Price Data, Market Cap & News for Ontology ($ONT) Cryptocurrency

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An Overview of Ontology

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Overview of Ontology

A Brief Introduction to Ontology

Ontology is a unique player in the cryptocurrency world, designed to bring trust, privacy, and security to Web3 through decentralized identity and data solutions. It provides the infrastructure for trusted access to Web3, ensuring users and their privacy are prioritized through regulatory compliant digital identity solutions. Launched in 2018, Ontology has been operating smoothly, providing a high-speed, low-cost public blockchain.

The Creators and Major Contributors

Ontology was established by Li Jun in November 2017. Li Jun, a philosopher with a technical background, named the project Ontology to reflect its role as a basic infrastructure in the decentralized and credit-based digital world. The project has since attracted a passionate community of contributors and developers.

Token Supply

Ontology has a total coin supply of 1,000,000,000 ONT, with nearly 80% currently in circulation. The tokens were distributed among the core team, the NEO council, institutional partners, the technical community, and for the development of its ecosystem. These tokens underwent a strict screening process and various unlocking periods that ran over two years until the end of October 2020.

Purchase Locations

Ontology can be purchased on various cryptocurrency exchanges. One of the most notable platforms where Ontology is listed is Binance. It's important to research and choose a reputable exchange that offers Ontology trading pairs that suit your needs.

Common Uses

Ontology offers a variety of real-life use cases. It allows businesses to build their own blockchain on top of the Ontology blockchain, providing more flexibility to create customized blockchains to fit specific needs. The Ontology chain is designed with interoperability in mind, supporting three virtual machines to break down barriers to development and provide a familiar environment for those wanting to build with Ontology.

Latest News and Developments

Ontology continues to make strides in the crypto world. Its Ethereum Virtual Machine (EVM) ensures frictionless compatibility with Ethereum, marking the first step in the creation of the Ontology Multi-Virtual Machine and further interoperability for the chain. In addition, the ONTO Wallet gives cross-chain access to the user, placing Web3 in the palm of their hands. With features like ONT Login, which simplifies registration and password management procedures, Ontology is well-positioned to provide seamless access to the next iteration of the Internet.

Ontology's Technological Advancements

Ontology has been making significant strides in its technological development. The company recently announced a partnership with bloXmove to enhance its decentralized credentials, allowing users to share personal information securely and privately. This development is expected to automate and secure settlements via bloXmove's BLMX token. Furthermore, Ontology has completed an upgrade to its Explorer, enabling global developers to submit contract source codes for open-source use. This is a significant step towards addressing data security issues by giving users more control over their data.

Ontology's Community and Team Developments

In recent news about Ontology, the company has been actively engaging with its community. Ontology's Head of Community, Humpty Calderon, expressed optimism about the future of the global crypto community despite the challenges of the crypto winter. Ontology also introduced "Staking Fridays," a weekly update of data for Ontology nodes to help community members participate in ecological governance. The company is also seeking to expand its team, with several positions open for potential candidates.

Ontology's Market Performance

While we won't discuss the Ontology price today, it's worth noting that Ontology has been showing resilience in the market. Despite experiencing a fall to an all-time low, Ontology bounced back, indicating a potential for a significant rate of increase if it successfully breaks out from current resistance levels. This resilience is a positive sign for those wondering where to buy Ontology.

Ontology's Future Plans

Looking to the future, Ontology has released its 2021 roadmap for its core projects, including ONT ID, OScore, ONTO, Wing, and SAGA. The company is also expanding its operations in Japan, aiming to spread decentralized technology amongst various classes of investors. These developments indicate Ontology's commitment to advancing its technology and expanding its reach.