Ontology (ONT) Review, Price, Market Cap and more | Coinopsy

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Ontology (ONT) - Multi-Chain

Ontology is one of the many projects that wants to compete with Ethereum in becoming one of the main smart contract platforms. Ontology is not a single blockchain, but a network..

Market Cap

Name (Ticker)
Ontology (ONT) Price, Market Cap and more | Coinopsy
Price (USD)
$0.771780728056
Rank
21
Active Supply
533.6 million
Total Supply
1.0 billion
Volume(24H)
92.7 million
Market cap
411.8 million
Fun Name
Multi-Chain
Website Links
Social Links
Block Explorer

Ontology (ONT) Chart

Pros of Ontology (ONT)

  • Reliable
  • Trust

Cons of Ontology (ONT)

  • Lots of competition
  • No backing (asset, profits, commodity)

Ontology (ONT) Review | Coinopsy

Public multi-chain project

The Ontology project aims to become a new public multi-chain project and a distributed trust collaboration platform. Ontology was launched in 2017 by a Chinese company called Onchain.

Compete with Ethereum

Ontology is one of the many projects that wants to compete with Ethereum in becoming one of the main smart contract platforms. Ontology is not a single blockchain, but a network of blockchains and it operates like a cloud storage network. 

Cloud Storage 

A lot of businesses and other institutions use cloud storage networks, only accessible to those entities. Ontology wants to become the blockchain for enterprises to fill this need, while having data privacy regulations in place to protect sensitive data.

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Ontology (ONT) ONT Token

ONT, the native token running on the Ontology blockchain, was airdropped to NEO holders in March 2018. From this airdrop, 20 million ONT were distributed to the community by the NEO Council. The total supply is capped at 1,000,000,000 ONT. The ONT token is currently a NEP-5 token on the NEO blockchain. Ontology’s mainnet is expected to launch by the second quarter of 2018. When launched, NEP-5 ONT tokens can be swapped into ONT tokens on the new network.

Ontology (ONT) Collaboration with NEO

Ontology is working together with NEO to bridge the gap between blockchain technology and the real world. NEO and Ontology have similar goals with the difference that NEO is focussing on digital assets and smart contract whereas Ontology is focussing on trust, identity, and data exchange and authorization. Though both blockchains are designed to run as smart contract platforms and host Dapps, trying to compete with Ethereum.

Ontology (ONT) Blockchain for business

The major problem with smart contract platforms like Ethereum, from an enterprise perspective, is that it’s open-sourced, which means major companies are hesitant to trust it with their proprietary data. 

New Tools

Ontology wants to create the tools for corporations to implement trust mechanisms and tailor them to their business needs. Ontology aims to combine a distributed identity system, distributed data exchange, distributed data collaboration, distributed procedure protocols, distributed communities, distributed attestation, and various industry-specific modules.

Ontology (ONT) Aim

The Ontology project aims to become a new public multi-chain project and a distributed trust collaboration platform. Ontology was launched in 2017 by a Chinese company called Onchain and hopes to remove all barriers between the blockchain and the business sector. Ontology wants to help businesses without previous knowledge of distributed networks to use blockchain technology.

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