What Is Ontology Network (ONT) | Is It Worth Investing In 2018?

Blockchain Technology is revolutionary indeed but implementing it within the existing working framework is quite difficult let alone if that business have extensive knowledge about Blockchain and how it works.

Implementing a Blockchain is not everyone's cup of tea. A company/corporation/individual implementing Blockchain technology must have extensive knowledge about it otherwise, it will not work altogether. But now a project has arrived which allows businesses with no previous knowledge of Blockchain to implement and work with it with only some degree of knowledge about Blockchains.

Ontology (ONT) is revolutionary in the sense that it allows businesses without previous knowledge of distributed networks to use blockchain technology. Currently, there's no way for Business to integrate Blockchain within their existing infrastructure without having previous knowledge about it.

Let's discuss it in details:

What is Ontology (ONT)?

As per Ontology's own words:

“Ontology is a blockchain/distributed ledger network which combines 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.”

Ontology is a public platform launched by a Chinese company OnChain in 2017. It is open to businesses of all shapes and sizes and focused on removing barriers between businesses and Blockchain Technology.

With the Ontology tools, a business can implement a trust mechanism within their existing infrastructure and can mold it as per their business needs. Ontology is providing a simple and efficient solution for every business out there to implement Blockchain without any hassle.

How Ontology (ONT) Trust Network Works?

Ontology's Trust Network is simple and divided into four chains:

Chain 1: Verify people. wealth, corporations, organisations and things.

Chain 2: Verify applications and link them together.

Chain 3: Verify and link protocols, SDK's and API's

Chain 4: Link all the chains within the network.

Basically, Ontology trust system is focused on providing a simplistic solutions to the business and be Globally adaptable for wide range of functions.

Ontology (ONT) Token Framework

Ontology never conducted a pre/public sale and it was airdropped to NEO holders in March 2018. Around 20 Million ONT Tokens got distributed into the community.

ONT tokens has a total supply of 1 Billion and holders will get ONT Gas by holding ONT tokens in their wallet.

ONT Tokens Statistics

As we can see above, ONT has a market capitalisation of $1.29 Billion with a total supply of 1 Billion ONT tokens.

Current price : $8.53

Verdict

Well, Ontology grew too fast in market capitalisation. The fact that it was airdropped, its price flew since the moment ONT tokens it the exchanges. With a solid team and a great company behind the project plus a partnership with NEO guarantees its success in Crypto space.

Although, from the investor's point of view, Ontology might turn out to be a great investment opportunity but right now, I believe, its price is too high to enter. Ontology's Mainnet is going live on 30th June 2018.

Thanks for reading ....!!

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