The developers of Ontology (ONT), a “distributed trust network” that provides the technological “infrastructure” for implementing a “trust ecosystem,” have released the Ontology Development Platform on Google’s Cloud Platform Marketplace.
According to an official blog post by the Ontology Team, the distributed trust platform is now among “one of the first public blockchains” to have launched a development platform on “leading cloud provider marketplaces.” These include Amazon’s Web Services (AWS), Google Cloud, and Microsoft Azure.
The main benefit of using Ontology’s cloud-based development platforms is that they allow software architects to program smart contracts without having to set up a local development environment – which can be quite time-consuming and more costly to manage in most cases.
As mentioned on the Ontology platform’s official website:
The Ontology network [aims to] promote “trust cooperation” and it allows a diverse group of business and technology projects to use its distributed trust platform.
In order to further facilitate the development of decentralized applications (dApps), the Ontology team has reportedly joined the Google Cloud Technology program. This will allow Ontology’s developers to “collaborate” with the search engine giant in promoting various “marketing activities.” The main goal of these marketing activities and the launch of new development platforms is to “grow [Ontology’s] tech community and make developing dApps more accessible” for all users, the announcement stated.
Implementing Private Smart Contracts With TEE
In early January 2019, Ontology’s management announced that it had partnered with a Singapore-based tech firm called TEEX – in order to enhance the Ontology platform’s “on-chain data privacy” and security.
According to the Ontology team, the cooperation between TEEX and Ontology’s developers will involve deveoping “secure client private key solutions.” TEEX’s proprietary Trusted Execution Environment (TEE), which is “a black box” residing inside computer chips that separates code and its data from external software programs, will be used to place sensitive smart contract data from Ontology’s network. This type of data encapsulation should significantly reduce the chances of hackers being able to compromise private or confidential user information on Ontology’s platform.
Ontology’s Gas Token Surges After Binance Listing
On February 16, Ontology’s Gas (ONG) token, which provides “fuel” required to perform certain transactions and access particular features on the platform’s network, surged nearly 140%. This, after Binance, one of the world’s largest crypto exchanges, revealed it had added trading pairs with the ONG token.
According to Binance Info, the Ontology project “provides new high-performance public blockchains that include a series of complete distributed ledgers and smart contract systems, and at the same time supports public chain customization and chain network collaboration, while continuously providing common modules in various distributed applications.”