Ontology

What is the token?

• Ontology (ONT) is a high-performance public blockchain and distributed collaboration platform.

• Designed for trust, privacy, and security in Web3 with decentralized identity and data solutions.

• Supports cross-chain collaboration and Layer 2 scalability.

• Allows businesses to design a blockchain to suit their needs.

Tokenomics

• Uses a dual-token model: ONT and Ontology Gas (ONG).

• ONT is used for storage and transfer of value on the network.

• ONT holders can delegate stakes to the Triones node for governance participation.

• ONG is used for fees and transactions, including smart contract deployment.

Market Data

As of today 27 July 2024, the price of Ontology is ₹18.67 INR, with a 24-hour trading volume of 6968320.62 USD. The market capitalization for Ontology is 183384427.48USD. The circulating supply is 907697857 Ontology, with the total supply also being 1000000000 Ontology.

Token Pros and Cons

Pros:

• Established Team: The project is backed by the OnChain team, known for their work on NEO, which lends credibility and expertise to the Ontology project

• Efficient Consensus Mechanism: Ontology uses a unique VBFT consensus mechanism, which is a combination of PoS, BFT, and VRF, allowing for efficient transaction processing

• Multiple Business Use Cases: Ontology is designed to offer a range of business benefits, making it highly adaptable for enterprises of various sizes

• Strategic Partnership with NEO: Sharing resources with the well-established NEO project could enhance Ontology's visibility and adoption

• Decentralized Identity and Data Solutions: Ontology focuses on providing decentralized identity and data solutions, which are crucial for Web3 applications

• High Speed and Low Cost: The Ontology blockchain is designed to be fast and cost-effective, making it accessible for users and enterprises

• Control Over Identity and Data: ONT ID allows users to protect their identity and data with encryption, giving them full control over their digital footprint

• Cross-Chain Wallet: The ONTO Wallet is a cross-chain wallet that manages digital identity, data, and assets, providing users with complete control

Cons:

• Country of Origin's Stance on Crypto: China's hard-line stance towards cryptocurrencies could pose risks to the project's future

• Potential Clash with NEO: Despite the strategic partnership, Ontology and NEO have similar functionality, which could lead to competition between the two

• Complexity for Users: The technical complexity of blockchain and consensus mechanisms may be challenging for the average user to understand

• Market Sentiment: Technical indicators signal a bearish market sentiment for Ontology, which could affect investor confidence

• Scalability Challenges: While Ontology aims to address scalability, it is an ongoing challenge that many blockchains face and Ontology's solutions will need to prove effective in practice.

Why Should You Invest in the Coin

• Ontology focuses on trust, privacy, and security with a unique blockchain approach.

• The dual-token model supports scalability and efficient transactions.

• Research and risk consideration is important before investing.

USP of the coin

• Focus on trust, privacy, and security with decentralized identity and data solutions.

• Supports cross-chain collaboration and Layer 2 scalability for business-customized blockchains.

The problem the coin is solving

• Addresses trust, privacy, and security in Web3.

• Provides a framework for business-specific blockchain design and regulatory compliance.

• Builds infrastructure for trusted Web3 access through decentralized solutions.

Founder and team background

• Jun Li is a founder with nearly two decades in IT and fintech.

ICO Price

• No traditional ICO; private sale and airdrop to NEO holders and email list subscribers.

Risks Associated with Investing in the Coin

• High volatility and liquidity risks.

• Shorter track record due to recent inception.

• Success depends on adoption by users, enterprises, and developers.

Ontology is a high-performance public blockchain and distributed collaboration platform. It is designed to bring trust, privacy, and security to Web3 through decentralized identity and data solutions. Ontology’s infrastructure supports robust cross-chain collaboration and Layer 2 scalability, offering businesses the flexibility to design a blockchain that suits their needs.

Ontology operates a dual-token model using an architecture that supports scalability and rapid, high-volume, low-cost transactions. The two tokens are ONT and Ontology Gas (ONG). The ONT token serves as the primary means of both storage and transfer of value on the Ontology network. When ONT token holders delegate their stake to a Triones node, they allow that node operator to make proposals and vote on matters of governance on their behalf. Fees and transactions on the Ontology network are paid for using the ONG token. Deploying smart contracts, for example, uses ONG in the process.

Ontology is solving the problem of trust, privacy, and security in the Web3 space. It provides a framework for businesses to design their own blockchain that suits their needs while also ensuring regulatory compliance. Through its decentralized identity and data solutions, Ontology is building the infrastructure to provide trusted access to Web3.

Investing in Ontology could be beneficial due to its unique approach to blockchain technology, focusing on trust, privacy, and security. Its dual-token model supports scalability and rapid, high-volume, low-cost transactions, which could be attractive for investors looking for a blockchain with these features. However, as with any investment, it’s important to do thorough research and consider the risks involved.