Ontology is a project originating from China. In recent years, along with the cryptocurrency craze, ONT Coin also achieved significant growth. So what is ONT Coin? Overview of the ONT Coin – Ontology. Let’swith Kienthuccoin find out in the following article.
What is Ontology? What is ONT Coin?
Ontology is a blockchain platform built-in 2017 by Onchain, a Chinese technology company. The platform focuses on solving problems related to the reliability of data in various fields. Specifically in identifying or exchanging, data cooperation, community building, adding many separate applications to suit each particular area.
ONT Coin is the primary Token in the Ontology ecosystem. It is used by applications in most fields such as IoT (Internet of Things), including payments, insurance, finance, software development, healthcare, media, etc.
ONT token distribution:
- 15%: Ontology development team
- 28%: Important partners
- 10% : NEO Council
- 25%: Ontology Ecosystem development fund.
- 10%: Ontology Technical Community Bonus
- 12%: Ontology Community.
How works Ontology
- Step 1: Verify people, assets, things, and organizations.
- Step 2: Verify and create linkage between applications.
- Step 3: Verify and link modules, protocols, development kits, and application interfaces to form various chains.
- Step 4: Link the chains together.
Features of Ontology
- Multi-source human identification system: Ontology users can manage and collect identity data from many different sources such as organizations, businesses, banks, colleagues, friends, and family, etc.
- Multi-source Objects Identification System: The user can register any signing object’s identifier, then check that product.
- Distributed data exchange: This platform provides a distributed data exchange system for all data under the owner’s permission. Such data may be released and traded once all privacy requirements of the producer or owner have been met.
- Distributed collaboration: The allocated data exchange system makes the cooperation process the most transparent.
- Distributed equity management: Distributed equity management system ensures the safety of data circulation and evaluation.
- Distributed Community Management: The distributed community system makes the content and user moderation process straightforward.
- Distributed financial services: The Ontology protocol will provide a strong credit profile through trust and fairness between individuals and institutions.
- Other services: Billing, purchasing, government systems, software development, healthcare, media, insurance, product databases, production standards, etc.
Development Team and Ontology Partners
DaHongFei and Erik Zhang are the two co-founders of NEO and the Onchain company. The Ontology project was started and developed by Onchain company with a core team of 40 people, including experienced programmers and financial experts. In particular, the project’s CEO – Mr. Jun Li, is one of the co-founders and chief technology officer of Onchain.
Some prominent partners:
- Onchain: the Onchain company behind and supporting the Ontology project.
- NEO: After NEO, the ONT token is modeled similarly. ONT token holders will be awarded ONT GAS.
- Decentralized Identity Foundation (DIF): An active partner of the Ontology project, the first Chinese project among big names like Microsoft, IBM, and IOTA…
The economic model of ONT Coin
- Token Name: Ontology.
- Ticker: ONT.
- Blockchain: Ontology Blockchain.
- Token Standard: Updating
- Contract: 0xFd7B3A77848f1C2D67E05E54d78d174a0C850335
- Token Type: Utility.
- Total Supply: 1,000,000,000 ONT.
- Circulating Supply: 876,338,000 ONT (88/100%).
List of exchanges that have accepted ONT tokens: https://coinmarketcap.com/en/currencies/ontology/
Currently, Ontology has released its wallet with the official name OWallet – owned only Desktop version and supports three popular operating systems today: Microsoft, macOS, and Linux.
In addition, you can store ONT on ONTO wallet, O3 Wallet, Trust Wallet, Cobo Wallet…
ONT Coin is the virtual currency of the NEO platform. Therefore, you can also store ONT coin on NEO-enabled wallets, including hardware wallets such as Ledger Nano S and Trezor … or Neon Wallet.
Besides, if you invest in surfing and regularly trade, you can store ONT tokens directly on the exchange you bought.
Through Kienthuccoin’s sharing about “What is ONT Coin? Overview of ONT Coin”, you must have understood well about Ontology and ONT Coin – the main virtual currency of this platform. In general, ONT Coin has quite a potential price and is showing signs of good growth. How do you feel about ONT Coin? Hope you make the right decision when investing in this project.
FAQs about ONT Coin
Which wallet can be stored?
ONT is a virtual currency of the NEO blockchain platform. So you can store ONT coins on wallets that support NEO, including hardware wallets such as Ledger Nano S and Trezor or Neon Wallet.
On which exchange can ONT Coin be bought and sold?
When there is a need to buy or sell ONT virtual currency, investors can trade ONT at many large and small exchanges globally, such as Binance, Gate.io, Huobi, OKEx, Bitbns through the following exchanges pairs ONT/BTC, ONT/ETH, ONT/USDT or ONT/INR. In which, ONT coin trading volume on Huobi and Binance exchanges is the most.
What is the current exchange rate of the ONT coin?
ONC virtual currency was listed on exchanges from March 8, 2018; the price at the listing was 2.62 USD / coin and increased to 3.35 USD / 1 coin after only one day. When writing this article, ONT is showing signs of falling; the price of 1 ONT coin is priced at 1.28 USD.