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Ontology (ONT) Price



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About Ontology (ONT)

Created to solve for identity and data issues connected with the Web 3.0, or Web3, the Ontology blockchain touts itself as fast, inexpensive and open to the public.

It's "trust redefined," the project's website says, emphasizing the potential for decentralized protocols to shape the future of digital privacy and security in the context of Web3.

Ontology’s Ethereum Virtual Machine (EVM) provides Ethereum compatibility; further interoperability (via the Ontology Multi-Virtual Machine) remains a priority for the chain.

ONT is Ontology's native asset, undergirding the platform. Ontology actually features a two-token system, as Messari noted, with ONT enabling holders to contribute to the network's security mechanism and participate in governance decisions; ONG, meanwhile, is used to pay transaction fees.

Ontology aims to introduce the blockchain to enterprises sans pre-requisite technical knowledge, removing basic barriers to wider blockchain adoption, Crypto News pointed out.

"Apart from providing support for the services and applications running on its public chains, Ontology also supports the public chains of the applications that have been developed on its framework, and collaboration with various protocol groups," said the Ontology Developer Center.

"The project is concentrated on facilitating self-sovereign identification (ID) and data management," Messari said of the open-source network emerging as a go-to platform for smart contract creation/decentralized application (dApp) deployment.

ONT is becoming associated with peer-to-peer trust innovations, easy to use interfaces and a solid alliance with NEO, said CryptoNewsZ.

How to buy Ontology (ONT)

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