Ontology (ONT) Market Cap Hits $248.63 Million

Ontology (ONT) traded 4.8% higher against the US dollar during the 24 hour period ending at 11:00 AM Eastern on January 17th. One Ontology coin can currently be purchased for about $0.27 or 0.00000260 BTC on exchanges. Ontology has a market capitalization of $248.63 million and approximately $27.55 million worth of Ontology was traded on exchanges in the last day. During the last week, Ontology has traded up 10.1% against the US dollar.

Here’s how other cryptocurrencies have performed during the last day:

• Ethereum (ETH) traded 2.8% higher against the dollar and now trades at $3,441.08 or 0.03285967 BTC.
• Cardano (ADA) traded down 1.1% against the dollar and now trades at $1.12 or 0.00001071 BTC.
• Avalanche (AVAX) traded 3.1% higher against the dollar and now trades at $41.16 or 0.00039302 BTC.
• Hedera (HBAR) traded 0.9% higher against the dollar and now trades at $0.37 or 0.00000352 BTC.
• Uniswap (UNI) traded up 3.7% against the dollar and now trades at $14.95 or 0.00014274 BTC.
• NEAR Protocol (NEAR) traded up 6.5% against the dollar and now trades at $5.63 or 0.00005374 BTC.
• Internet Computer (ICP) traded up 2.7% against the dollar and now trades at $11.25 or 0.00010741 BTC.
• Algorand (ALGO) traded down 0.8% against the dollar and now trades at $0.47 or 0.00000451 BTC.
• Cronos (CRO) traded down 0.2% against the dollar and now trades at $0.15 or 0.00000139 BTC.
• Fetch.ai (FET) traded up 4% against the dollar and now trades at $1.40 or 0.00001338 BTC.

Ontology Coin Profile

Ontology (CRYPTO: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 912,697,857 coins. Ontology’s official message board is medium.com/ontologynetwork. The Reddit community for Ontology is https://reddit.com/r/ontologynetwork and the currency’s Github account can be viewed here. The official website for Ontology is ont.io. Ontology’s official Twitter account is @ontologynetwork and its Facebook page is accessible 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 currently possible to buy alternative cryptocurrencies such as Ontology directly using US dollars. Investors seeking to acquire Ontology should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Ontology using one of the aforementioned exchanges.

ONT/USD price chart by TradingView