Ontology announced the official activation of its own new core network, Ontology 1.0 for this Saturday, June 30. This blockchain venture, which had been operating in the NEO network, will start immediately after the launch, the process swap (exchange) of the ONT tokens, by the version compatible with the new network.
The founder of Ontology, Jun Li, explained at a pre-launch event of Ontology 1.0 held on June 26 in San Francisco, the technical characteristics and governing models of the main network of Ontology. He pointed out that the key components of the new infrastructure of the network are the basic services of public chains, a high-performance customizable blockchain framework and groups of protocols. Jun Li also referred to a new smart contract tool called SmartX, that can be used to compile, implement and invoke smart contracts.
With the release of Ontology's own blockchain, the announcement made by the company in the month of April, when it reported on its alliance with a group of companies to start the joint construction of its ecosystem, whose goal is to support applications and real business scenarios.
Exchange of tokens
As a result of the migration of Ontology to its own blockchain network, the owners of ONT tokens, will have to exchange them for the version compatible with the new main network . This process will be activated once the launch of the network Ontology 1.0 and will last for three months, according to an official notice from the company. Currently, users have tokens NEP-5 ONT, and through this process, they will trade them for the ONTs in the main ONTology network.