Ontology Network - Hitecher
Ontology Network

Ontology Network

by Ethan Oakes

About the project Ontology Network is a blockchain project created by the Chinese company Onchain in 2017. Ontology is a multi-functional platform designed to create all kinds of projects. The peculiarity...

About the project Ontology Network is a blockchain project created by the Chinese company Onchain in 2017. Ontology is a multi-functional platform designed to create all kinds of projects. The peculiarity...

About the project

Ontology Network is a blockchain project created by the Chinese company Onchain in 2017. Ontology is a multi-functional platform designed to create all kinds of projects. The peculiarity of the startup is that it allows people who do not have serious knowledge of cryptography to use blockchain systems, thereby speeding up the introduction of this technology into ordinary business processes.

Ontology

Ontology ONT

0.838746672076 USD 1.42%)

0,00009837 BTC

rank

24

Market cap

492.64 M USD

volume (24h)

99.18 M USD

Ontology allows its users to create their own blockchains and interact with other networks. For example, NEO, which provides a confidential data storage area, and also has the function of issuing asset management to other entities, verifying identity, and to create custom modules. All this makes this project unique and very useful because it destroys the border between the world of cryptocurrency and everyday life.

Team

Jun Li is the founder and head of the project. He has experience in the field of computer science and engineering and is also an expert on technology and finance.

Honglei Cong is a senior specialist in blockchain technologies, as well as an expert on distributed systems and decentralized consensus algorithms. He previously worked on projects from Cisco and EMC and also developed blockchain architecture for other companies. He is the prizewinner of several Asian programming contests.

Ning Hu is the senior architect of the protocol. Hu used to work on the Halo project. As a Semantic Web specialist he worked on government projects, gaming platforms, and multimedia systems.

Token Economics

Unlike many other projects, Ontology openly did not conduct an ICO. The reason, according to the founder of the project, is excessive government regulation. The sale of tokens started on January 8th, 2018 at a price of 1 ONT = $0.2. The token was added to exchanges in March, at that time 1 ONT was $2.62.

At the moment, the price has fallen to $1.74 per coin, the market capitalization is $356,730,985. In total 1,000,000,000 ONT have been released and 184,206,203 ONT are in circulation.

It is not possible to mine Ontology.

Conclusions

Many people have heard that blockchain is a promising technology that can benefit people. However in practice, users are faced with the complexity of this technology and often do not trust it because they do not understand the details of the privacy mechanisms. But Ontology has managed to combine simplicity and functionality and this makes this project a promising candidate for widespread implementation in business processes.

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Ethan Oakes

Ethan Oakes

Regular Hitecher contributor since 2017, journalist, Master in Economic Security. His interests include programming, robotics, computer games, and financial markets.

All posts by Ethan Oakes

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