- The intended protocol to foster the advancement of the next-generation internet.
- The protocol will have a low entry barrier to ease the process of integration for member chains.
Two of the leading Chinese blockchain firms, NEO and Ontology have announced a partnership that will see them collaborate to develop an interoperable protocol. The open, global cross-chain platform is meant to foster the advancement of the future of the internet.
NEO and Ontology intent to utilize their respective strengths to come up with a protocol that commands full interoperability. NEO is tasked with building protocols and components that will support the full spectrum of crypto assets. On the other hand, Ontology will concentrate on building on the decentralized identity framework.
In a press release sent to media outlets, the firms aim at ensuring an “eco-friendly approach to member chains.” In addition, the protocol will have a low entry barrier to ease the process of integration. Moreover, the protocol is to achieve finality and atomicity, especially in cross-chain transactions. The idea is to widen the scope of decentralized applications (DApps) while at the same time optimizing security for all the cross-chain transactions and their respective interactions.
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