Ontology, the robust public blockchain network, and distributed trust collaboration platform has announced the launch of the new version of its self-sovereign data wallet solution, ONTO, for its customers. The firm has put in its best efforts to enhance the operability of its wallet system in the updated version allowing the users to enjoy seamless access to the services.
The Ontology team took to its official Twitter handle to broadcast the news about its latest wallet version. They addressed the event as a milestone for the Ontology ecosystem and released a post stating:
A new milestone⛳️ for #ONTO, our self-sovereign #data wallet! We are delighted🥰 to announce the launch of a new version of ONTO, with additional data management & claim features, creating a seamless process for the protection and endorsement of data. https://t.co/1r5DZ8Yjln $ONT
— Ontology (@OntologyNetwork) June 22, 2020
According to the report, the latest ONT wallet version is studded with new efficient functions and data management features, strengthening the protection and data endorsement on the portal. The ONT users will now enjoy access to the following features:
- Easy contact finding and asset transfer
Users can design their individual address book. They can add the other ONT users to their address book by searching them via email or mobile numbers linked to the ONT IDs easily. The feature will facilitate the management, storage, and sharing of digital claims and certificates over the network. One can transfer tokens, NFTs, and stablecoins as well with their fellowmen.
- Speedy transfer of assets via ONT ID
One can use the ONT ID to verify and link an email or mobile number to execute the transferring of assets at a much higher rate. They do not have to invest their time in using long wallet addresses like before. In case, a person will not have an ONT ID; they will receive a pop up to download the ONTO solution and create the ID through email or text.
- Data claiming and certifications
ONT users can now use the verified claim feature to own and manage their crucial data. The claims are recorded and stored on ONTO, while the authenticated information will create an exclusive and immutable hash value that will be stored on the Ontology blockchain network.
The new identity verification function has been added to strengthen trust and security on the platform, thereby encouraging more participation from the users. ONT system aims to use these lucrative features to verify different domains, including academic certificates, health, and financial status of the users in the near future.
Third-party verification will be used during the issuance and revocation of claim by individuals, organizations, or entities. The new system is likely to give more data control to the users, thus establishing a trust bond between them and entities using the data.