In May of this year, NEO and Ontology first announced they would jointly develop an ecosystem for smart contracts, as well as collaborate on other projects. The NEO Foundation recently shared some details of the new NeoContract and NeoVM (Neo Virtual Machine).
Essentially, NeoContract is a smart contract platform for users of the NEO blockchain. Smart contracts have a huge range of applications, ranging from transaction verification to the development of decentralized applications.
NeoVM is a key part of the smart contract ecosystem. It is designed using a low coupling architecture, which means that the virtual machine can be used by other blockchains, as well as outside the blockchain.
The platform is equipped with a set of advanced APIs and libraries, as well as developer tools that work with .NET (C#, VB.NET, F#), Java (Java, Kotlin), Python and JavaScript languages.
The NEO Blockchainis often called the “Ethereum of China” and is also often criticized. The foundation has a huge army of supporters, but the army of critics is also not inferior to it in number. Developing and implementing a comprehensive smart ecosystem can help the fund prove its legitimacy to everyone, as well as attract new initial coin offerings to its blockchain.
Ontolgy Network is one of the most successful ICOs of the NEO blockchain. The network is intended for collaboration between developers of different blockchains, as well as for the spread of the use of blockchain technology in business.
Ontology did not conduct a public sale of its tokens - they were distributed through a private sale, and also held several rounds of AirDrop (free distribution of tokens) in February of this year. ONT tokens began trading at $1.50 in March and have since risen to $7.50, a 500% increase.
According to icoexaminer
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