Home Project NEO and Ontology Signs MoU to Integrate Strategy and Technology

NEO and Ontology Signs MoU to Integrate Strategy and Technology

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  • Technological Collaboration
  • Joint Investment in Blockchain Technology Development  

NEO Foundation(NEO) and Ontology Foundation(Ontology) signed Memorandum of Understanding for the strategy and technology integration for the promotion of the blockchain technology, along with its applications, according to the recent announcements.  
NEO and Ontology provide the NeoVM-backed regulatable protocols, with a smart contract system, to global developers.
Key collaboration areas would include the construction of Smart Contract, along with the development of NeoVM and NeoContract, the data integration-providing the standardized technology interfaces such as APIs and SDKs-, and the cross-chain development for the integrated main-net.  
NEO and Ontology would also jointly provide the funding to relevant research institutions for the blockchain technology development,consensus algorithms, encryption algorithms, cross-chain protocols, and the formal verification.
While NEO, which is listed on major Exchanges such as Binance and Bitfinex, has a market cap of about USD 4bn, Ontology(ONT), which is listed on Exchanges such as OKEx and Huobi, has a market cap of about USD 800m, according to the data by CoinMarketCap.