Ontology
Current price
$0.0519
−3.23%24h
LiveUpdated 24s ago
TodayOntology falls 3.2%, in line with the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour+0.10%
- 24 hours−3.23%
- 7 days−12.24%
- 30 days+3.05%
- 1 year−47.27%
Ontology's move in context
Moving with the market
−3.23% today, close to the whole market (−3.27%). Nothing specific to Ontology stands out in the price.
Trend has turned
−12.2% over 7 days and +3.1% over 30 days: the last week went against the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About Ontology
Overview
Ontology is a high-performance, open-source blockchain platform designed to facilitate a decentralized identity and data sharing framework. Its core mission is to enhance trust among users and organizations by enabling users to have complete control over their data and digital identities. Ontology distinguishes itself through its dual-token system, comprising ONT and ONG, which together power a wide range of applications across various industries. The platform aims to overcome barriers in the digital economy by providing reliable and scalable blockchain solutions while also promoting integration with existing systems, allowing for easy transition onto the blockchain.
Technical Features
Ontology employs a unique consensus mechanism known as VBFT (Verifiable Byzantine Fault Tolerance), which combines aspects of Byzantine Fault Tolerance with traditional Consensus algorithms, providing enhancements in speed and security. This consensus model allows for higher transaction throughput and finality times. Security is a core aspect of Ontology’s architecture, utilizing a multi-layered security model that ensures data integrity and privacy. Additionally, Ontology supports a wide array of programming languages, enabling developers to easily create decentralized applications (dApps) using smart contracts. Its unique feature, the Ontology Smart Contract (OSC) framework, allows for seamless interaction and execution of smart contracts on the Ontology platform.
Use Cases
Ontology is primarily utilized in several key areas, including decentralized finance (DeFi), identity verification, governance structures, and supply chain management. The platform's identity framework allows users to maintain privacy while still enabling verified credentials, which is essential for applications like KYC (Know Your Customer) processes in finance. In governance, Ontology leverages its dual-token model to allow the community to participate in decision-making processes through voting. Its smart contract functionality enables various applications, from financial services to health records management, ensuring secure and efficient transactions across borders.
Development Background
Ontology was launched in 2017 by the Ontology Foundation, founded by a diverse team of blockchain developers and technology experts. It initially gained recognition for its aim to bridge the gap between traditional business models and blockchain technologies through its robust framework. Following its mainnet launch in June 2018, Ontology quickly gained traction in the blockchain community, attracting partnerships with numerous organizations and enterprises looking to implement its technology. Over the years, it has undergone several upgrades and expansions to enhance its capabilities and address user needs.
Community and Ecosystem
Ontology boasts a vibrant and active community of developers, enterprises, and users who contribute to its ecosystem. The Ontology Foundation actively promotes initiatives to educate and support developers, while various partnerships with technology firms, academic institutions, and industries expand its reach. Numerous projects leveraging the Ontology platform are being developed, such as identity verification services, supply chain solutions, and dApps focusing on healthcare and finance, all contributing to a richer application ecosystem.
Future Potential
The future potential of Ontology lies in its innovative technology and its capacity to adapt to various industry needs. As the blockchain landscape continues to evolve, Ontology’s emphasis on decentralized identity solutions and data integrity positions it favorably for mainstream adoption. Upcoming features on its roadmap include improvements in scalability, more extensive integration with other blockchains, and expanded functionalities that cater to DeFi applications. This continued development aims to solidify Ontology's role as a leader in the blockchain space, driving greater trust and efficiency for businesses and users alike.
Ontology market
- Position by market cap among the coins we track.
- #227
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $51.89M
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $0.0515High $0.0553
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $10.92
- Now 0% of itReached 3 May 2018 · Needs +20,945% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 1B ONT
- 100% of max
- Coins that exist now and can be traded.
- The most coins that can ever exist. Some coins have no limit.
- 1B ONT
- The most coins that can ever exist. Some coins have no limit.
Ontology converter
1 Ontology = $0.0519
