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Ontology blockchain to create private smart contracts through collab with TEEX

www.chepicap.com 07 January 2019 09:00, UTC
Reading time: ~2 m

Ontology blockchain announces a partnership with the computing platform TEEX via their Medium blog post. Through forming this partnership they plan on working together to develop and work on, on-chain data privacy, as well as security and forming secure client private key solutions.

Through their collaboration they plan on using TEEX’s layer-2 privacy preserving computing on the Ontology public blockchain. As a result of this they will create a secure smart contract execution environment, backing the privacy of those taking part through their data and security during on-chain computing.

Dr. Ryan Yu, Co-Founder of TEEX spoke on the importance of forming the partnership:

“Ontology focuses on public chain technology, while TEEX focuses on privacy-preserving solutions. The cooperation between TEEX and Ontology will create the world’s first high performance MainNet with privacy preserving computation and lay a solid foundation for blockchain implementation in the fields of AI, biomedicine, and finance.”

Dr. Xianping Mao, the Dean of the Ontology Research Institute also spoke on the importance of the partnership and what it means to work with TEEX:

“Blockchain is essentially an open system. Anyone can query blockchain data through the public interface. Smart contracts are the carriers of blockchain applications, and the security of private data involved in smart contracts needs to be protected. TEEX has a deep understanding of data security protection technology such as trusted computing. Ontology will explore blockchain security technologies, such as private smart contracts together with TEEX, build functional chains with trusted computing capacity under the Ontology chain network system, and provide users with a blockchain system with safe and efficient private smart contract execution capabilities.”

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