Ontology is both a blockchain and a distributed trust platform.
It makes it possible to customise different blockchains to match the need of different applications,
while seamlessly enabling various collaborations, data exchanges and identity verifications between chain-networks.
The project was established in 2018 by founder Li Jun, based in China. It’s compatible with the famed NEO blockchain.
But where NEO focusses more on an economic ecosystem, the Ontology project is a business platform, focussed on
implementing companies into a secure blockchain environment.
Ontology’s mission is to solve the scalability problems in blockchain technology, as well as ensuring the highest level
of decentralisation and safety. Their solution is a method called Sharding which is a way to split a block into smaller pieces.
This will solve the Block Generation Speed, Processing and Storage per Node as well as the Cost of using the Blockchain Network.
Ontology is traded as $ONT on all major exchanges like binance, huobi and kucoin. The $ONT tokens runs on VBFT
(Verified Byzantine Fault Tolerance) and distribute rewards back to the token holder in the form of the tradeble token $ONG,
which is similar to the NEO - $GAS system.
The more $ONT you hold, the more $ONG you will be rewarded. The rewards are distributed continuously.
Be sure though to hold your $ONT tokens in the official Ontology wallet or on an exchange that supports the $ONG delegation.
This project is already in the top 30 projects by marketcap and has enormous potential. With the sidekick advisory role of
NEOs founder Da Hongfei, build by a great solid team, held up by a strong dedicated community and has a sound and realistic
roadmap with a lot offer in the future, I would highly suggest getting in while it’s still early on. Ontology will become one of the
biggest players.
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https://twitter.com/ontologynetworkarticle by Sly West
