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Saturday, August 18, 2018
Ontology [ONT] has a Private Transaction Option: Li Jun
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Ontology [ONT] has a Private Transaction Option: Li Jun

Li Jun, the Founder and Andy Ji, the Chief Strategy Officer of Ontology in a recent chant discussed the future of the company and gave answers to some of the questions regarding ONT.

The interview was divided into six topics:  Use cases; ONT, ONG, Technology Consensus,  the market; ONTO and the team.

As per Li Jun, Ontology possesses a private transaction option like Zcash and the blockchain will be able to uphold both private and well as public transaction depending on what the future demands.

Li Jun was then asked about the next big thing for Ontology. He mentioned the Ontology Oracle services, distributed data exchange protocol, infrastructure performance enhancements to almost 10k TPS and the development of sub-blockchains that are scheduled in the 3rd quarter.

Furthermore, he went on to say that the team was paying more attention to a set of 2 directions. He added:

“One is a continuous enhancement for the blockchain infrastructure and the trust collaboration platform. Another direction is for ecosystem development, we will engage and involve different partners in different industries to build decentralized dApps and sub-blockchains on Ontology.”

The next thing that Jun was asked about was the estimated timeframe required by Ontology for it to reach 10k TPS and the dApps required for the same.

Li sun replied saying that because Ontology’s applications are used for business situations, the number of transactions can be made with the help of the apps. But, the team is still working on good scalability solutions. He went on to explain that ONT gives the modules to connect to authentic business situations, for example, the scattered personality framework and circulated data exchange framework.

He went on to add:

“There is no minimum amount, but you will have competitors. If your stake of authorization is less than another, you will be a candidate (you will get a reward as well, but of course, less than normal consensus nodes).”

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Madhuri Arora
A passionate writer and an avid reader. I love watching action and superhero movies. Love food, music, travel and games.