Review on Ontology by Paul Maduagwu
Ontology is changing the game.
ONT keeps developing and trying to be more unique and I commend that. It can reach over 4,000 TPS per second which is pretty good for running smart contracts.
Ontology uses a dual token model. ONT can be used for staking and releases ONG periodically. ONG is a utility token used for on-chain services.
ONT recently had an upgrade of their Ontology 2.0 network. The upgrade will include a number of community led integrations to it's mainnet, and discontinuation of Neo Enhancement Protocol 5 (NEP5) based tokens.
They partnered with popular crypto Exchange Binance, to make sure the swap process was simple for users, which I commend too. Overall ONT has a good developer community and followership. Their technology is improving, I will hodl ONT long term.
Ontology uses a dual token model. ONT can be used for staking and releases ONG periodically. ONG is a utility token used for on-chain services.
releases
Pros
- Already in mainnet.
- Support for nft.
- User friendly mobile wallet.
- Good support by Exchanges and Wallets.
- Large community.
- Dual token (ONT and ONG).
- Staking support.
Cons
- Need ONG as gas to send ONT.
- Staking halted from major wallets due to recent upgrade.
New products
Comments (2)
July 16, 2020
The fact that staking was halted is bad indeed. Nevertheless i think it's just a temporary situation.
I'm missing your own experience with ONT in your review. Did you have experience with their products, their coin or their staking mechanism?
July 16, 2020
We know that stacking has quickly emerged as a great way for crypto users to make crypto passive income with minimal setup. You need to understand the whole concept, it is not limited to dual token system or stacking, It is a high-performance blockchain that focuses on solving issues related to identity security and data integrity.
