Hey folks, it’s time to get excited not only because Bitcoin is circulating around $8000 but also because today we are going to perform our research on a fairly new coin! If you aren’t pumped up already, here are a few reasons enough to brighten up your day.

This coin has increased its value by more than 90% during the past one month when the whole crypto market was bearish. The coin has never had an ICO rather it was distributed among the newsletter subscribers by airdrop. When we research a coin we always concentrate on the number of partnerships the coin has and this coin in question is developed to have partnerships with existing big brands. As a matter of fact they already have quite a few partnerships going on with many big names which are discussed later in this article.

I know many of the crypto enthusiasts have already guessed the name by now and yes it is “ONTology”. Whenever a new coin enters the crypto scenario, we all get excited and rightly so as we are witnesses to the huge amount of return we got from currencies like Ethereum and NEO. But at the same time, conducting research on a fairly new coin and making informed decisions based on that research is an equally difficult task and if you fail to do your due diligence you might end up with a few more Bitconnects. Hence I choose to take the plunge of evaluating a very new coin which apparently seems to be very promising. So let’s go ahead and examine ONTology from all the crucial aspects and as always it starts from the key people working behind the project.

The Key people: Onchain, the parent organisation of ONTology, have listed 40 people in their official website as key people and this list includes 26 developers. Although their team page doesn’t have any social link of the team members but they have provided an extended bio of each team member. I quite like this strategy as you get to know how capable the team is from a single page but the obvious downside is that you don’t get any proof of what is mentioned in the bio. Now coming to the founder of ONTology whose name is Jun Li and he comes with 16 years of experience in the IT and Fintech sector. Another team member who deserves mention is Andy Ji, Chief Strategy Officer of Onchain. He is equipped with a solid 8 years of experience in the financial platform architecture design and Blockchain technology and is a real asset of Onchain but the main person who can really influence your decision of whether or not to invest in Onchain is DA Hongfei. He is also the founder of NEO and has helped the Chinese Government create a healthy atmosphere for Blockchain innovation in China without the scammy projects. If this is not sufficient to satiate your curiosity, jump ahead and read our blog on NEO and you will get a complete picture of how important his association is with ONTology.

Before going into the details of our next section i.e partnerships, we must understand what goals Onchain has set for themselves to achieve. Onchain is helping existing businesses integrate blockchain technology with their already existing products by creating pluggable blockchain modules. So it’s essential to understand the kind of support ONTology is enjoying from the big brands in their early stage. If Onchain fails to attract new brands in this budding stage then we might not see the rise in price of ONTology in the future.

The Partnerships: We will start with the most recent ones.

The biggest news came on the 11th of April when Onchain announced in their ONTology blog that they have partnered with many international companies to “explore application development, outreach, and incubation, and together build a new generation of public blockchain infrastructure and a distributed trust ecosystem to support real business applications and scenarios”. The most important aspect of these partnerships is the geographic coverage of the partners and all the partners are venture capital firms. They have partnered with Tembusu Partners who will help ONTology acquire the southeast Asian market, Accomplice who will help build and expand the influence of ONTology in the United States and Israel and Hashed who will help ONTology strengthen its development and influence in South Korea and Northeast Asia. You can learn more about the partnerships here.

This is not the first time when Onchain has partnered with venture capital firms. On April 4th, 2018, they had officially announced another such huge partnership with four more VC firms Sequoia China, Danhua Capital (DHVC), Matrix Partners China, and ZhenFund.

3. Strategic partner of Microsoft China on multiple projects(recently Onchain’s ONTology token got selected for Microsoft’s Chinese accelerator).

4. Other notable partnerships include Hyperledger, Partnership with Alibaba to provide an email certification service for Ali Cloud and Investment from Fosun Group.

5. Onchain is One of KPMG’s top 50 Fintech companies in China

The technology overview via their white paper: The Onchain team has created the ONTology token so that existing companies can easily integrate or migrate to blockchain solutions without understanding the underlying technologies in depth. So what does that mean? This means that it is not imperative to understand the exact technology they are using rather we should try and understand the problems that can get solved using ONTology chains. Onchain aims to cater to blockchain requirements of different businesses, which clearly means that since different businesses have diverse problems, Onchain must have several technologies in place to solve them. The following are what they have achieved so far:

Implementation of several consensus modules: dBFT consensus model is the first stable consensus model implemented by the Onchain team and is the same model that is used by NEO as well. They are also working on a new consensus algorithm module, VBFT, which is a new consensus algorithm module that combines PoS, VRF (Verifiable Random Function). BFT and TestNet will be tested primarily with VBFT. They have also implemented PoW based consensus modules. Implementation of several SDKs facilitating use of several languages: They have several modules such as JAVA SDK, a WASM virtual machine written in Go language, Type Script SDK, FPGA implementation of computation-intensive logic, various cryptography basic function modules in place which will help businesses tackle issues without having to understand all the core principles of blockchain. A similar analogy can be creating a website using jquery without fully understanding javascript in depth. Also ONTology facilitates writing of smart contracts in several different languages such as C#, Java, Python, JS, RUST, Go, and so on. The main advantage of this is that existing business’s tech team won’t have to learn a new language to implement blockchain in their company. Implementation of several cross-chain services: Many businesses will require cross-chain services to solve their unique problems. It is difficult for cross-chain services to solve all application scenarios through a single protocol. That is why ONTology has implemented different levels of cross-chain: Business-layer cross-chain, Asset/transaction-layer cross-chain, Consensus-layer cross-chain.

With the overview above, one thing which is crystal clear to us is that the ONT team has in-depth knowledge of what problems they have at hand and how they are going to solve them. If you want to dig deeper into the details of ONTology’s technologies, go ahead and give these articles a read:

Clear description of what technologies are being currently developed in Onchain

White papers of ONTology

Product Development and Growth: In my opinion growth is directly proportional to price fluctuation of a crypto. If a coin has shown considerable growth in the past and have a clear roadmap ahead then you should consider it as a good investment. Onchain was working with many businesses way before launching their token ONTology.

How long have they been working on the project?

Onchain started their journey back in June, 2016 and since then they have been associated with many partnerships and with big names. Nowadays we see many ICOs raising funds without even a minimum viable product but Onchain created many complete blockchain solutions for Ali Cloud, Fosun group and worked with the Japanese Ministry of Economy, Trade and Industry even before launching their own token.

How active is their Github repository?

Normally we compare how much a coin’s github repository is active by indicating how much they are ahead or behind their competitors. But we cannot do it for ONT because they made their code open-source only a few months ago and ONTology’s first projects were announced on 30th March only. One thing I would like mention here is the speed with which they are progressing, I was following their Github repository closely for the past 10 days and most of their 17 repositories are being updated daily multiple times.

Were they able to deliver what they had promised in the past?

Well, since June 2017 to October 2017 they have been developing private blockchains for private companies and government organizations, hence it is impossible to determine whether they have been able to deliver in a timely manner. Having said that, they have been able to raise funding repeatedly during this year-long span so they must delivered at least 60% of they had promised to those organizations, otherwise it wouldn’t have been possible to raise further funding rounds.

Roadmap: They released their first roadmap on the 13th of April,2018 where they have provided an elaborate description of what they are trying to achieve in 2018 and also a clear overview of their plan for the years,2019 and 2020. We must closely monitor them and see how much they can achieve in the coming few months. I will update this post every now and then with recent developments regarding ONTology so keep visiting to receive updates.