Two major Chinese blockchain projects, NEO and Ontology, announced this Thursday that they are working together to "create an open cross-chain platform and the foundations for the next generation of the Internet.
Companies promise to build on their strengths and create an "effective and inclusive protocol of interoperability". As a result, NEO and Ontology plan to "change their strategic goals to make full use of compatibility protocols.
NEO will develop protocols and components to support the full range of digital assets, and Ontology will continue to work on a decentralized core system.
In the new protocol it will not be possible to issue separate tokens, as well as the use of specialized systems of smart contracts, which should prevent the formation of unhealthy competition. At the same time, the developers promise not to make any changes in the code of the participating blockchain projects for their technical integration.
In addition, the project organizers intend to ensure the compatibility of smart contracts in the various bottles, which they expect to enhance the capabilities of the decentralized applications based on them.
White paper joint project of NEO and Ontology will be published in the third quarter, and the launch of the platform will take place in the fourth quarter, the publication says.