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Blockchain technology is experiencing a sustained arc of growth, a trend that has captured the attention of business leaders from a wide range of industry verticals. With a broad spectrum of use-cases that could be relevant to your business, your organization stands to gain considerably from a full embrace of this revolutionary technology. Considering the robust health of blockchain solutions more broadly, we have outlined the most common use cases and proposed solutions that have been developed at Ontology.

Data Marketplace

In the last decade, we have witnessed rapid growth in the economic importance of data streams, connecting the physical world with the digital world. For sensitive corporate or personal data, privacy-focused features can be used to control access to data and ensure it is kept secure. Blockchain technology can provide solutions for decentralized data storage and data sharing.

While new data regulations such as GDPR and CCPA have been introduced in recent years, ambiguity remains over who the responsibility ultimately falls to in the case of privacy infringements due to the large number of parties involved. Ontology’s solution can help solve this problem with its unique technology and infrastructure.

Use Case

SAGA is designed to be a decentralized data marketplace for individuals and organizations to monetize and acquire data in a trusted, standardized, and cost-effective way. For this purpose, parties in the SAGA ecosystem (individuals or companies) must identify themselves using a Decentralized Identifier (DID), which is provided by Ontology. This serves as a “trust anchor” to verify data and associate data streams with their owners. Companies can publish and monetize their data, provided it is in full compliance with privacy regulations. Data consumers may purchase data streams on the SAGA marketplace, which shares the revenue with the data provider. Third-party data processors can provide services such as decentralized storage or analysis tools. Companies can only use data streams if their owners have authorized them to do so. The SAGA protocol strictly limits what can be performed with the data, for example prohibiting data to be transferred to third parties without authorization.

SAGA uses a reputation system to establish trust between nodes, as well as an open API that ensures SAGA is compatible with other applications.

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Our Strengths

Accelerated by our high-performance public blockchain and distributed collaboration platform, SAGA is powered by a complete data interaction protocol. The process of data valuation, profit sharing, data security, and privacy protection is fully decentralized.

Data Ownership and Authenticity Verification

1.Using decentralized digital identity ONT ID to identify the data and its owner 2.Connecting multiple trusted parties “Trust Anchor” to verify data and its owner 3.Integrating with off-chain data source “Oracle” to securely transmit off-chain data to blockchain

Data Security and Privacy Protection

1.The data owner authorizes access to data and the clear “right of using data” which can protect data security 2.The protocol covers typical data interaction scenarios and strictly limits behaviors for each role during the process

Peer-to-Peer, Cross-Platform Data Trading Technology

1.Complete data interaction protocol, including a standard process for data valuing, trading, and profit-sharing 2.Open API ensures compatibility with applications on any infrastructure 3.Reputation rating function to establish trust between peers

Why work with Ontology?

High-performance network

5,000+ transactions per second
Fastest consensus mechanism confirms a transaction in less than 1 second
State-of-the-art technology: DDXF ensures efficiency

Flexible integration

Multiple languages supported including, Python, Java, JS, Golang, and C++
Easily invokable “Add-on” protocol

Stable and Consistent

MainNet running smoothly since launch
Supporting 300+ dApps

Leading in innovation

Distinguished DID protocol – ONT ID used by 280,000+ individuals
Fastest WASM virtual machines: Ontology WASM-JIT
Cross-chain functionality ready to use

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