Ontology (ONT)

59 Articles 5 Followers

Ontology (ONT) is a cryptocurrency made by OnChain in 2017. It is a high-performance blockchain/tangle project and distributed trust collaboration platform that aims to bring the blockchain to the enterprise world in a user-friendly way.

Ontology aims to simplify the blockchain space, allowing businesses to use blockchain technology even if they have no prior knowledge of distributed ledgers. This will help businesses and large-scale enterprises increase their efficiency without the need to hire highly specialized blockchain developers.

With the tools provided by Ontology, businesses can create and customize their own high-performance private blockchains right on top of the Ontology network, which will also be interoperable with the Ontology mainchain and other blockchains on the network if needed to be. The fact that Ontology creates separate blockchains for each solution allows the entire network to scale to a very high-performance, something that large-scale enterprises would need on the blockchain. These private/public blockchain will all be able to host dApps and will be secured by a new consensus mechanism known as Verifiable Byzantine Fault Tolerance (VBFT), a new mechanism which powers the Ontology Consensus Engine vis Smart Contracts by combining elements of the Proof of Stake (PoS), Verifiable Random Function (VRF) and Byzantine Fault Tolerance (BFT) consensus mechanisms.

Ontology did not conduct a pre-mine or an ICO, instead, they elected to airdrop 20 million ONT tokens to NEO holders during March 2018. Onchain, the creator of Ontology, has also created the NEO blockchain - although these two projects, ONT and NEO, have been promised as completely seperate entities. 

In this tag you can discover Ontology (ONT) news, price prediction, opinion and analysis created by users.


Unexpectedly, Things are Looking Up this Month End

26 Sep 2023 2 minute read 1 comment Great White Snark

It's that time of month again, where money has to flow into my bank account and out again, to pay my bills (including food and rent). The bad news is that I converted my Cosmos (ATOM) and Ontology Gas (ONG) to fiat so that that can happen. (Thank goo...

What is Crypto Staking and why should you care?

4 Jul 2023 6 minute read 0 comments Great White Snark

Someone recently admitted to me that they don't know what staking is or how to go about it. I found that rather surprising, given that I assumed everyone in the cryptosphere already knew. So, for those of you whom somehow managed to miss that particu...

The Power of Ontology: An Ecosystem Overview

27 Jun 2023 3 minute read 1 comment ChangeNOW

Discover the Ontology ecosystem, an innovative blockchain platform that aims to revolutionize the world of decentralized identity and data solutions, making it accessible, secure, and user-friendly. In this comprehensive guide, we will delve into the...

POTENTIAL USE CASE OF ONTOLOGY IN AFRICA

11 Dec 2022 1 minute read 0 comments chidi

Ontology is a high-performance blockchain platform that provides a scalable and secure infrastructure for building decentralized applications. The ontology blockchain uses a hybrid consensus mechanism that combines both proof-of-stake and proof-of-wo...

Recap of Exclusive AMA: StealthEX Answers Questions from Ontology — Everything You Wanted to Know!

3 Aug 2022 6 minute read 0 comments StealthEX

StealthEX team was invited to take part in Ontology Community AMA – here is the recap in case you’ve missed it! Q1: Could you please introduce your project to Ontology Community? Maria Carola, CMO StealthEX: StealthEX is an instant non-custodial exch...

E&S: ONT, Trust Redefined

28 Mar 2022 3 minute read 2 comments MikeZillo

Hello everyone Publish0x community! Welcome back in this new article of my “Easy & Short Cryptocurrencies Made Accessible” area. In this article we talk about more features of Ontology! In the last E&S article I introduced you Ontology (ONT) and I sa...

E&S Token Review: Ontology (ONT)

20 Mar 2022 2 minute read 1 comment MikeZillo

Hello Publish0x community and welcome back in this new article of my “Easy & Short Cryptocurrencies Made Accessible” area. With this article we are going to introduce the 34th cryptocurrency of this section with the 74th “E&S” article. Today we will...

Project Babylon Commences (and a Certain Man's Word isn't Worth Much)

15 Feb 2022 1 minute read 0 comments Great White Snark

At time of writing, five hours have passed since I successfully unstaked my Ontology (ONT), exchanged it for Solana (SOL) and begun the process of staking it for the next year (twelve months). Whatever is there at the end of the year will get convert...

The PolyNetwork Hack & Avoiding Rekt City

12 Aug 2021 3 minute read 0 comments Jimmython

$611 million was stolen from PolyNetwork, an interoperability project that aims to connect all of the major chains. One of my favorite commenters, Boxmining, was caught in the hack. This is a guy who has been in bitcoin since the retail mining days (...

The Biggest Problems with Crypto

11 Aug 2021 9 minute read 11 comments Dan Druff

  I'm having a little ordeal that I want to share, but here's the list for the TLDR:   Unknown (and high) transaction fees which leads to ⬇️ Leaving behind small balances that are unusable because of ⬇️ Transaction minimums. And it still seems like...