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April 23, 2018, 07:54:18 PM |
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Despite the fact that the market wasn’t showing many green signs the last weeks, Ontology was performing increasingly well. A good reason to get in to it.
First of all what is Ontology?
Ontology is launched by the Chinese company Onchain in 2017. Ontology is a blockchain platform for decentralized trust systems in corporations. They aim to provide a big step toward removing barriers between the blockchain and business sector.
Ontology is a new project works with a focus on ‘’The tree dimensions of Trust’’
Trust is a key component in human organization and social collaboration. Trust has become the core requirement of social and economic partnership that has been built up trough technology 1⃣, law 2⃣ and community throughout history. Ontology tries to digitize trust in many different forms.
Ontology is trying to create a platform which creates a trustless ecosystem on many different levels. Why is this so important? Currently, trust networks face quite a variety of issues. Poor privacy protection, untapped data value, data management monopolization and ineffective identity authentication are all opportunities for blockchain.
For Ontology, the creation of its own platform is right now going through the testnet stage, as users are adding and testing nodes. The active testnet is a rare feature, as new projects sometimes take months before launching this stage. Recently, Ontology released its open-source project on GitHub, and plans to draw developer talent to improve its public blockchain infrastructure.
However the ONT tokens are still in the price discovery stage, it has the potential to follow similar projects like NEO or QTUM. There will be a max supply of 1 billion ONT tokens which are indivisible, and you’ll get Ontology GAS (ONG) from holding ONT (similar to how NEO GAS functions).
There are a few reason why this coin might be a nice long term investment. First of all they are very focussed on providing the real business world a lot of benefits by their product, so it seems to be a solid plan for cutting another barrier between real world and blockchain. Secondly, the collaboration with a solid project as NEO provides Ontology from decent knowledge and technology. As shown above you can read that you also get Ontology GAS (ONG) from holding ONT. Last but not least, trust is in many ways a missing factor especially in the blockchain industry. If they can implement it as they aim, they might provide a big benefit to real world and the blockchain industry.
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