Module Eight: History of Ontology 

Lesson 1: Beginnings of Ontology (ONT) 

We can trace the history of Ontology back to August of 2017; that’s when founder Jun Li and the OnChain team embarked on redefining the integration with other blockchains, businesses, and governments. 

The founders of the NEO cryptocurrency, Erik Zhang and Da Hongfei, also started OnChain. The two founders closely collaborated with the government to create OnChain. 

This partnership had some people thinking that the Ontology network is actually a project designed to allow the government to get involved in the cryptocurrency industry. 

September 2017, Ontology was launched as an ICO.  

Lesson 2: Initial Coin Offering (ICO) 

The Ontology ICO was unique in that it did not involve selling the initial tokens in the crypto exchanges. Instead, ONT tokens were airdropped to all holders of NEO. 

Early March 2018 Ontology tokens (ONT) were put on sale in the local crypto markets and was priced at slightly more than $2.50. 

During the first few days after launch, the price fell sharply and then rose steadily to reach about $3.50 in early April. 

Lesson 3: The Creator of Ontology 

Jun Li is the founder of Ontology, he partnered with Erik Zhang and Da Hongfei of OnChain to expand the ONT blockchain network. The OnChain development team was considered superior since it consisted of more tech experts and had a good relationship with the Chinese government. 

Li holds a bachelor’s in Computer Science, a Master’s Degree in Communication Engineering, and a Project Management Certificate (PMP). His Fintech and IT experience spans more than 15 years. This experience has proven very important in helping Ontology maintain focus on primary objectives and facilitate rapid growth. 

Lesson 4: OnChain Creators 

Erik Zhang and Da Hongfei, who founded OnChain, contributed substantially to the development of Ontology. 

These two creators of OnChain, who were crypto and finance experts, pursued working with government agencies to simplify the understanding of blockchains and assist with demonstrating their usefulness. 

Erik Zhang previously worked at Orca Digital Inclusive, which he founded in 2005. He has a Master of Business Administration (MBA) degree from the University of Chicago.