Many investors have heard more than once about cryptocurrency, about its ups and downs, stories of colossal success that are associated with this currency. Before investing in digital currency, you need to understand what it is? Cryptocurrency is a virtual currency, as well as a mutual transfer mechanism with decentralized emission and accounting system. The operation of the system is limited to a distributed computer network, and the overwhelming majority of information about transfers (transactions) does not pass through encryption, but is open. The basic unit of measurement is "coins" or coins. They are used as traditional money, including storage, transfer to third parties, payment for goods or services.

Today we take a look at the reliable currency Ontology, which is one of the cryptocurrencies that allows its owners to receive dividends, similar to NEO. In this review, you can learn more about it and its benefits.

Ontology (ONT) Trading Platform
Ontology (ONT) Trading Platform

What is Ontology? History Ontology

The Ontology project was launched in November 2017 with the support of the Chinese company Onchain. NEO co-founder Da Hongfei is also the CEO of Onchain. NEO and Ontology are working together to create a vast ecosystem that uses blockchain to serve the real economy, he said.

Unlike NEO, which can be written in Java, Ontology has its own Go language.

Ontology was developed by Onchain and is now run by the Ontology Foundation. An Ontology product is DNA that is written in Go and helps other blockchains or even financial institutions create their own high-performance blockchains or even a solution for all blockchains - the so-called cross-chain.

Ontology itself promises to revolutionize the use of blockchain for entrepreneurs, without the need for advanced knowledge in this area. Unlike NEO, which focuses on digital assets, Ontology seeks to verify and authenticate information. Whether it's the identity of people, ownership of property, copyright protection, or the apps themselves. The product provides identity verification and multi-factor verification for people, organizations or objects. All this through Ontology smart contracts.

Ontology does not need to be mined, as is the case with Bitcoin. It was created at the end of 2017, when 1 billion of overloaded ONT tokens were distributed in the ratio:

  • 28% to institutional partners.
  • 25% for the development of the Ontology ecosystem.
  • 15% of the core Ontology team.
  • 12% Giveaway to the Ontology Community.
  • 10% of NEO Board.
  • 10% technical support.

Until mid-2018, Ontology was an NEP-5 token. Since June 2018, Ontology has switched to its own blockchain. ONT is an indivisible coin. Those. The smallest amount you can send is 1 ONT and other integers. This is the same as the NEO cryptocurrency.

Consensus DBFT is used to validate transactions or nodes controlled by a team. When there is a company or a team behind each node. Again, there are similarities to NEO.

Information about Ontology (ONT)
Information about Ontology (ONT)

How Ontology works

The main goal of Ontology is that it does not function as a single blockchain: this technology allows companies to take full advantage of both private and public blockchains.

Ontology cryptocurrency has a modular structure, which allows even users who do not have deep programming knowledge to work with the platform. In addition, the tools offered by the developers allow you to create applications of any complexity.

The Ontology network consists of the underlying Chain Network protocol and the Trust Ecosystem set of tools for building decentralized applications. The task of the main network is to control consensus building, communication between elements, security of operations and scalability.

The Trust Ecosystem module provides the creation of work products for partner companies. The Ecosystem of Trust is divided into four levels:

  • Identification, here the identity of the user and material values \ u200b \ u200bare checked.
  • Licensed, at this level the authenticity of software products is verified. This is necessary to prevent information leakage and block network attacks.
  • Protocol, web modules, and communication protocols are checked for spyware.
  • Structural, provides communication between the components of the Trust Ecosystem.

The division into separate modules provides a comfortable work in the Ontology network for users of any skill level. Just select the module responsible for performing certain tasks.

Of course, you won't be able to work with these tools without special training. But the modular structure of the network makes life easier for novice programmers.

The Ontology cryptocurrency team has developed a unique protection algorithm Verifiable Byzantine Fault Tolerance. That is, they found a way to calculate malicious nodes without compromising the decentralization of the network.

The protocol includes the following components:

  • Long known Proof-of-Stake (proof of stake).
  • BFT.
  • Verifiable random function (VRF).

Smart contracts on the Ontology network are written in C # and Python. To run them, the NEO VM virtual machine is used. They are designated SmartX. This indicates the main idea of ​​the project - the launch of a global platform that is compatible with any ecosystem. The team devotes all working time to this issue. The possibility of adding other popular programming languages ​​such as Java, Go, Rust and making Ontology compatible with top blockchains, primarily with Ethereum, TRON and EOS, is being considered.

Ontology bridges the digital world with the real world, all in a precarious environment. In simple terms, this means that our ability to trust is independent of the intentions of any particular third party.

How Ontology price is determined

On every cryptocurrency network, users send each other digital coins (called tokens). For Ontology of Cryptocurrency, digital coins are abbreviated as ONT. The exchange rate indicates the value of one coin (1 ONT), most often expressed in US dollars (USD) or bitcoins (BTC).

Ontology's price is determined solely by the balance of supply and demand based on several important factors:

  • One of the main advantages of a currency is scarcity. Most digital currencies have a fixed supply, and unlike traditional currencies, no one can issue more than the maximum limit. This means that cryptocurrencies are, by their very nature, a deflationary instrument.
  • In addition, transferring (transactions) of cryptocurrencies can be extremely fast and cheap compared to traditional methods.

In a sense, Bitcoin and cryptocurrencies are supported by the belief in them of society, thanks to the realization that the current currency system is not so reliable.

An important parameter of any cryptocurrency is market capitalization. Market cap indicates the total market value of all cryptocurrency coins in circulation. It is calculated very simply as the total number of coins in existence multiplied by the price of one coin.

Ontology (ONT) trading conditions
Ontology (ONT) trading conditions

What are the advantages of Ontology

Ontology Advantages:

  • Simplicity and convenience of connecting business, easy implementation of blockchain for companies, regardless of their focus. No specialized knowledge required.
  • Strong team. The company has already had a number of successful blockchain projects.
  • Almost limitless possibilities for customizing applications.
  • A unique consensus algorithm that largely eliminates the disadvantages of older methods.
  • Simple and logical integration of the virtual economy with the real world.
How to Buy Ontology (ONT)?
How to Buy Ontology (ONT)?

Where to buy Ontology

You can buy Ontology in India through online exchanges:

  • Binance;
  • OKEx;
  • Bitbns.

The steps in this process should be straightforward. You go to the exchange, register, confirm your email address, photograph your passport and provide your credit card details, or make a bank transfer.

On the trading floors, through a CFD (Contracts for Difference) broker, you can easily buy Ontology. The advantage of this trading method is, for example, that you don’t need to store digital coins in virtual wallets, you don’t need to worry about stealing coins, and most importantly, you can make money even if the value of the currency decreases.

How to Register?
How to Register?

How to start investing in Ontology in India?

CFD trading platforms are great for investing in Ontology in India.

CFD refers to special contracts, the sellers and buyers of which place bets on a decrease or increase in the price of a currency. In this context, the word "rates" means a set of actions by a trader to predict the dynamics of assets in the future.

You can easily and quickly take both long and short ONT positions and effectively place bets on price movements.

Please note that CFDs are traded using leverage, which will help you get more profit. By choosing this method of investing, you will not own coins - you are simply betting on the price movement!

CFDs are very common financial instruments. Opening an account with an ONT CFD broker is very easy. There are many reliable CFD brokers who report their financial performance and are monitored by financial regulators. Opening an account with them is very easy. You need to go through a digital ID verification process and fund your account. Bank transfers and credit card payments are available.

How to Start Investing in Ontology (ONT)?
How to Start Investing in Ontology (ONT)?

Should traders invest in Ontology in India?

Ontology (ONT) has a chance to gain even more popularity - mainly due to its ease of use, because working with the platform is available even for non-professionals. At the same time, the project was technically completed with a very high quality.

By offering trust, identity verification and customizable modules, Ontology is able to create blockchain solutions that fit their current structure.

Ontology was recently accepted as an official Google Cloud partner. The team is helping to create IEEE standards for blockchain, expanding the crypto industry and perhaps the best time for the project is yet to come.

Thanks to its listing on Binance and other major exchanges, Ontology has no liquidity issues. Nevertheless, the price of a token largely depends on the general sentiment in the foreign exchange market, which is still one of the main factors in the growth of the rate of any coin.

How to Open an Account?
How to Open an Account?

How to Buy ONT right now?

Ontology is becoming an increasingly attractive currency for traders who wish to use it as an asset to invest and profit from price differences. Today it is not too late to become a trader and master this area from scratch in order to effectively earn and increase your capital. The broker offers quick registration on its website so that you can complete the training and start comfortable crypto trading on favorable terms. You should try it today!

We wish you success and profitable deals!

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