Ontology Reaches Market Capitalization of $155.82 Million (ONT)

Ontology (ONT) traded 9% lower against the US dollar during the 1 day period ending at 10:00 AM E.T. on October 26th. One Ontology coin can currently be purchased for about $0.17 or 0.00000257 BTC on cryptocurrency exchanges. Over the last seven days, Ontology has traded down 12.1% against the US dollar. Ontology has a market cap of $155.82 million and $7.21 million worth of Ontology was traded on exchanges in the last 24 hours.

Here’s how other cryptocurrencies have performed over the last 24 hours:

• Ethereum (ETH) traded down 4% against the dollar and now trades at $2,454.48 or 0.03676309 BTC.
• Cardano (ADA) traded down 5.5% against the dollar and now trades at $0.33 or 0.00000489 BTC.
• Avalanche (AVAX) traded 5.4% lower against the dollar and now trades at $25.22 or 0.00037770 BTC.
• NEAR Protocol (NEAR) traded down 8.8% against the dollar and now trades at $4.19 or 0.00006277 BTC.
• Uniswap (UNI) traded 8.2% lower against the dollar and now trades at $7.40 or 0.00011076 BTC.
• Internet Computer (ICP) traded down 8.8% against the dollar and now trades at $7.60 or 0.00011380 BTC.
• Cronos (CRO) traded 2.7% lower against the dollar and now trades at $0.0727 or 0.00000109 BTC.
• Hedera (HBAR) traded 8.3% lower against the dollar and now trades at $0.0474 or 0.00000071 BTC.
• Cosmos (ATOM) traded down 8.1% against the dollar and now trades at $4.35 or 0.00006518 BTC.
• Fetch.ai (FET) traded 8.7% lower against the dollar and now trades at $1.21 or 0.00001815 BTC.

Ontology Coin Profile

Ontology 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 message board is medium.com/ontologynetwork. Ontology’s official Twitter account is @ontologynetwork and its Facebook page is accessible here. Ontology’s official website is ont.io. The Reddit community for Ontology is https://reddit.com/r/ontologynetwork and the currency’s Github account can be viewed here.

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 US dollars. Investors seeking to acquire Ontology should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Ontology using one of the exchanges listed above.

ONT/USD price chart by TradingView