEO smart economy is looking as though it will be play a very significant role in the future of blockchain technology.
Ontology is one the most exciting NEP5 projects so far and is not only the most profitable NEP5 token to date… it is one of the most profitable projects of 2018 following their launch. Ontology is however only set to be an NEP5 toke for so long as they plain to laugh their own blockchain in which there will be a token swap.
In an exciting update between NEO and Ontology means we could see them working together going forward.
NEO & Ontology partnership
In actual fact this is not specifically a partnership nor is at a merger… at least not at this moment in time. The news is that both NEO and Ontology have recently signed a ‘Memorandum of Understanding’. Whilst this is a formal agreement that can be used to establish a formal partnership, it is not a legally binding contract.
This does signal that both NEO and Ontology are very serious about working together with blockchain projects going forward. This could even end up with an official partnership between the two at some point in the future.
NEO is dedicated to realizing a distributed network that serves the smart economy. Ontology is a distributed trust network that focuses on digital identity, data exchange and other trust collaboration scenarios. Both NEO and Ontology share a common technical understanding and vision, and both wish to promote blockchain technology and its applications.
This Memorandum establishes that both parties share common interests and knowledge, and will therefore support each other going forward. While it not an official partnership, it does signify that the two parties have serious intent towards working together, something that could eventually lead to an official partnership between them.
NEO and Ontology together provide compliance-ready, regulatable protocols to global developers. These protocols are supported by NeoVM with exceptional finality and a smart contract system with a robust and stable infrastructure-level network.
NEO and Ontology signed MOU concerning strategy and technology.https://t.co/wfCoUtojDG— NEO Smart Economy (@NEO_Blockchain) May 14, 2018
The two parties have agreed to co-operate in a number of areas:
- NEO brings a mature and complete smart contract platform as well as distributed network infrastructure services to the table. Ontology will provide digital identity, data exchange services and other customized services.
- Smart Contracts: NEO and Ontology will work together to build a smart contract ecosystem, fully support the development and adoption of NeoVM and NeoContract, and collaborate on developing smart contract open standards.
- Data Integration: Both parties will provide standardized technology interfaces (APIs, SDKs, etc.), and share and communicate development achievements and research results.
- Cross-chain: Both parties will push forward with cross-chain research, with the eventual goal of producing integrable mainnets.
Will we see other partnerships begin to form in the future as blockchain companies look to work together on a bigger goal? Only time will tell but this is very exciting new for both the NEO and Ontology communities alike.