What is Ontology coin? The goal of building Decentralized Trust

What is Ontology coin? Known as a decentralized trust ecosystem based on blockchain technology. The platform focuses on solving data reliability issues in a variety of areas.

What is Ontology coin

1 – What is Ontology coin?

Ontology coin denoted ONT, this is a cryptocurrency of the Ontology blockchain project. Initially, when it was first built, ONT was developed to operate on NEO’s blockchain technology platform with the NEP-5 token standard.

On June 30, 2018, after the mainnet was successful, ONT officially moved to operate on its own platform called Ontology Blockchain.

Some basic information of ONT is as follows:

Symbol: ONT.

Blockchain platform: Ontology blockchain.

Token Type: Coin.

Token Standard: OEP-4, OEP-5, OEP-8.

Total supply: 1,000,000,000 ONT.

2 – What is Ontology Gas?

In addition to the ontology coin (ONT), there is also Ontology Gas, symbol ONG, which is a token that works in parallel with the Ontology Coin based on the dual-token mechanism.

ONG is used as the payment cost of operating energy fees (Gas fees) in the Ontology Blockchain ecosystem.

3 – What is ontology?

In November 2017, Ontology was founded by Dahong Fei and Erik Zhang of Onchain company. This is an open Blockchain platform with the goal of building a decentralized trust ecosystem.

Ontology has a cryptocurrency as ontology coin (ONT) which is put into use in fields such as payment, insurance, healthcare, finance, communication, etc.

4 – Features of Ontology

Ontology can collect and manage identity data from organizations, businesses, banks, etc.

Provide a distributed data exchange system that meets the privacy and security of its owners.

Capital management and distributed community management.

The ontology protocol provides distributed financial services.

5 – The development team of Ontology (ONT)

The Ontology project was developed by OnChain – a company specializing in building blockchain and distributed network (DNA) structures for enterprises, in November 2017. Ontology is led by Erik Zhang and Da HongFei – Two co-founders of the famous Chinese Blockchain platform NEO.

Although the NEO project was founded by Erik Zhang and Da HongFei of OnChain, NEO is completely separate from Onchain. Ontology is again a separate company from Onchain and NEO. Of course, Ontology still has the best support from OnChain and NEO.

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