Author: Wang Yanhua
Li Jun, founder of Ontology, appeared on a new episode of Huobi Talk from his Shanghai office.
Huobi Talk is a weekly Youtube feature by Huobi, where livestreams of interviews with guests in the blockchain industry are broadcast. Huobi is an international multi-language digital currency trading platform and exchange.
It is a time for change for Ontology. In the second quarter of 2018, which is “around a month from now” according to Li, Ontology will convert its NEP 5 tokens to main net tokens. (A blockchain usually has a mainnet and a testnet–one that actually transfers money and one for testing. New projects sometimes do not have a Main-net when they start.)
The moderator Dennis Jacobs, president of Digital Capital Partners, asked Li teasingly:
“You used NEP 5 to initially launch your tokens. You’re big friends with them for many many years. But now you want to have an affair and cheat on them and do your own thing on the side? Do they feel that you’re leaving them or are they actually happy that Ontology is developing their own thing. Do they know from the very beginning that you’re just utilising NEP 5 temporarily and later you’re going to jump anyways?”
“NEP 5 is a very good protocol to issue and distribute your token. Ontology needs to use tokens in real business scenarios. Those scenarios need to be be built on Ontology blockchain, and we have to convert the tokens to the mainnet for services and smart contracts. So we have to convert these tokens from NEP 5 to our mainnet tokens. But for people using Ontology, if they want to issue tokens, we will introduce their requirements to NEP 5 and let them issue their tokens on NEP 5.”
Li also talked about how Ontology helps individuals and corporations develop their own blockchains. An unique aspect of Ontology is that it allows users to customise different public blockchains for different applications, while most startups are using a single blockchain.
“We modulise the framework so people can easily build blockchains by themselves on the Ontology framework. (“So the applications are decentralised,” Jacobs interjected.) Some people want to build their own blockchain, but they also want to link it to the public blockchain for large corporations. So you need our new architecture to support that.”
You can watch the full livestream at Huobi’s Youtube Channel.