“Entity-Based” Strategy provided by Ontology and PTS

Ontology, a high-performance public multi-chain project, and Points (PTS), a blockchain-based credit service network, today declared about their partnership
05 June 2018   1306

Ontology is to promote PTS with high-performance blockchain technology, integration with Ontology’s blockchain system, data exchange services, generation and execution of smart contracts, data attestation services, and more. PTS is going to build an Ontology-based platform in order to supply different services such as financial technology products, credit data exchange, credit analysis models.

With Ontology’s technology, strong community, and PTS’ top talent pool and high-quality industry resources, the two sides will work on credit-based distributed financial and life score services, promoting blockchain innovation and application, data self-governance, and building the world’s first blockchain credit service application with a data volume exceeding 100 million.
Jiachen Zhang
Founde, PTS

“Entity-based” strategy by Ontology aims to connect entities and digital systems without the need for sophisticated technologies. This will let distributed services of a range of application scenarios to link with human, financial, physical, and business entities, and at the same time, give the users a better service experience and endorse trust coollaboration and efficiency. The partnership with PTS gives the first step for Ontology in financial credit. 

Ontology is a trust system that integrates the physical world with the digital world. It supports decentralized, community-based, and dispersed trust sources and data source collaboration. It also supports customizable compliance for different business scenarios and regulatory environments. It is a great honor to work together with PTS to integrate the Ontology distributed trust platform with financial credit. Blockchain technology has a natural connection with the financial credit industry and we expect that cooperation with PTS will bring more technical and application innovation. Both parties will work together to promote trust ecosystem development and delivering trust to society.
Jun Li
Founder, Ontology

Ontology is aimed on providing common modules on the underlying infrastructure for various types of distributed scenarios, such as those for the distributed digital identity framework, distributed data exchange protocol, and so on. Built on specific scenario requirements, Ontology will continue to deploy new common modules.

Binance to Launch BTC-Pegged Own Chain Based Token

In this way exchange wants to transfer crypto based on own blockchains to its ecosystem and  increase liquidity and trading volumes at Binance DEX
17 June 2019   158

In the coming days, Binance Exchange will launch a series of BEP2-tokens, tied to different cryptocurrency rates, on its own Binance Chain blockchain. The first token of this type will be BTCB - its rate is tied to Bitcoin.

BTCB is backed with bitcoins located in Binance reserves. The address for storing bitcoins has already been made publicly available, so that users can verify that the token has the necessary support.

In the future, the BTCB / BTC trading pair will be launched on Binance.com. With its help, users will be able to convert the original cryptocurrency into the Binance Chain token. The price spread in this case will be about 0.1%.

According to Binance, in this way it can transfer cryptocurrencies based on its own blockchains to its ecosystem and currently not represented in the Binance Chain. The company expects the launch of new tools to increase liquidity and trading volumes at Binance DEX.

While this approach is more centralized than atomic swaps, we believe it provides a higher degree of ease-of-use to most traders. And most traders are already trusting Binance.com to hold their funds anyway.

Binance Team

To date, Binance has independently reserved 9,001 BTC and released 9,001 BTCB. The BTCB / BTC trading pair on Binance.com will tentatively appear within a day, and an asset will be added to Binance DEX after approval of the relevant offer.