NEO and ONT are the cornerstones of the Smart Economy.
It was always known NEO and ONT would be complimentary to each other and work together to form the foundations of the smart economy. It was the uneducated individuals that started spewing ridiculous uneducated FUD and assuming ONT was going to be a competitor or NEO. ONT is the bridge between existing businesses/government to the blockchain (Focusing in China).
Ontology held no ICO – the NEO Council airdropped 0.2 ONT per 1 NEO for each NEO holder.
Many people were worried about Ontology, as ONT was perceived as a direct competitor to NEO. Over the months it became clear however that both chains have their own target groups and use cases and that ONT is really a complementary part of the NEO ecosystem.
If it wasn’t for NEO, ONT would not exist.
NEO is the foundation for ONT because it coincides with NEOs eco system. That’s the part many fail to realize. It’s just one project among many others that works with NEOs eco system. “ECOSYSTEM” is the main goal not just one project.
Ontology is the infrastructure layer to compliment NEO. NEO was always intended to be a fundraising and economic ecosystem platform.
Ontology is a business infrastructure platform to help on-board companies into a secure blockchain environment. In that way, they assist companies to join the ecosystem and are working to have them function interoperable at the highest level.
ONT is a major backbone blockchain forming the smart economy.
Ontology is publicly going to do what Onchain was privately doing. However, they figured out while building only private blockchains, that the centralized way would be better.
They are building a hybrid both decentralized for fixed data (among other reasons) and centralized network protocol for compliance (among other reasons) that will be linking the real-world to the digital blockchain world.
They will have many blockchains in their network. They are building the architectural protocol for that real-world link to take place whereby current companies like Facebook & Amazon will have a template to simply plugin.
They will have their own open source ecosystem to build on top of. If these real world institutions want to create digital assets they can do that with ONT by using the NEO virtual machine integrated into the system which then in return will be able to communicate throughout the smart economy using NEOX cross chain protocol.
But it doesn’t end there. Ontology network of trust will also be cross network compatible with ETH, EOS, ADA, ICX and so forth. Now, I do not know how far along they are in this process, but I do know that Onchain is obviously famous in China, and we all already know what they did with NEO on a global level.
By understanding the scale of this project, the interoperability with other platforms, the global link between the real-world and existing internet companies and legal systems, and the complex technical protocol infrastructure, we can draw a visionary conclusion that Ontology might take a position in the top 15 cryptographic assets this year depending upon progress.
Joint Task Force
In the following six months, the Joint Task Force, co-founded by NEO Foundation and Ontology Foundation will be dedicated to the following tasks:
1. API Standardization
1) To uniform the data APIs and network protocols on the NEO & Ontology protocol layers, in order to build the cornerstone of a shared mega ecosystem;
2) To provide uniformed APIs and to share some part of SDKs and development tools on both networks to make the development environment more user-friendly for app developers;
3) To explore and realize multiple use-cases of crypto-algorithms on blockchain;
4) To uniform address encoding and to make Neo & Ontology networks more friendly to end-users.
2. A Shared Ecosystem of Smart Contract
1) To adopt NeoVM as the only platform to run smart contract;
2) To propose a standardized SYSCALL rule for namespace, enabling the cross-chain deployment of smart contracts;
3) R&D on highly-efficient Native contract mechanism;
4) To develop a GO compiler and its development environment applicable to NeoVM.
In future, the Joint Task Force will run on a regular basis to explore and seek more cooperation on the development of blockchain protocol layer and application layer.
What to buy: NEO or ONT?
Logically, for a big growth, the best thing would be to have a low market cap and a real use for the coin. For example if you would want a 100% gain, Gas would need a 250 million increase in market cap, ONT would need a 360 million increase in market cap and NEO would need a 5 billion increase in market cap. All of this is of course based on a percentage gain. If you’re talking about dollars, the one with the least supply would have the biggest chance to increase the most. Now we can all agree these 3 coins all have a real use.
Realistically however you can’t predict this market at all.
ONT will not pass NEO anytime soon.
Don’t forget that this is not the only project coming from NEO, which means as more ICOs start rolling out on NEO platform, more NEO will be bought in order to invest in the ICOs.
Not to mention you get paid dividends in GAS and airdrops from NEO. Perfect example is ONT. All hodlers of NEO got an airdrop of ONT with possible more to come from other projects.
The one reason why ONT is hot right now is because they didn’t do an ico, they did airdrops. When people found ONT was in their wallets, they did their research and startedbuying once they found out what it was (atleast I did).
If ONT did an ICO, it would be in a bear state because after every ICO, there’s a dump once people get to a certain profit.