Ontology Reaches Market Capitalization of $177.00 Million (ONT)

Ontology (ONT) traded 0.6% lower against the dollar during the twenty-four hour period ending at 22:00 PM E.T. on October 16th. Over the last seven days, Ontology has traded 8.9% higher against the dollar. Ontology has a total market cap of $177.00 million and approximately $5.47 million worth of Ontology was traded on exchanges in the last 24 hours. One Ontology coin can now be purchased for about $0.19 or 0.00000287 BTC on major cryptocurrency exchanges.

Here is how similar cryptocurrencies have performed over the last 24 hours:

• Ethereum (ETH) traded up 0.8% against the dollar and now trades at $2,640.43 or 0.03891217 BTC.
• Cardano (ADA) traded 0.9% lower against the dollar and now trades at $0.35 or 0.00000523 BTC.
• Avalanche (AVAX) traded up 0.8% against the dollar and now trades at $28.23 or 0.00041600 BTC.
• NEAR Protocol (NEAR) traded 0.2% lower against the dollar and now trades at $5.02 or 0.00007396 BTC.
• Uniswap (UNI) traded down 2.4% against the dollar and now trades at $7.63 or 0.00011241 BTC.
• Internet Computer (ICP) traded 1.4% lower against the dollar and now trades at $7.96 or 0.00011735 BTC.
• Cronos (CRO) traded 0.9% higher against the dollar and now trades at $0.0790 or 0.00000116 BTC.
• Hedera (HBAR) traded down 6.6% against the dollar and now trades at $0.0536 or 0.00000079 BTC.
• Cosmos (ATOM) traded 0.3% lower against the dollar and now trades at $4.46 or 0.00006577 BTC.
• Fetch.ai (FET) traded down 0.9% against the dollar and now trades at $1.44 or 0.00002120 BTC.

About Ontology

Ontology (ONT) is a proof-of-stake (PoS) coin that uses the VBFT hashing algorithm. Its genesis date was 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. Ontology’s official website 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.”

Buying and Selling Ontology

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

ONT/USD price chart by TradingView