Ontology (ONT) – At the time of writing, Ontology or ONT has a market value price of US$ 7.23 having increased by 1.5% during the last hour. A lot may ask if they should buy or invest in ONT or even perhaps ask what is ONT?
As with many of the emerging and existing digital currencies based on cryptographic blockchain platforms, ONT has a ledger system which is distributed. ONT’s ecosystem involves a smart contract mechanism, P2P network protocol, a modular type consensus protocol and many other features which make it safe, secure and efficient.
ONT Modules, Functions And Applications
The ONT ID which is a decentralized type of identification is based on the W3 DID standards. The system allows authority on autonomy as well as authorization of data with a corresponding digital identity embedded on a cryptographic platform. ONT pay special attention to digital identities and as such, maps the relevant information onto the physical world. Although thoroughly recorded and encrypted, privacy remains intact as ONT’s platform has specific algorithms primarily for that function. This is one of the featured modules and protocols within the ONT platform.
ONT also gives the privilege to its users to have sovereignty over their digital identities. This is an application referred to as ONTO.
Another application within ONT’s platform is called the ONT TSE or Ontology Trust Search Engine. This is simply put, the main portal by which the authentication and integration of various services, assets, and transactions with corresponding individuals or entities happen.
Then there’s the ONT DDXF, the Distributed Data Exchange Network. This application allows users to customize their own data trading marketplace in a safe and secure digital environment.
Those are just some of the modules and applications of ONT which make it an interesting digital currency in the market today. With such features, ONT users can even manage their private digital identities from multiple sources, entities or institutions. Physical objects could also be registered within the network with supervision and authority from its owners. The exchange of data within a distributed exchange platform could also happen given privacy requirements from individuals involved.
ONT Forecast: Multiply Your Investment
Analysts and experts in the crypto universe studied ONT’s algorithms and directional paths closely and the great majority had a common finding. ONT’s market value is almost certain to rise. There is little doubt in their minds and most can safely say that ONT is a great investment opportunity. As forecast by some reliable sites reveal that ONT’s price will rise to the $ 845 USD mark from its current $7.23 USD value by the approximately year 2023, just five years from now. The findings and predictions were made not just by one source and there are close. On a sample scenario, a $100 USD investment on ONT today would be valued at roughly around $11,000 USD just after five years. A lot of traders and investors rely heavily on such predictions. Those who make forecasts most times are very influential and listened to due to the fact that most times they are right. Such is the case with ONT and it only means the crypto market’s interest will definitely grow. For a much nearer forecast, experts say ONT will be priced at around $ 180 USD a year from now which would still be a significant increase.
ONT is currently building up its supporters and a lot are considering ONT as a long-term investment opportunity. Although some say ONT’s price will drop, analysts were quick to answer that yes, all digital currencies or even that of fiat’s prices fluctuate. With these fluctuations are the ups and downs of trends. The important thing is that the long-term trend remains on the upslope with the figures recovering from its cycle fast and holding on to a higher position on the next ones.
ONT is listed in many crypto exchange markets where people can get it by paying in fiat or by using other digital currencies. The ONT developers are expecting a lot more platforms to accept and offer ONT as part of their platforms.
ONT is a “distributed trust network”, described by its developers. ONT started in 2017 but quickly went up the ranks and was even named one of the top 50 Fintech firms based in China., according to KPMG. Jun Li is the creator and CEO of ONT who also happens to be Onchain’s chief architect. Onchain is the parent company of Ontology.
ONT Teams Up With NEO
Recently, NEO, another Chinese giant in the field of cryptocurrencies and blockchain platforms, decided to strike a deal with ONT. Both NEO and Ont signed a MoU or Memorandum Of Agreement for the technical and strategic relationships they will have. ONT’s main focus is around a distributed trust network with digital identity protocols while NEO will contribute its Neo Virtual Machine functions. The NEO apps incorporated with ONT’s functions would prove very valuable and both parties will benefit greatly from the collaboration. The MoU also indicates that both parties will be developing a digital ecosystem with smart contracts which they both support. Data integration of SDKs and APIs will also be closely monitored along with cross-chain researches. Both have also agreed to form a special task force to monitor and ensure that the concerns of the MoU are well attended to. They have also agreed to divert funds dedicated to the research and further development of the blockchain technology with the aim to comply with financial regulations to achieve wide acceptance and promote trust.
— Ontology (@OntologyNetwork) May 14, 2018
With such functions, applications and modules within ONT’s system, many would certainly be interested as to what more it can offer. The positive and optimistic forecasts by experts also give ONT a good light in terms of being an investment worth considering. To date, the demand for ONT is steadily increasing and seems to be following its forecast path. If the trend goes on, the positive and successful forecast for ONT might happen sooner than expected.