Ontology Cryptocurrency Beginner’s Guide

Ontology Cryptocurrency Beginner's Guide

In this article we can find information on ontology cryptocurrency. The ontology has been launched by a Chinese company named Onchain in 2017 and will provide you with a public distribution so that you can access all of its features and access to them and take a major step in managing the conflicts between blockchain and business. Specialty ontology means that it can integrate with you and service your employers without the particular knowhow about blockchain systems. At present, there is not any other choices for experts and entrepreneurs to integrate information about blockchain into their business infrastructure. By using a protected network, you can control the most monopoly privacy rights, data management monopoly and authentication. It seems that the network has been solving the above mentioned issues with its trusted systems.

Ontology Cryptocurrency Features

To describe the characteristics of the ontology cryptocurrency, we shall refer to the explanation of the network owners as below:

“Ontology is a decentralized block chain which syndicates a distributed identity system, distributed data exchange, distributed data collaboration, distributed procedure protocols, distributed communities, distributed attestation, and various industry-specific modules. Together this builds the infrastructure for a peer-to-peer trust network which is cross-chain, cross-system, cross-industry, cross-application, and cross-device.”

All of this can be the narrator’s power infrastructure for a peer-to-peer trusted network. This network together with NEO provide a complementary digital partnership for our world. The team behind the ontology cryptocurrency Exchange is a reputable cryptographic industry leader with a track record of success. And unlike many other big projects, the team is not just about developing the financial industry. Throughout their growth, they have focused on insurance, government, medicine, the IoT and other industries, making it a massive project with great potential.

Ontology Cryptocurrency Trust Network

The following is an illustration of the ontology cryptocurrency trust network. As can be seen, this network consists of four chains.

  • Authenticates people, assets, things and organizations.
  • Proves applications and link them together
  • Verify and link modules, protocols, SDKs and module APIs
  • Different network chains links all the chains together.

As mentioned in the cryptocurrency white paper, “In order to meet the needs of different industries, the design of the network structure is flexible, connectable and easily deploy-able.”

This means that the network is trying to adapt to a wide range of applications. They hope to be a reliable source for verifying things like identity or ownership. Companies like Facebook can easily connect to the network for trust.

 ONT Token

The Token ONT was sent to Neo Holders by Airdrop in March 2018. Among them, 20 million were distributed by the NEO Council to the community. The number of coins available is up to 1 billion ONT tokens, which you will receive ontology GAS (ONG). The ontology cryptocurrency had already granted 1000 tokens to everyone who signed up for their newsletter (now closed). Currently the distribution of tokens is as follows:

  • 12% go to the ontology community
  • 28% for institutional partners
  • 10% to the Neo Council
  • 25% to develop an ontology ecosystem
  • 10% to the Anthology Technical Society Awards
  • 15% to the ontology cryptocurrency core team.
How to purchase and store ONT?

In this section, we explain how to purchase and store ONT. The interesting thing about ONT is that it has never had an ICO. The only way to have the ONT is to keep neo in private currency exchanges or wallets. For each Neo hold, you will receive 0.2 ONT in two stages (50% are can be traded, 50% locked). You can store it on almost all wallets as soon as it’s made, including hardware wallets like the Ledger Nano S and Trezor. You might want to load a wallet like the Neon Wallet that shows the ONT coins.

Result

According to the ontology cryptocurrency White Paper, “Sociologists put less than one hundred trusted people in the society” indicating that it takes time and effort for most people to gain trust and recognition. This network seeks to replace the current long time to create trust and lead us to blockchain trust automation. The cryptocurrency will also work with Neo to bridge the gap between blockchain technology and the real world. While Neo and ONT have similar goals, Neo focuses on digital assets and a global smart economy, while ontology focuses on trust, identity, data exchange, and licenses.

For further information visit the official website

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