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Ontology is a high performance public blockchain and distributed collaboration platform. Ontology aims at solving the trust problem with blockchains, with a prime focus on issues such as identity security and data integrity. Ontology's mainnet launch took place in July 2018.
Some of its core features include a lightweight universal smart contract language (with WASM support), the support for multiple encryption algorithms, and the support for multiple consensus algorithms (e.g., VBFT, DBFT, RBFT, SBFT, PoW).
The Ontology network is divided into three distinct layers. (1) The core layer is made of protocols and various chain groups. (2) The application layer is comprised of partners, application frameworks, and modules. (3) The user layer represents all users of the applications in Ontology's ecosystem.
The network relies on a dual-token model, with ONT (Ontology Token) and ONG (Ontology Gas). ONG tokens are distributed to ONT-holders and are used for on-chain transaction fees.