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Ontology
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About Ontology

The price Ontology today is 0.824305 USD, and the trading volume in 24 hours - 244,080,057 USD. The crypto asset has grown by 17.99% over the day. Currently, the coin’s market capitalization is 723,679,967 USD, and has 877,927,426 coins in circulation with the max supply of 1,000,000,000 coins ONT.

What is the Ontology (ONT)?

Ontology is a high-performance, open-source blockchain that specializes in digital identity and data. Ontology's unique infrastructure supports robust inter-network connectivity and layer 2 scalability, offering companies the flexibility to develop a blockchain that meets their needs. 

With a suite of decentralized identification and data exchange protocols to increase speed, security, and trust, Ontology's features include ONT ID, a digital ID and DID mobile app used throughout the ecosystem, as well as DDXF, a decentralized data exchange and collaboration platform.

At launch, Ontology decided to abandon the popular initial coin offering (ICO) model in favor of a series of community distributions and airdrop of its ONT cryptocurrency, which began life as a NEP-5 token on the NEO blockchain.

This helped to quickly establish organic pricing and an interested community, and also helped the project avoid subsequent regulatory scrutiny.

For example, for a short period, anyone who subscribed to the Ontology newsletter received a free giveaway of 1000 ONT, which reached $ 10 per token shortly after the token became listed on major exchanges such as Binance.

Ontology launched its own mainnet network on June 30, 2018 and now operates independently of the NEO blockchain.

Who are the founders of Ontology?

The company's founder Ontology developed by Li Jun. In the early stages of development, the project received technical support from some members of the Onchain development team. However, these two projects have always been officially separate developments, pursuing their own goals.

What makes Ontology unique?

The project offers many real-world use cases and allows companies to create their own blockchains on top of Ontology blockchains.

Importantly, Ontology offers startups greater flexibility by allowing them to create customized blockchains according to their specific needs in terms of features such as governance and enhanced privacy, functionality that competitors such as Ethereum and NEO do not have by design.

The ONT chain also helps reduce transaction network fees by generating and distributing free Ontology Gas (ONG) to ONT owners based on their holdings.

Ontology also provides additional features such as smart contracts, cryptographic identity verification (ONT ID), and tokenized data (DDXF) that can be seamlessly transferred between different blockchains.

How many Ontology (ONT) coins are in circulation?

The total number of Ontology coins is 1,000,000,000 ONT, of which almost 80% are in circulation.

At launch, 15% of ONT tokens were allocated to its core team, 10% to the NEO board, 28% to institutional partners, 10% to the technical community, and 25% to the development of its ecosystem.

These tokens went through a rigorous verification process and various unlock periods that lasted more than two years until the end of October 2020. 

How is the Ontology network protected?

The Ontology network is completely decentralized and therefore highly resistant to hacks, which must affect more than half of the connected devices to have an impact.

Summary

  • To own your crypto assets, you need to manage your own private keys.
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  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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