Review on Ontology by Saleh Bayramli

What is ontology?

Ontology is an enterprise-level blockchain project that provides a single, secure customer chain designed to protect data and systems. The platform is considered a "private room" on the public blockchain and aims to introduce distributed ledgers to large companies in a usable form. ONT is a cryptocurrency token from Ontology. Introduction to

Ontology

Onchain is a Chinese technology company that has been building blockchain and distributed network architecture (DNA) for enterprises since 2014. After 22 months of development, co-founder CEO Hongfei Da and CTO Erik Zhang created the NEO / GAS blockchain (originally called Antshares) in April 2016. Then, in November 2017, Onchain launched Ontology. There are differences between

Ontology and NEO blockchain. First, although Hongfei and Zhang launched NEO, it is a separate entity from Onchain. Ontology Network is another independent company from Onchain and NEO. Ontology is actually a blockchain network, not a single blockchain project, designed to help migrate proprietary business platforms to a distributed ledger model without harming them.

Both blockchains are designed to operate as smart contract platforms and host Dapps. Each is a direct competitor of Ethereum (think Ontology as Plasma), and they cooperate with each other. From a business perspective, the main problem with Ethereum is that it is open source, which means that large companies are unwilling to trust its proprietary data.

What are ONT and NGO tokens? The total supply of

will be limited to 1,000,000,000 ONT. Ontology ONT has a daily trading volume of more than 50 million U.S. dollars, and USDT is its main trading pair. Other ONT trading pairs include BTC and ETH.

Only 12% of ONT supply is allocated to the Ontology community, while 28% is owned by institutional partners, 10% is owned by the NEO Council, and 35% is owned by Ontology (25% of which is reserved for development and 10% is used for technical community rewards ), the remaining 15% is allocated to the core ontology team.

Binance, Huobi, Bitfinex, KuCoin, Allcoin, Livecoin, OKEX are compatible with ONT airdrops. However, not all of these exchanges support American cryptocurrency investors. If you want to buy ONT, you need to do it on an exchange that supports NEP5 tokens.

Ontology ONT Token due to the

update. That is because the current iteration of the ONT token is actually a NEP5 token on the NEO blockchain. The Ontology mainnet is expected to be launched in the second quarter of 2018. At that time, NEP5 ONT tokens will be exchanged for ONT tokens on the new network. Another ONT airdrop will also take place at the same time as this release. At present, it is not clear whether the NEP5 token will remain active or be withdrawn.