Ontology Review: ONT Still Worth Considering?

0
144

ā–ŗ Complete Review: https://www.coinbureau.com/review/ontology-ont/
ā–ŗ FREE Giveaway: https://www.coinbureau.com/promo/giveaway

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

ā›“ļø šŸ”— Helpful Links šŸ”— ā›“ļø

ā–ŗ Website: https://ont.io/
ā–ŗ Whitepaper: https://ont.io/wp/Ontology-Introductory-White-Paper-EN.pdf
ā–ŗ GitHub: https://github.com/ontio
ā–ŗ Ontology VBFT: https://bit.ly/2Kj5diI

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

šŸ“±ļø Socials šŸ“±

ā–ŗ Official Blog: https://medium.com/ontologynetwork
ā–ŗ Twitter: https://twitter.com/OntologyNetwork
ā–ŗ Ontology: https://t.me/OntologyNetwork

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

šŸ“ Project Overview šŸ“

Ontology is a public platform that was developed in order to remove the barriers between the blockchain and the business sector.

It is a blockchain-as-a-service that is providing corporate users with an easy way to benefit from the benefits of blockchain technology.

āš™ļø Technology āš™ļø

Ontology is not a single blockchain but rather a collection of blockchains.

This unique design was chosen so that it would make it easier for enterprise users to migrate proprietary systems to distributed ledger technology with minimal downtime and disturbance of the systems involved.

Data does not have to be kept on a public ledger with this setup which makes it inherently private.

The Ontology platform can also be used for the development of decentralized applications using programmable smart contracts.

There are over 39 dApps that have already been built on the blockchain.

At Ontology, the sidechains can communicate with each other. This means that the technology could be beneficial to those projects that need to share data privately.

The consensus method used at Ontology is called the VBFT. This is essentially an improved version of the Byzantine Fault Tolerant (BFT) algorithm that was used by Ontology and is currently being used by the likes of Neo.

šŸ’°ļø Token šŸ’°

There is a dual token system on the Ontology blockchain. They have the standard ONT utility token and then they have Ontology Gas (ONG).

ONT is the utility token behind the ecosystem and is used to secure the network. The Ontology Gas functions much like the gas on the Neo or Etheruem blockchain. It is used to pay for transaction fees as well as for executing the smart contracts.

ONT tokens were airdropped to all Neo holders ā€“ 12% of the totally Ontology supply to be exact.

The rest of the token supply was held by the NEO council, the Ontology developers, the core team and institutional partners.

ONT tokens were swapped for the native kind in the launch of the mainnet that took place in July of 2018.

šŸ‘Øā€šŸ’»ļø Team, Partners & Development šŸ‘Øā€šŸ’»

Ontology was built on the Neo platform. In fact, it was created by the same company that founded Neo.

Onchain is the company that was founded by Da HongFei back in 2014 and was the company that originally formed Antshares which is now Neo.

The chief architect and founder of Ontolgy itself is Jun Li. He has a long background in the IT and fintech sector.

The broader Ontology team has been quite active as can be evidenced by the numerous GitHub commits.

šŸ“ˆ Trading & Wallets šŸ“ˆ

ONT is listed on a number of exchanges. Some are well known and reputable while others not so much.

There is strong liquidity for these tokens across the exchanges. There are also strong order books on the individual exchange books.

The gas token, ONG, is also listed on the open market. However, volumes here are much more limited.

Wallet support for ONT is rather quite limited. You currently can use the OWallet on the Desktop or the ONTO wallet if you are going to be using mobile.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

šŸ“œ Disclaimer šŸ“œ

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Ontology #ONT #crypto #Review #Neo

source

LEAVE A REPLY

Please enter your comment!
Please enter your name here