Review on Ontology by Efughi Lucky

Name: Ontology
Item: Ontology
Rating: 4

September 12, 2018

Although cryptocurrency can be quite complex in general, the Ontology project…

Although cryptocurrency can be quite complex in general, the Ontology project can be even more difficult to understand as the concept is unique! However, I hope I have cleared everything up for you.
If you read it from start to finish, you should now have a good understanding of what the Ontology coin project is and what they are trying to do. You should also have a good idea of how the technology works, along with its advantages and disadvantages.
So, what do you think about the Ontology crypto project? Do you think it will be a success? I think that it has the potential to go mainstream, as it would be ideal for small-to-medium businesses who do not have the expertise to implement their own blockchain.
However, it’s still early days so we will have to wait and see! I really do like Ontology, though, and I thought it was really cool that they have a bunch of free ONT away.
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Pros

Ontology was created in 2017 by a Chinese company called OnChain, which is led by founders Erik Zhang and Da HongFei. OnChain has had huge success in the cryptocurrency industry, as they were also the founders behind the NEO blockchain, which is now a multi-billion dollar project. Essentially, Ontology was created as a way for businesses of all sizes to install blockchain technology within their company, without having to completely change all of their current systems. One of the most interesting things about the start of the Ontology coin journey is that they did not hold an Ontology ICO. Instead, Ontology airdropped (which means transfer for free) their coins to a variety of people, including NEO coin holders and those who subscribed to the Ontology email newsletter! They also received funds from private investors. Simple entry for businesses: Ontology will be ideal for businesses of all sizes as no prior knowledge of blockchain technology is required. Great team: OnChain, the company behind Ontology, have had great success in the blockchain industry already with their NEO project. Limitless potential: The number of industry sectors that would benefit from the Ontology coin is endless. Unique consensus: The VBFT consensus model used by Ontology is unique, combining both speed and safety. Transactions in the thousands per second are hoped to be possible. Bridge between real and virtual: The Ontology blockchain will allow the digital economy to connect with the real-world economy, across multiple blockchains.

Cons

Strict country of origin: Ontology operates in one of the strictest nations for crypto regulation – China. Early days: Although the ONT token has great potential, the project is still in its very early days.