Ontology (ONT) – is a high performance public blockchain that has certainly been one of the most profitable coins of 2018, surging from less than a $1 to $10. When it comes to public blockchains, especially at this stage in the market, scalability is a huge issue. No public blockchain can properly scale to enterprise-grade levels in their current form. Oncology addresses that problem by introducing a new high-performance blockchain which serves as a distributed trust collaboration. Primarily, Ontology aims to customize different blockchains for different application scenarios such as distributed digital identity frameworks, distributed data exchange protocols, and more.Ontology is currently ranked at #25 on CoinMarketCap and sits with a market cap of just below $1 billion.
Ontology (ONT) Chart: source: coinmarketcap.com
What separates Ontology from the other coins in the market is the fact that ONT has managed to exponentially increase while every other token faces the bear-blood-bath if 2018. Before this intense spike, Ontology (ONT) was a relatively unknown coin.
Ontology offers a set of high-performance blockchains which come with their own set of distributed ledgers, as well as smart contract solutions. There are many blockchain platforms offering smart contract execution and it is important to ask yourself what makes one project different from the rest. For Ontology, a primary focus is supporting the custom blockchain for users. These chains can be used for different applications and have customizable options for various business solutions. The common modules for the various blockchains are quite interesting to keep on eye on. With multiple distributed scenarios, Ontology hopes to become a major player in the blockchain world and, as of now, has already proven to be a top performer. With a plan focusing on digital identity solutions and data exchange protocols, there is an inserting mix of opportunity for an investor in this project.
The ONT is the cryptocurrency token that runs on the Ontology network. It is the main currency of the Ontology ecosystem allowing for functionality and transparency in terms of accessing various feature across different chains.
On May 29th, Ontology announced a new partnership with Chain of Things (COT). This is Ontology’s first strategic partnership with an internet of things (IoT) hardware platform. The two organizations will seek to build a platform that combines Ontology’s chain network model and COT’s IoT and Intelligent hardware to support community and business-based trust identification transactions and transfers.
— Ontology (@OntologyNetwork) May 29, 2018
COT is a “general-purpose intelligent hardware infrastructure platform based on multi-chain blockchain technology.” COT provides links to IoT intelligent hardware system customization and support services for different types of trust. The hardware platform provider hopes to establish a trust-based identification-of-things as a basis for economic interaction, transaction, and transmission through building a basic system of trust in all things. The partnership is part of Ontology’s ‘entity-based’ strategy to establish connections between businesses and enterprise with distributed digital systems therefore connecting distributed digital services with people, assets, and objects to enhance trust built around cooperation and efficiency.
We Wang, founder of COT commented:
“Through our cooperation, the two parties will jointly promote blockchain technology and applications, and establish a data exchange and digital identity collaboration platform to jointly promote the development and success of a system which fully integrates objects with our digital world.”
Ontology was launched by OnChain – the Chinese tech company which has been building blockchains and Distributed Network Architecture (DNA) to be used in business since 2014. It is the same company which created NEO/GAS. Ontology can be defined as a network of blockchains rather than a single blockchain. It was designed to aid in migrating the registered enterprise platforms onto a distributed ledger without causing any sort of loss. It is true that the Ontology network was built on the NEO platform to connect public smart contracts.
The ONT team behind Ontology did an airdrop on NEO in February. The airdrop was distributed to each Ontology newsletter subscriber. Every NEO holder was given .1 ONT per NEO airdrop and there are indications that more such airdrop events are coming in the future. Major exchanges like Binance, Bitfinex, and Kucoin suppoerted this airdrop from beginning to end. Ontology has proven to be a trustworthy project as it is backed by most of the industries incubators.
Ontology is essentially an NEP-5 token on the NEO blockchain. There is main net set to launch later this year an during this launch, the NEP-5 Ontology tokens will be swapped into ONT tokens on the new Ontology net. This will make ONT a dual-token blockchain similar to NEO/GAS.
Ontology has quickly become a top performing currency as it now ranks in the top #25 biggest cryptocurrencies in the world. It has come a long way from its initial price of less than a dollar. Investors who discovered this coin at least 2 months ago would have 10x’d there investment. It is an exciting time in crypto market and 2018 has proven to be a good year for NEO base token Ontology.