NEO and Ontology announced the creation of a joint platform for the next generation Internet

The two major Chinese blockchain platforms, NEO and Ontology, have entered into a partnership in which they will be engaged in the creation of an open cross-platform platform designed to become the basis for the next generation Internet.

We’re excited to announce that we ’re on the next-generation Internet! Read our Medium article to find out more: https://t.co/XXdxQi4pZ2 #WhenWeConnectMagicHappens $ ONT $ ONG

– Ontology (@OntologyNetwork) July 18, 2019

“This partnership is the next step not only for NEO and Ontology, but also for the entire blockchain industry, since we are pioneers of a collaborative approach to solving complex problems,” said NEO co-founder Da Hong Fei.

According to the report, the companies intend to create an "effective and inclusive interaction protocol." For this, NEO and Ontology will review their own strategic goals.

In particular, NEO will focus on developing protocols and components to support the full range of cryptocurrencies, and Ontology will build a decentralized identification structure.

To prevent unhealthy competition, the release of individual tokens and the use of specialized smart contracts systems on the new platform will be impossible. At the same time, the protocol will be designed with a low entry barrier and enhanced security.

Also, representatives of NEO and Ontology declare that they will not have to make changes to their own code for integration with the new platform.

White paper should be presented in the third quarter of 2019, and the launch of the platform is scheduled for the fourth quarter.

The news positively affected the price of tokens of two projects. So, at the time of writing, the cost of the ONT token has increased by almost 14%, and the NEO token has soared by more than 16%.

Recall, recently held an upgrade blokcheyna NEO. According to the developers, the update has made it more stable and productive.

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