Ontology (ONT) – Even though the crypto market has been dependent on Bitcoin’s influence since the January plummeting, the crypto space is an open planetary where the existence of a trailblazer means nothing or does not impede the evolution of new ones even if they were created to counter or bank on the Don’s mistake.
While some coins have been in existence for years, new ones continue to surface, making the crypto space very competitive. When new ICOs (Initial Coin Offering) are tokenized, they begin to compete for survival in the market. Among the newly tokenized altcoins in the market that perceives competitions as a prerequisites to being a king in the market is Ontology (ONT).
Ontology, an Onchain network, is a product of NEO’s parent company, and there are mutual and beneficial complimenting relationships between the OnChain altcoin and NEO.
Although, Ontology has been able to sit on the shoulder of giant NEO to enjoy swift success in the market, but its visions and robust nature has made it lived up to its billings. The combo of the duo has been tagged a huge competitor for Ethereum.
Despite being tokenized on March 8th 2018, the “new high-performance public blockchain project & a distributed trust collaboration platform”, Ontology has been up with different significant developments that will sooner or later put it ahead of its competitors in the crypto space. This made the market competition fiercer and daunting the fathers in the table.
Unlike Bitcoin and some others, Ontology came into existence to solve problems and focus on serving enterprise. It is designed to solve trust issues which enterprise had with Ethereum since they perceive it as an open-sourced network.
In February, when Ontology wanted to raise fund through ICO, it jettisoned the traditional ICO method, and settled for series of airdrops on the NEO blockchain. While the airdrops were disbursed to Ontology’s newsletter subscribers (1000 ONT airdop), NEO DevCon attendees (500 ONT airdrop), and NEO holders (.01 ONT per NEO airdrop), additional airdrops are proposed to occur in the nearest future.
The resilient nature of the altcoin in the market has been massive, growing to be resistant to all impeding forces in the space. While the biggest market bearishness of 2018 massively beefed the market cap and value of most coins in the market, rebellious Ontology project sprung out of the trend.
Advantages Ontology Provides To Enthusiasts And Its Use Case
Ontology stands as a Cryptocurrency that bridges payments between individuals and cooperate bodies, making transitions fast, easy and convenient with meagre or no transaction costs as it eliminates the involvement of intermediary
Indeed, Ontology offers significant and basic advantage to its users. The cryptocoin makes transactions anonymous by securing transactions data when users receive or send money through their wallet.
Ontology, within its niche takes the advantage of being a decentralized network that secures data, store and manage it, and encrypt the data.
Ontology is described as not being a single blockchain, but a network of linked blockchains that fashions to operate like a cloud storage network (i.e. Amazon Web Services), which a number of institutions and governments use to store and manage data, making it a viable and useful tool in the mortgage industry.
Ontology In America?
Ontology performs the responsibility of FIS system for the mortgage operation of the Bank of America, permitting enterprise to operate and control its own data separately from anyone. Other sectors that makes use of ONT includes, hospitals, insurance companies and social bodies.
Ontology’s Latest Developments
Since the altoin surfaced not long, it is yet to get huge developments, partnership and listing in the space when compared to the likes of Ripple. April 4, 2018 marked the announcement of a partnership between the Cryptocurrency and four major venture capital firms which includes Sequoia Capital, China.
Just this month, Ontology introduced the Triones Consensus Membership System that will help the altcoin achieve more decentralization balance, high-performance expansion, and incentives.
Listing On Exchanges
In a recent news, it was aired that Ontology got listed by CoinEgg, a United Kingdom base exchange, and ONT airdrops was supported by the likes of Binance, Huobi.Pro, Bitfinex, KuCoin, Allcoin, Livecoin, and OKEX.
While the Cryptocurrency is eyeing more developments, the altcoin roadmap for the next two year contains huge and enormous ideas that will thrust it in the crypto space.
Features included in the roadmap include the Release of Mainnet, WebAssembly Support which will increase the efficiency of ONT significantly, Smart Contract Support, VBFT Consensus and Oracle Support that will help ONT minimize bugs and compilation errors, and tolerance support, and Network Optimisation and Performance Tuning, among others.
Ontology (ONT) Recent Chart source: coinmarketcap.com
Ontology In The Market
Ranked 27th according to Coinranking, Ontology is doing great in the market with a value price of $7.87 and close to 9 hundred million market cap as at the press time.
In the last 24hrs, Ontology has amassed 6.09% addition to its value and the last 30 days of the altcoin in the market was ushered with a whooping sum of 80.08% increase in value.
In conclusion, despite being recently release, Ontology tries to stands in the face of rough road coupled with fiercely huge market competition. The altcoin has been able to prove itself in the market as a cryptocoin that you can invest in. It is time to HODL Ontology!