Waves Partners With Ontology to Build the DeFi Ecosystem

Waves announced a new partnership with Ontology on its blog. The goal of the collaboration is to tackle the DeFi challenges as Ontology and Waves share a common vision to develop cross-chain integration that will allow both blockchains to communicate with each other. In addition, the collaboration will enhance the collective ecosystem functionality of both companies.

Ontology will act in the Waves ecosystem as one of the target chains for Gravity, a decentralized oracle network independent of blockchains. Ontology will also provide Waves with valuable data related to cross-chain and token transfer data and external data from oracles or dApps built on Ontology.

All types of cross-chain communications are available thanks to Gravity, whose communicative protocol enables DeFi and DApps interchain solutions to create next-generation Web 3.0 applications. Thus, Waves, together with Ontology, will provide developers with a new infrastructure to create DApps compatible with these blockchains.

Image: Crypto Street