Ontology Launches Mercury Identifier to Improve Its Decentralized Identity Product

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Wed, 08/12/2020 - 12:41
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Yuri Molchan
Ontology spreads the word that it has kicked off its "Ontology Mercury" identifier, expected to offer more capabilities to users of its Decentralized Identity product
Ontology Launches Mercury Identifier to Improve Its Decentralized Identity Product
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In its recent article on Medium, the Ontology team has announced the official release of its "Ontology Mercury" decentralized identifier.

ONT
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Ontology Mercury Identifier

The new decentralized identifier’s goal is to provide the platform with more capabilities in the use of its decentralized identity solution, whose launch was announced on Aug. 11.

Ontology Mercury will provide support for various sorts of messages. Support for message routing and message security will be included.

Besides, SDKs for more programming languages will be implemented in the future, and Ontology is inviting developers to enter its GitHub repository and create their own dapps based on ONT.

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DeFi users to benefit from Ontology’s decentralized identity solution

The decentralized identity solution was released on Tuesday. It was created to help holders of digital assets, as well as traders, to manage and/or exchange their coins in a more secure environment and streamline those processes.

The decentralized identity solution developed by the platform will enable users to manage their crypto assets via a special dashboard created by the Ontology teamregardless of the wallet they use or assets they hold.

Users will have access to their assets via the platform website or the ONTO app. Besides, users will be able to access their OScore, the platform's credit scoring system, on any chain.

The goal of Ontology, according to founder Li Jun, is to change the method of managing and transferring data, as well as raising the level of protection so that all involved users feel the higher value of these changes.

Another recent Medium post states that all future DeFi platforms and developments are likely to be regulated by authorities, similar to traditional finance companies.

Ontology’s solution for decentralized identity is likely to come in handy here for all DeFi users: it will link users' coins to their identity, provide extra security and link together all the fragments of the new-gen decentralized finance system.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.