Ontology and Waves have started working together to develop an infrastructure for the interaction of their blockchains. The initiative is aimed at developing the decentralized Finance industry (DeFi).
According to the developers, Ontology will become one of the key chains for Gravity Hub. This decentralized data Oracle was introduced by the Waves platform in December. The solution is aimed at improving the interaction of various blockchains and decentralized applications, as well as effective data acquisition. Ontology will provide data for transactions between blockchains, information about token transfers, as well as external data from oracles and decentralized applications based on Ontology.
The Gravity Protocol will provide all types of communication between blockchains. In addition, it will allow you to create decentralized Web 3.0 applications of the new generation, and their functionality will allow you to interact with blockchains.
“The partnership between Waves and Ontology will provide developers with a new infrastructure for creating decentralized applications that are compatible with these blockchains. We will continue to work on new DeFi solutions that can be functionally compatible with different networks. This will be our contribution to the development of the industry.”
The Waves Protocol will allow you to make transactions with ONT and ONG tokens, so they will be available for placement on the Waves exchange.Exchange and other decentralized trading platforms based on the Waves blockchain. The WAVES token will be available for use and staking in the Ontology network, and all crypto assets that work with the Ontology Protocol will be able to move to Waves. By interacting with Ontology, Gravity data providers will be able to make deposits in ONT tokens. They can also be used to pay commissions for operations in Gravity.
Recall that last month, Waves Enterprise and the Russian division of Microsoft teamed up to create corporate solutions based on blockchain and cloud technologies.