Ontology is ready for MainNet launch

Ontology's MainNet is going live on June 30 with a simultaneous swap NEP-5 ONT token to ONT
14 June 2018   1143

High-performance public blockchain project Ontology is going to launch the MainNet on June 30. The launch will mark the transition of the project from NEO blockchain onto one of its own. Thus, current NEP-5 ONT token will be swapped for ONT. The swap period will be active for 3 months till October 1.

As of now, exchanges like Binance, Huobi, OKEx, Upbit, KuCoin and Gate.io are supporting the migration. The swap procedure assumes an automatic mapping as well as a manual method.

Ontology is a distributed trust collaboration platform that provides public blockchains that include a series of complete distributed ledgers and smart contract systems. At the moment of publication, Ontology market indicators are as follows:

Average price 6.07 USD
Market cap 918,574,979 USD
Volume (24H) 100,104,000 USD

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.