Chinese blockchain platforms Ontology and NEO are partnering to create an interoperable protocol in a bid to spur development of the next-generation internet. A press release shared with Cointelegraph on July 18 revealed that the two blockchain firms intend to build an open, global cross-chain platform based on an interoperability protocol that would harness both companies’ strengths. In reorienting the focus of their respective strategies to the task of full-fledged interoperability, NEO will work to develop protocols and components that can support a full spectrum of digital assets and Ontology will continue to build out its decentralized identity framework. Key …

China updated its cryptocurrency rankings on May 23 — with eos retaining the top spot and bitcoin moving up three places. The government-sponsored index assessed each blockchain on three criteria: technology, application and innovation. Joining EOS in the top five was tron, ether, steem and ontology. Despite its dominance in the crypto industry overall, Bitcoin was in 12th place. While it scored well for creativity, it placed behind EOS in the score for basic technology. The rankings were released by the Center for Information and Industry Development in collaboration with China’s Ministry for Industry and Information Technology. This is the …

Enterprise blockchain platform Ontology (ONT) plans to launch a version of the regulated USD-backed stablecoin Paxos Standard (PAX) on its own blockchain. The company announced the news in a press release published on April 27. Per the release, the new token (PAXO) will be based on Ontology’s OEP-4 token standard, which will enable atomic swaps between the Ontology-based main blockchain and other blockchains. This feature reportedly aims to make it easier for institutions and individuals to do business in fiat terms in the Ontology ecosystem. The company claims that PAX “is the first regulated USD stablecoin that ensures open auditing, …

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. As the cryptocurrencies are rising from the bottom, we have started to hear some bullish voices again. Arthur Hayes, co-founder and CEO of BitMEX, expects the price of Bitcoin to reach $10,000 this year. One of the events that can cause the price to move northward is the launch of Bakkt. The digital …