Ontology (ONT) Price Up 9.4% This Week

Ontology (ONT) traded up 5.9% against the U.S. dollar during the 1 day period ending at 7:00 AM E.T. on August 20th. Ontology has a total market cap of $162.07 million and approximately $1.90 million worth of Ontology was traded on exchanges in the last day. In the last seven days, Ontology has traded up 9.4% against the U.S. dollar. One Ontology coin can now be purchased for $0.18 or 0.00000294 BTC on exchanges.

Here’s how related cryptocurrencies have performed in the last day:

• Ethereum (ETH) traded 2.9% higher against the dollar and now trades at $2,654.94 or 0.04373346 BTC.
• Cardano (ADA) traded 4.2% higher against the dollar and now trades at $0.34 or 0.00000568 BTC.
• Avalanche (AVAX) traded up 6.3% against the dollar and now trades at $22.10 or 0.00036377 BTC.
• NEAR Protocol (NEAR) traded 6.1% higher against the dollar and now trades at $4.11 or 0.00006773 BTC.
• Uniswap (UNI) traded up 3.8% against the dollar and now trades at $6.40 or 0.00010536 BTC.
• Internet Computer (ICP) traded 4.5% higher against the dollar and now trades at $7.41 or 0.00012200 BTC.
• Cronos (CRO) traded up 3.8% against the dollar and now trades at $0.0877 or 0.00000144 BTC.
• Hedera (HBAR) traded 2.7% higher against the dollar and now trades at $0.0547 or 0.00000090 BTC.
• Cosmos (ATOM) traded up 3% against the dollar and now trades at $4.76 or 0.00007831 BTC.
• Algorand (ALGO) traded up 5.9% against the dollar and now trades at $0.13 or 0.00000209 BTC.

Ontology Profile

ONT is a proof-of-stake (PoS) coin that uses the VBFT hashing algorithm. It launched on November 27th, 2017. Ontology’s total supply is 1,000,000,000 coins and its circulating supply is 907,697,857 coins. Ontology’s official Twitter account is @ontologynetwork and its Facebook page is accessible here. The Reddit community for Ontology is https://reddit.com/r/ontologynetwork and the currency’s Github account can be viewed here. The official website for Ontology is ont.io. Ontology’s official message board is medium.com/ontologynetwork.

According to CryptoCompare, “## What is Ontology?

Ontology is a blockchain platform that aims to provide an infrastructure for the development of decentralized applications (dapps) and the integration of various digital systems. It uses a dual token model that consists of the ONT token and the ONG token. The ONT token is the main token used on the Ontology platform, while the ONG token is used to pay for transaction fees and network usage.

Ontology aims to provide a flexible and modular framework for the development of dapps and the integration of digital systems across different industries, such as finance, healthcare, and supply chain management. It uses a combination of smart contracts, identity solutions, and data exchange protocols to enable secure and efficient data sharing and collaboration.

## Who created Ontology?

Ontology was created by a team of developers led by Jun Li, who is also the founder of Onchain, a blockchain development company that has been involved in several blockchain projects in China. The Ontology team includes individuals with backgrounds in blockchain technology, computer science, finance, and other related fields.

## What is Ontology used for?

Ontology is primarily used as a blockchain platform for the development of decentralized applications (dapps) and the integration of various digital systems. The platform aims to enable secure and efficient data sharing and collaboration across different industries and use cases, such as supply chain management, healthcare, and finance.

The ONT token is used as the main token on the Ontology platform and can be used for a variety of purposes, such as staking, governance, and as a means of exchange for services and products offered within the Ontology ecosystem. The ONG token, on the other hand, is used to pay for transaction fees and network usage, similar to gas fees on the Ethereum network.

Overall, Ontology aims to provide a flexible and modular infrastructure for the development of dapps and the integration of digital systems, while using a dual token model to enable efficient network usage and incentivize network participation.

Previously a NEO-based token, the ONT has now launched his mainnet. It will serve as the utility token within the platform.”

Ontology Coin Trading

It is usually not possible to purchase alternative cryptocurrencies such as Ontology directly using U.S. dollars. Investors seeking to trade Ontology should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Ontology using one of the aforementioned exchanges.

ONT/USD price chart by TradingView