ONT
Reputation Ratings

ONT

Ontology 5-10 years
Website https://ont.io/
Browser
OTH RELPs
Github
White Paper
Avg Price
-1.31%
1D

$ 0.2105 USD

$ 0.2105 USD

Market Cap

$ 192.576 million USD

$ 192.576m USD

24h trading volume

$ 8.316 million USD

$ 8.316m USD

7d Vol

$ 82.299 million USD

$ 82.299m USD

Circulating supply

905.697 million ONT

Related information

Issue Time

2018-02-26

Platform pertained to

--

Current price

$0.2105USD

Market Cap

$192.576mUSD

Volume of Transaction

24h

$8.316mUSD

Circulating supply

905.697mONT

Volume of Transaction

7d

$82.299mUSD

Change

24h

-1.31%

Number of Markets

256

Github Messages

More

Warehouse

Siddharth Bhansali

Github's IP Address

[Copy]

Codebase Size

3

Last Updated Time

2019-11-05 04:29:33

Language Involved

Python

Agreement

--

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Introduction

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Aspect Information
Short Name ONT
Full Name Ontology Token
Founded Year 2017
Main Founders Jun Li
Support Exchanges Binance, Huobi, OKEx
Storage Wallet OWallet, Ledger Nano S

Overview of ONT

Ontology Token, also known as ONT, is a cryptocurrency that was founded in 2017 by Jun Li. Ontology operates as a high-performance public blockchain and distributed collaboration platform. Its unique infrastructure supports robust cross-chain collaboration and Layer 2 scalability, offering businesses the flexibility to design a blockchain that suits their needs. It uses a dual token (ONT and ONG) model. While ONT is the coin used for staking in consensus, ONG is the utility token used for on-chain services. The ONT token can be stored in various wallets, including OWallet and Ledger Nano S, and can be exchanged on platforms like Binance, Huobi, and OKEx.

Overview of ONT

Pros and Cons

Pros Cons
High-performance Dual token system might be complex for newcomers
Robust cross-chain collaboration Dependent on the overall performance of NEO
Layer 2 scalability Relative newcomer in blockchain
Business-customized blockchain design Success depends on the adoption of its blockchain
Staking opportunity with ONT Uncertainties due to regulatory environment

Pros of ONT token:

1. High-performance: Ontology is designed as a high-performance blockchain. This means that Ontology aims to manage thousands of transactions per second with low latency. It's an ideal feature for businesses and individuals who wish to utilize blockchain for large-volume transactions.

2. Robust cross-chain collaboration: Ontology supports cross-chain collaboration. In simplified terms, it allows different blockchains to interact and work with each other, extending the reach and usability of Ontology's blockchain in the broader digital ecosystem.

3. Layer 2 scalability: Layer 2 scalability refers to solutions created on top of the Ontology main blockchain to increase its capacity. This level of scalability is crucial to handle a larger volume of transactions efficiently, which is a common challenge in blockchain technology.

4. Business-customized blockchain design: Ontology provides a flexible design that allows businesses the freedom to create a blockchain that suits their specific needs. This flexibility can be appealing to enterprises looking for a customizable blockchain solution.

5. Staking opportunity with ONT: ONT token holders can stake their tokens in the Ontology's consensus process, creating an opportunity for individuals and businesses to earn additional tokens in rewards.

Cons of ONT token:

1. Dual token system: The dual token system (ONT and ONG) may confuse newcomers in the crypto universe. Understanding the roles and uses of both ONT and ONG tokens may require time and study.

2. Dependence on NEO: Ontology is deeply connected with another blockchain project, NEO. The performance of NEO can significantly impact the Ontology ecosystem, amplifying its market risks.

3. Relative newcomer: Despite its innovative solutions, Ontology is relatively new in the blockchain industry. As with any new system, there may be inherent risks and unforeseen challenges that could impact its performance and acceptance rate.

4. Adoption of its blockchain: The success of Ontology deeply relies on how widespread the adoption of its blockchain becomes. Slow or limited adoption could hinder Ontology's growth and the appreciation of the ONT token.

5. Regulatory environment: The rapidly evolving regulatory environment in the world of cryptocurrencies add a layer of uncertainty to all parties involved. Changes in regulations or unanticipated legal issues can affect the value and operation of the ONT token.

What Makes ONT Unique?

Ontology's innovation lies predominantly in its unique infrastructure, designed to support high-performance and robust cross-chain collaboration, in addition to offering Layer 2 scalability solutions. Unlike most cryptocurrencies, Ontology provides the flexibility for businesses to design a blockchain that suits their specific needs rather than adhering to a standardized structure.

Another main differentiator is Ontology's dual token system; ONT and ONG. While ONT is used for staking during consensus mechanisms, ONG is utilized as a utility token for on-chain services. This system is different from the single-token system seen in many other cryptocurrencies and is tailored to cater to different functionalities within the Ontology platform.

Despite its relative newcomer status in the blockchain industry, Ontology has displayed a commitment to address common issues in the blockchain field, such as transaction scalability and cross-chain collaboration. However, similar to all cryptocurrencies, Ontology's overall performance is determined by several factors, including market acceptance, regulation changes, and ecosystem growth.

To summarize, Ontologys structure bears certain unique features that differentiate it from other cryptocurrencies, most notably its high-performance capacity, robust cross-chain capability, Layer 2 scalability solutions, dual token system, and customization options for businesses.

What Makes ONT Unique?

How Does ONT Work?

Ontology operates as a high-performance public blockchain and distributed collaboration platform. Its working mode is predicated on a dual token system, employing both Ontology Tokens (ONT) and Ontology Gas (ONG).

ONT is primarily used in staking, which is participating in Ontology's consensus mechanism, a procedure to validate transactions where selected nodes participate in block production. On the other hand, ONG is the functional utility token used for on-chain services; its involuntarily generated over time as new blocks get added to the network.

One of the key principles of Ontologys working mode is recognition of the possibility of interchain and cross-chain scenarios, allowing it to manage heterogeneous chains. It offers robust cross-chain collaboration due to its interoperable protocol groups that coordinate with each other. This design enables different blockchains to interact and work in synergy, extending the reach and usability of Ontology's blockchain within the broader digital ecosystem.

Another unique principle supporting Ontologys operation is the ability to design business-specific blockchains. This flexible design principle permits a business entity to architect a blockchain system that is tailored to their own unique needs instead of sticking to a one-size-fits-all blockchain model.

Ontology also integrates Layer 2 scalability solutions on top of the Ontology main blockchain to enhance capacity and manage a larger volume of transactions efficiently. This approach effectively aids in accommodating increased traffic and alleviating network congestion.

In sum, ONT works based on principles of cross-chain collaboration, flexibility for customization, dual token system, and Layer 2 scalability solutions, thereby offering a unique approach in the landscape of blockchain platforms.

How Does ONT Work?

Circulation of ONT

The price of ONT (Ontology) has experienced notable fluctuations since its inception in 2018. Initially, it achieved a remarkable all-time high of $11.18 in January 2018, reflecting the exuberance of the cryptocurrency market during that period. However, since then, the price of ONT has undergone a significant decline, currently resting at approximately $0.15. These price fluctuations can be attributed to a myriad of factors that influence the cryptocurrency market, including the prevailing market conditions of the broader crypto ecosystem, the level of adoption and engagement by businesses and developers within the Ontology network, and the impact of various news and announcements related to the Ontology project. These variables collectively contribute to the dynamic nature of ONT's price, making it susceptible to both rapid increases and declines in value.

Notably, the cryptocurrency market is known for its inherent volatility, and ONT is no exception. Investors and enthusiasts of ONT must remain vigilant and informed about these influencing factors to make informed decisions within this ever-evolving landscape. As the blockchain and cryptocurrency industry continues to mature, ONT's price fluctuations will likely persist, highlighting the need for a comprehensive understanding of the market dynamics that drive these changes.

Exchanges to Buy ONT

Ontology Token or ONT can be bought on multiple exchanges. Here is a non-exhaustive list of exchanges where one can purchase ONT along with the supported currency pairs and token pairs:

1. Binance: Supports ONT trading pairs with Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Binance Coin (BNB).

2. OKEx: Offers ONT trading pairs with BTC, ETH, USDT, and OKB (OKExs native token).

3. Huobi Global: Provides ONT trading pairs with BTC, ETH, and Huobi Token (HT).

4. Bitfinex: Supports ONT trading pairs with BTC, ETH, and US dollars (USD).

5. Kucoin: Provides ONT trading pairs with BTC, ETH, and USDT.

6. HitBTC: Supports ONT trading pairs with BTC, ETH, and USDT.

7. Gate.io: Offers ONT trading pairs with USDT.

8. Kraken: Provides ONT trading pairs with USD, Euro (EUR), and British pound (GBP).

9. CoinEx: Supports ONT trading pairs with BTC, ETH, USDT, and CoinEx Token (CET).

10. Crypto.com: Offers ONT trading pairs with USDT.

Please note that the availability of specific trading pairs can change over time and may differ between geographies due to local regulations or exchange policies. It is always advised to check the specific exchange for current supported trading pairs.

How to Store ONT?

Ontology Tokens (ONT) can be stored in a variety of wallets that support the Ontology network. Wallets can be broadly categorized into several types: hardware wallets, software wallets, mobile wallets, and online wallets.

Here's a list of wallets suitable for storing ONT:

1. Hardware wallets: These wallets represent the most secure way to store ONT or any cryptocurrency. They are physical devices designed to secure crypto offline when not in use. Ledger Nano S is a popular example of a hardware wallet that supports ONT.

2. Software Wallets: OWallet is the official desktop wallet developed by the Ontology team. This software wallet can be downloaded and installed on a computer. It supports standard wallet management, shared wallet management based on multi-signature technology, and ONT ID, a decentralized digital identity framework.

3. Mobile Wallets: These types of wallets are very convenient for users who want to access their cryptocurrency on-the-go. Several mobile wallets support ONT, including the Ontology ONTO Wallet. This wallet is not only portable but also integrates various Ontology-based applications and supports multiple languages.

4. Online Wallets: These are web-based wallets that can be accessed through any internet browser. Ontology offers the Cyano Wallet, a browser extension that supports ONT. However, online wallets should be used with caution due to the susceptibility to hacking attacks.

When choosing a wallet, it's important to consider the type of activities you'll be conducting with ONT. Investors who need to frequently trade ONT might prefer online or mobile wallets for quick access, while long-term holders might lean towards hardware or software wallets for optimal security. Regardless of the choice, remember to safeguard your private keys at all times to ensure the security of your assets.

How to Store ONT?

Should You Buy ONT?

Ontology Token (ONT) can be a suitable investment for a variety of individuals, from seasoned traders to novices entering the crypto market. However, the suitability really depends on individual risk profiles, investment goals and understanding of blockchain technology:

1. Traders & Investors: These may include experienced individuals familiar with trading crypto or have done comprehensive research and understand the volatile nature of cryptocurrency markets. Traders may also prefer the Ontology network for its unique features like high-performance scalability and robust cross-chain collaboration.

2. Blockchain enthusiasts: People who understand the inherent value of blockchain technology and belief in its long-term potential may find investing in ONT appealing.

3. Long-term investors: Those who believe in the project's fundamentals, its founders, and its vision for robust cross-chain solutions could consider holding ONT as a long-term investment.

Given the potential complexity of the dual token system and its dependence on the NEO ecosystem, it's critical to do thorough research before purchasing ONT tokens. Here's some advice to consider:

1. Do your own research: Understand the tokenomics, founding team, partnerships, and potential uses of the Ontology network. Also, stay informed about the general market conditions and news relating to cryptocurrency regulation.

2. Understand the risks: Cryptocurrencies are volatile and can fluctuate in value greatly. Therefore, only invest what you can afford to lose.

3. Secure your investment: Depending on how you plan to use your ONT tokens (i.e., trading, staking, long-term holding), choose the right type of wallet to store them with utmost security in mind.

4. Stay updated: Keep up with Ontologys developments, partnerships, and new initiatives. This can help you make informed decisions about your holdings.

5. Consult a professional: If you're new to cryptocurrencies or unsure about anything, consult with a financial advisor or experienced trader to help guide you in your investment journey.

Conclusion

Ontology Token (ONT) operates as a high-performance public blockchain and distributed collaboration platform. It is designed to support diverse business applications and real-world scenarios, offering robust cross-chain collaboration and Layer 2 scalability solutions. Through its dual token system, and customizability for businesses, it attempts to provide innovative solutions in the blockchain field.

Ontology's scalability and cross-chain solutions, combined with its option to participate in staking, might render it an interesting blockchain project in the eyes of investors and crypto enthusiasts. Nevertheless, as with any other cryptocurrencies, the appreciation of ONT and the potential to make money relies heavily on various factors, including market dynamics, regulatory environment, advancements in the platform, and overall adoption tendency.

While Ontology's prospects for development seem promising, it's crucial to remember that the future performance of any cryptocurrency is inherently uncertain and speculative. Therefore, potential investors should undertake extensive research, stay updated on the regulatory trends in the crypto sphere and the blockchain platform's developments. Investing in ONT, like with any cryptocurrency, should be done thoughtfully, within one's risk tolerance.

FAQs

Q: What is the primary purpose of Ontology Token, also known as ONT?

A: Ontology Token, or ONT, is designed to function as a high-performance public blockchain and distributed collaboration platform, focusing on cross-chain collaboration and Layer 2 scalability solutions.

Q: What are the unique features of ONT in comparison to other cryptocurrencies?

A: Unlike many cryptocurrencies, ONT offers robust cross-chain collaboration, Layer 2 scalability solutions, a dual token system, and permits businesses to tailor a blockchain to their specific requirements.

Q: Which wallets are suitable for storing ONT?

A: You can store ONT tokens in various wallets including hardware wallets like Ledger Nano S, software wallets like OWallet, mobile wallets like ONTO Wallet, and online wallets like Cyano Wallet.

Q: What exchanges facilitate the trading of Ontology Token?

A: You can purchase ONT on numerous exchanges, such as Binance, Huobi, OKEx, Kucoin, Gate.io, and Bitfinex, among others.

Q: How can the performance and valuation of ONT potentially increase?

A: The performance and value of ONT can be influenced by various factors, including market dynamics, the platform's advancements, the adoption rate of its technology, and changes in the global regulatory environment for cryptocurrencies.

Q: What potential risks are there in investing in ONT Token?

A: Potential risks of investing in ONT include the highly volatile cryptocurrency market, the level of adoption of Ontology's blockchain, its dependency on the performance of NEO, and changes in cryptocurrency regulations.

Q: What is Ontology's stance in the blockchain industry?

A: Despite being relatively new to the blockchain industry, Ontology has positioned itself uniquely by addressing common challenges within the field such as transaction scalability and cross-chain interaction.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

User Reviews

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10 ratings

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leofrost
Ontology (ONT) is a blockchain platform that aims to create a decentralized trust ecosystem. In my personal review, Ontology focuses on providing a framework for building diverse blockchain applications, including identity verification, data exchange, and smart contracts. ONT, the native cryptocurrency of the Ontology network, is used for transactions, participating in the platform's governance, and staking. The project emphasizes collaboration with enterprises to integrate blockchain technology into various industries. Monitoring Ontology's partnerships, developments, and its role in facilitating decentralized identity solutions can offer insights into the ongoing significance of ONT.
2023-11-30 22:53
3
Windowlight
Ontology's commitment to interoperability stands out as a significant advantage. The platform allows seamless communication between different blockchains, fostering collaboration and expanding the utility of decentralized applications. This interoperability is particularly valuable in a blockchain landscape characterized by diversity.
2023-11-22 03:09
6
Dory724
Ambitious project focused on business integration. Still proving itself; long-term success depends on adoption.
2023-11-20 17:43
8
FX1881338422
Don't even get me started on Ontology! Disappointed by it's painful volatility- my portfolio is a rollercoaster!
2023-09-14 14:19
4
Windowlight
Ontology's emphasis on interoperability and identity solutions positions it as a strong contender in the blockchain space, with potential for widespread adoption.
2023-12-22 00:23
8
Ende Tan
The user interface on 本体 is decent and their security pits pretty solid. However, their customer support isn't the quickest.
2023-12-29 13:14
7
Jenny8248
ONT is a blockchain platform focusing on trust, identity, and data exchange. It aims to make blockchain technology more accessible for businesses.
2023-12-19 20:59
9
Dazzling Dust
Ontology provides a diverse range of real-life use cases and offers businesses the capability to build their own blockchain on top of the Ontology blockchain. This approach affords businesses and enterprises increased flexibility, allowing them to design customized blockchains tailored to their specific needs. This adaptability enhances the practicality of Ontology for various applications across different industries.
2023-12-01 08:50
9
collins457
Ont focus on building a trust ecosystem through decentralized identity solutions is crucial for the future of blockchain. The project's commitment to privacy and interoperability is commendable.
2023-12-25 19:45
9
DavidR
ONT is one of my fav coin. cheap and fast
2022-10-25 15:21
0