11 May 2018
Ontology is keeping up the pace and frequently offers us new bits and pieces of information to write about. It announced today that security technology giants Baimaohui and SlowMist will join the Ontology’s “Co-Builders” Program. We’ll also have a look at their revamped SubReddit page and ‘dive deeper’ into the latest interview with Founder Li Jun, who was hinting at some interesting announcements!
So, Ontology introduced the community to its new and revamped Reddit Community Page! It looks a lot better to us. They also put out new rules if you want to check it out. We’d love to hear what you are thinking. Leave us a message with your thoughts if you feel like sharing!
Today, May 11th, 2018, Ontology informs us of a cooperation with Baimaohui and SlowMist. These 2 security technologies teams, will help Ontology, and provide security auditing services and assistance with respect to the development of safe blockchain infrastructure.
SlowMist, specialized in ‘blockchain ecosystem security’ has agreed on giving mobile app and smart contract auditing services. The team has worked with an impressive list of partners including Microsoft, Google, Alibaba and more. Baimaohui, on the other hand, has strong ties with the ‘Beijing Huashun Xinan Technology’, and will provide blockchain auditing services.
In a response to this agreement, Ontology Founder Li-Jun stressed the fact that security of the core Ontology infrastructure is of the utmost importance as it will function as blockchain’s underlying infrastructure. You can find more details on their arrangement on the Ontology Medium blog.
When asked by host Dennis Jacobs if there were any new announcements coming up, Li Jun was kind enough to give us a couple of hints as to what kind of partnerships are upcoming. He discussed that fact that there are announcements lined up with different undisclosed partners who will launch their services on the Ontology Network once ‘mainnet’ is live. As we know ‘mainnet’ launch is expected this quarter and Li Jun indicated that they are still on schedule.
In particular, he said that they had an agreement in place with a smart hardware provider for IoT devices and IoT network. He also was keen on sharing that a partner will launch services with respect to Identification Verification System. One cannot help to wonder if he is talking about THEKEY project. THEKEY is one of the most advanced players in the Identity Verification market. He obviously mentioned that they were holding back the announcements for ‘marketing purposes’, so we will have to stay tuned.
Another interesting part of the interview, in my opinion, had to do with their strategic moves with respect to their business development endeavors. The Ontology team clearly understands that they need to actively pursue the main players in the ‘Old Economy’. Basically, he alluded to their recent partnerships with top-notch traditional venture capital firms. They are a key part of the strategy to promote the Ontology Network across a wide variety of sectors and industries.
The discussion also touched the issue of how many tokens would be needed to become a validating node. While Li Jun did not really fix the number, he did refer to a minimum of 10,000 tokens to run a validating node. The other possibility he mentioned was to people creating validating node pools. He cleverly invited Huobi to create a validating pool for their Huobi Exchange customers. Very smart indeed!
In closing, Ontology keeps delivering and they are steadily executing on a sound strategy. After announcements around their proprietary VBFT, their SmartX protocol and just recently the ‘Triones Membership System‘, they are in good shape! Mainnet is just around the corner and we can expect a lot more great things to come!
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