Exclusive: How is Ontology [ONT]’s VBFT different from Ethereum [ETH]’s Casper?
In a recent exclusive interview covered by the AMB Crypto team, the technical team of Ontology discussed the details about all their upcoming projects and the recently released updates.
Q1. As we have been observing, Ontology is coming up with various innovations on a regular basis. What are the new updates we can expect in the future? How are these innovations bringing a difference in the blockchain community?
We have solid roadmaps leading the project up to 2020 which you can find here: https://medium.com/ontologynetwork/the-first-version-of-the-ontology-roadmaps-8760c96e50b5. You can also learn more about the roadmaps here: https://medium.com/ontologynetwork/elaborating-on-the-ontology-roadmaps-18100c449402. As you may have noticed we have more than one roadmap. We see our project in two parts; one is the chain network, the underlying blockchain infrastructure. The second is the trust ecosystem, the upper-layer which will allow us to deliver our goals of building trust.
Q2. What is Ontology’s co-builder plan?
Ontology is focused on building the underlying infrastructure and core modules on the upper-layer. Our Co-Builder Plan refers to all partners from all industries and backgrounds who come to our platform to operate their businesses, and as the name goes, co-build the trust ecosystem with us.
Q3. What are the goals set for the Ontology and COT collaboration?
ONT ID, Ontology’s distributed identity framework, is key to Ontology’s infrastructure and goals. The system supports identity verification and authentication for people, assets, objects, and affairs. Our partnership with COT will help us develop object identification, opening up Ontology to the IoT.
Q4. How is VBFT different from Ethereum’s Casper?
Blockchain consensus algorithms are divided into two categories: chain-based and Byzantine Fault Tolerance [BFT]-based. Ethereum is a chain-based consensus, and Casper is a redesign of the Ethereum consensus algorithm. VBFT is a BFT-based consensus.
Q5. Brief us about the Triones Consensus System and Ontology chain network model.
The long-term strategy for Ontology is to build a chain network system that supports the organic combination of multiple blockchain networks. The Triones Consensus System is essentially a scalable VBFT-based consensus model for this chain network.
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