Cryptocurrency Ontology: Overview and Perspectives

The rapid growth of technology based on the blockchain along with ICO projects has resulted in an exponential increase in the variety of cryptocurrencies available on the market. Certain tokens, such as Bitcoin are utilized to settle transactions and settlements while others serve as investment options as well as others that are designed to support one specific project but be a source of income for holders. Today, we will discuss Ontology, a cryptocurrency. Ontology currency is a part to the third class of coins.

Ontology presentation

ONT tokens are required to support the ontology initiative submitted by team Sequence funded by a massive focus in the year 2000. The team’s goal is to eliminate all obstacles to the growth of blockchain across various areas of entrepreneurship and business. The ontology stands out due to its flexibility, which means that it is able to be utilized in everyday life, such as in medicine or the media.

Ontology Ontology cryptocurrency was created using the dBFT algorithm. However, the developers are not ruling out altering the algorithm in the future advancement and improvement of the technology.

What are the benefits of using ontology? The platform will enable small companies and businesses which do not have skilled employees and blockchain-related knowledge to make use of this technology within their operations. This means that it is planned to develop an array of tools to build trust between businesses of various sizes.

Ontology network

The Ontology System will have three levels:

It allows for integration and synchronization with the platform with blockchains of the other developed networks, such as EOS, Ethereum, and QTUM. This will allow companies to utilize NEO tokens, collaborate with applications that are based upon Ethereum smart contracts, and also access the features that other blockchains have. In the present, Ontology already interacts with NEO.

launch APIs as well as protocols that developers can make use of to train blockchains to serve specific needs. Also, the same tools can be used on this scale, which allows users to swiftly and cheaply develop blockchains that are decentralized.

Contact businesses and organizations of different sizes that wish to utilize regulated and controlled blockchain technology. The platform will resemble the consulting company that gives the expertise and the tools required to make blockchain work for the specific business.

Read more the following: Cryptocurrency ByteCoin History storage, mining and history

Storage and purchase

To ensure the security of the initiative, and due to the ban on state-owned companies of ICOs China, The creators of the project chose to drop this method of raising money. Ontology tokens were given for free to users who registered on the website (500 coins per) and to those who attended the event, however, the majority of the ONT was sold through airdrops to prominent exchanges.

The owners of the NEO crypto currency can get it, with the hope of receiving 0.2 ONT for one NEO. At the same there was a sale, of transfer restrictions was put in place on half the funds however the developers of Ontology recently announced the launch of their product.

The moment it was listed on Binance and trading using ONT reached $200 million and then it dropped dramatically, and it appears that the owners of the token chose to dispose of the coin immediately. When it was first launched ONT was priced at less than one dollar. today, the rate of exchange has been set at 4.2 dollars and Ontology cryptocurrency forecasts speak about the possibility of an increase in value.

Ontology can be purchased Ontology in 2018 through a number of prominent cryptocurrency exchanges, such as:

  • Binance – is a coin that pairs together with Bitcoin, Ethereum, and Binance-coin;
  • House It is a combination of Ethereum with Bitcoin;
  • the gate you can buy tokens in exchange for Ethereum as well as fiat dollar
  • OKEx It is used to pair with dollars, Ethereum or bitcoin.

You can keep your money within your wallet with the neon wallet as well as a handful of other wallets that support multi-currency (the number of services that can support ONT is expanding).

Possible problems

The potential for Ontology as well as the hopes of the developers are enormous. If it is successful, the project will transform the entire commercial sector and turn into an internationally-reaching platform. Additionally, the team behind the development has the backing by NEO and Onchain and adequate funding, which will allow us to carry out our ideas in the near term.

Development of projects could become the primary issue of the ontology EOS and Hashgraph operating within the same industry as the giant Google which is planning to offer services that are in”the “blockchain for business” format and will be as simple to compete.

Final

Ontology is a growing cryptocurrency designed to support an exciting project of the identical name. Since its launch, the tokens of ONT have nearly doubled in value and there’s ample reason to anticipate more expansion of the currency. The Ontology platform is a great idea if it succeeds, and could completely transform the world of business and contribute significantly to the spread of blockchain technology on level “street-level”.

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