Ontology partners with TEEX to create smart contract network

Ontology is a public blockchain based project that enabled “distributed trust” through its platform. The platform is now working on the Trusted Execution Environment (TEE) based smart contract solutions.

Ontology has patterned with TEEX a TEE enabled blockchain based execution platform operating in the public blockchain domains. The partnership aims to deliver more secure operations using the TEE platform.

The protocol transforms the host hard disk into a black box comprising nothing but the host computer. The beauty of the technology lies in the complete isolation of the data even from other computers using the same operating system.

The data is placed in TEE enabled environment that would allow the administrative users to cross verify and check whether a request is valid with proper keys. It goes without saying that the environment makes it virtually impossible to access the data without the proper key.

The Ontology would be leveraging a specific protocol, owned by TEEX the layer-2 privacy-preserving computation for its smart contract solution in the TEE environment. This would where allow users to interact for a smart contract it would also keep the data secure and private from one another.

The solution, dubbed “secure client private key solutions” by the platform, does not carry a timeline for the project. However, it is believed to improve contract services in artificial intelligence (AI), biomedicine and finance sectors more specifically and governance area in general.