Ontology AMA Recap

Ontology AMA Recap

CryptoDiffer team

Hello, everyone!😁

We are glad to meet here 

Ecosystem Manager, Russia & CIS at Ontology (@kristinaontology)

Ecosystem Manager, Russia & CIS at Ontology

Hello CryptoDiffer chat,  thanks for having me here today 🙂

CryptoDiffer team

Recently, CryptoDiffer team and Gagarin Crypto team launched own node on Ontology – CryptoDiffer&Gagarin node.

After releasing the new Governance and Staking Economic Model – staking became much profitable.

Now our node is in 22nd place with APR – 28.86%. Total stake amount – 1,413,370 ONT.

There are some helpful links:

We will help you with all issues about staking on our node here 👉 @OntologyRussian

How to stake on ONTO or OWallet 👉 https://node.ont.io/stake

Staking Yield Calculator 👉 https://node.ont.io/calculator/node

Node details 👉 https://node.ont.io/detail/038f80875113e25d6719f1d36d36fd31c0bdcfefec0bde08fae743c712bc57f8bf/AVrmgoBAEu7PGTA7vgj2CwPuyrYhjpBUdK/balance

CryptoDiffer team

Let`s move to the introduction questions

Q1: Can you introduce yourself to the community? What is your background and how did you join Ontology?

Ecosystem Manager, Russia & CIS at Ontology

First i wanted to congrat CryptoDiffer and Gagarin on launching GCC Node on Ontology

Glad to have you guys supporting Ontology Development and happy to help and assist you to grow 🙂

About myself:

I am Kristina, work as Ecosystem Manager at Ontology, i’m working in team with our architects and business development managers on tech solution and implementation of Ontology infrastructre. in short, facilitating integrations and partnerships 🙂

I joined Ontology in August 2019. Previosly i worked in Venture Fund as an investment manager, and before that as an analyst in Trading Representation and some GR institutions

CryptoDiffer team

Q2: Can you briefly describe what is Ontology in 3-5 sentences?  What technology stands behind Ontology and why it’s better than the existing one?

Ecosystem Manager, Russia & CIS at Ontology

Admire blockchain as ideology and believe it can change the way we cooperate and organise community that s easy.

one line: Ontology is a high-performance public blockchain and distributed collaboration platform

Ontology’s main features include digital identity protocol – ONT ID, and DDXF, a decentralized data exchange and collaboration framework.

I would say we work on every aspect to make tthe protocol to be easy to work with

– for businesses – it is an easy plug-in system, where you just come and integrate the DID solution with your specific requirements on privacy and performance 

for developers – we have a range of tools from VMs and SDKs so you just work in your friendly dev environmet while using ontology tech 

in short, we focus on practical aspect of actual easy of tech integrations.

CryptoDiffer team

Q3: What are the next major steps for Ontology?

Ecosystem Manager, Russia & CIS at Ontology

We have just finished our major platform upgrade to Ontology 2.0 and next final step is to roll out the final comprehensive version of out data exchange market – SAGA

that s the roadmap for Ont 2020

So as soon as SAGA would be finally ready for heavy industry cases, we ll have the full cycle working. Here you can read more about SAGA:
https://medium.com/ontologynetwork/ontology-newly-launched-a-decentralized-data-marketplace-saga-at-consensus-distributed-839288875fb9

CryptoDiffer team

Thank you for such detailed and interesting answers!

Let’s move to the Telegram community questions part.

Cryptodiffer Community

– Are there any guides or tutorials I can follow to operate a node?

– Please is any special hardware required to operate a node?

Ecosystem Manager, Russia & CIS at Ontology

Hi, cool that you are interested 

we prepared a new updated guide on how to sign up and run you node on Ontology, you can find it here: https://medium.com/ontologynetwork/how-to-sign-up-to-run-an-ontology-node-5415ba1bb53c

also there is a special announcement channel for current and future nodes with all important info: https://t.me/OntologyTrionesAnnouncements

Node HW specifications: 

8C/32G/500GB

-Fixed IP Address, with stable connection to AWS/Google Cloud

For now, it is not compulsory to deploy the hardware node. We are working on slash regulations to build up a more healthy network environment, nodes who do not deploy the hardware may be fined. Once there is a clearer guideline, it will be announced in Ont social medias. 

Cryptodiffer Community

ONT ID is one of the best feature of ONTOLOGY . Please explain, more about ONT ID and how I can get and access it. How does it differ from other security protocols like DIGI – ID, 2FA etc?

“DISTRIBUTED DATA EXCHANGE PROTOCOL”, that we can see on Ontology website. can you please explain more about this Data Exchange Protocol?

Dealing with data requires trust, privacy and security. How do you ensure these three crucial things are done in users data handled by Ontology?

Ecosystem Manager, Russia & CIS at Ontology

ONT ID is a decentralized identity framework following the W3C DID Standard, using blockchain and cryptographic technology that can quickly identify and connect identities and enterprise assets

It is decentralized, self-sovereign, safe, easy to use, helps users to fully control their own data and identities

By using ONT ID any entity can take full control of their own identities and data, and authorize apps or other users to access their data you can test it out on our Data Management Wallet ONTO – onto.app – and play around with DID

Cryptodiffer Community

Can you envision ONT being used for things like real estate and proof of ownership (perhaps eventually replacing the need for a notary or middleman) on a small business/individual customer scale? What are the barriers to achieving this?

What is the vision for DECENTRALIZATION ?

Will I be able to run a node on my Raspberry Pi one day without needing a massive amount of ONT?

Ecosystem Manager, Russia & CIS at Ontology

yes, thanks for you questions! that s what we are focusing on right now

We are working right now on adding more use cases for ONT ID on data attestation, data notarisation in education/healthcare/automative and content industries. next big potential areas for ONT ID is real estate and energy grid

you can check some of the use case examples on our website: ont.io

for the barriers – real estate and land registry industry closely contected with GR sector, so that the regylatory issue and who things would progress is just a matter of time.

Cryptodiffer Community

Have been staking 100,000 ONT for a while, but recently you announced changes have been made to the previous governance and staking economy model so as to increase user participation, can you highlight the recent changes made ?

Ecosystem Manager, Russia & CIS at Ontology

Hi, switching to staking 🙂

Last month we celebrated two years since the launch of the Ontology MainNet, coupled with the unveiling of Ontology 2.0

new Ontology 2.0 included integration of a number of community suggested upgrades some of them – make staking easy

and it is easy now, since minimum staking amount is now 1ONT, compared to 500 ONT before

all highlights and guide can be found here: https://medium.com/ontologynetwork/its-now-easier-than-ever-to-run-an-ontology-node-and-earn-staking-rewards-a53c4c05715

Would remind once again about CryptoDiffer GCC Node, you can stake and support your community 🙂 node.ont.io you can find the rewards caculator and guide on this website as well

Cryptodiffer Community

Ont recently started supporting NFT’s. Are their plans for NFT backed by $ONT… that can be melted back to have $ONT. And if there is a plan, how will you get artists or encourage them to create more NFT art on ontology.

Ecosystem Manager, Russia & CIS at Ontology

We started supporting NFTs a few months ago. there is an ongoing NFT challenge happening right now – you complete tasks, chase for hidden NFTs etc and either collect NFTs or can exchange it back for ONT. as far as I know NFT price will increase in certain %. 

I like that you asked about artists creating NFTs, that a really cool concept on blockchain. we are in touch with several blockchain art platforms to figure out in what way they would like to speculate about blockchain and tech 🙂 the only obstacle right now is lack of tech skills on artists side, so probably as soon as the creation of NFTs would be. as easy as to work with web, will see more art projects

Cryptodiffer Community

I heard that Ontology is in talks with leading car manufacturers. What is the real application of Ontology in the automotive industry?

Ecosystem Manager, Russia & CIS at Ontology

Hi Sonia, yes we are! today cars become smarter, you can control it from you mobile app – lock, unlock, charge. all data streamed by car API has a huge potential to be used and utilized from insuarnce to industry services. Ontology connects ONT ID to cars and make data created by it work and managed by actors.

We have dedicated page to automative cases: https://ont.io/automotive

Cryptodiffer Community

How is Ontology convincing businesses or customers to adopt its technology? As we all know businesses are always sceptical to try out new tech.

Ecosystem Manager, Russia & CIS at Ontology

You know the pain:) 

First we have all tools in hand that does the work for tech integration but do not force the business to change anything in their operation systems or disclose sensetive information. 

We are members of INATBA association, Celo Alliance and Digital Chamber of Commerce – though this associattions we educate businesses on tech so they are not scared + plus that were working groups are created with sandboxes where we run pilot projects

Cryptodiffer Community

Hi! Please tell us about the recentl updates regarding governance and staking model. Why has the transaction fee been increased? 

Does it make sense to launch your own candidate node or is it more profitable to use an existing one?

Thanks!

Ecosystem Manager, Russia & CIS at Ontology

hi @chiliua, 

in short how the governance system changed: 

– the minimum requirements amount for staking is now 1 ONT (fefore 500 ONT) and withdrawal period shorten to 5 days

– the min gas fee per transaction increase to 0.05 ONG. (Since several big content-based projects joined Ontology Blockchain, the avg number of transaction increased, while the staking min amount decreased. In order to balance and generate more fees from transactions for nodes to sustain themselves, the transaction fee were changed from 0.01 ONG to 0.05 ONG, which will generate approximately 15,768,000 ONG in transaction fees per year, when the average TPS is 10.

Ecosystem Manager, Russia & CIS at Ontology

Ok, I think im done

Thanks all for your questions!

Cryptodiffer Team

Thanks for your time @kristinaontology 👍🏻

It was a pleasure to conduct an AMA with Ontology!!!🔥

Let’s finish the AMA

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