Virtual currency Ontology is a cryptocurrency, coins which are used in the network Ontology. This network was founded in 2017, the year the organization Onchain. The main goal of the team was the organization of the relationship between the cryptocurrency industry and the real world.
The platform Ontology will be used to implement the distributed registry technology to various companies, industrial enterprises and educational institutions. Thanks to this site, all participants will receive the opportunity to interact among themselves. In addition, the network will be to interact with large public Blockchain-project – NEO.
As a core networking technology is used Trust Framework that enables all the participants to Express their trust or distrust of various companies through the vote. This allows you to create a special trust ecosystem.
The distinctive features of Ontology
Ontology is a network with a large number of levels, offering the possibility of cooperation of participating organizations with decentralized software, developed on the basis of NEO, Ethereum, EOS, and several other platforms. Moreover, through the use of a unique Protocol and API organizations and developers have the opportunity to create their own Blockchain solution, thus without addressing for the help to experts. In other words, the founders of the organizations have the opportunity to translate its enterprises on the Blockchain, the network Ontology that acts as a consulting firm.
The promise of the project
Most of the projects focused on the integration of innovative technologies into existing organizations that have a high probability of successful development. However, their usefulness also depends on the creators and marketers.
The success of this project at the moment is directly dependent on the decisions of the government of the PRC, which opposes the development of kryptonyte. However, as soon as the Chinese authorities will reduce the level of pressure on this area the flow of customers to this project will be provided.
According to media reports, in the second half of this year, the Chinese government intends to remove restrictions on the holding of ICO, the cryptocurrency trading platform and other components of the world of virtual currencies.
The purchase of coins ONT
The project uses the coins ONT. They can be sent to other users and be used to pay for certain services. The number of minted coins in total is 1 billion. These tokens were given to the owners of NEO coins in the ratio 1ONT=0,5 NEO. This method of production of coins raises many questions, as it significantly differs from the standard way of issue of coins on the market.
As project NEO, where users get rewarded in the form of Gas coin holders ONT will receive remuneration in the form of ONG, which will be charged for the storage of tokens.
In recent time the virtual currency has been added to the listing on cryptocurrency trading platform Binance. For the first day, the level of capitalization has grown to $ 200 million. At the moment the value of the coins ONT is US $ 1.50.
The project Ontology can be used in many areas of business, and in government. Therefore, its development requires that the whole world has realized the advantages of using the Blockchain. And this will take some time.