Ontology (ONT) Trading Down 11% Over Last 7 Days

Ontology (ONT) traded down 2.4% against the US dollar during the twenty-four hour period ending at 9:00 AM E.T. on April 17th. Ontology has a total market cap of $264.37 million and approximately $59.92 million worth of Ontology was traded on exchanges in the last day. One Ontology coin can now be bought for $0.30 or 0.00000485 BTC on exchanges. Over the last week, Ontology has traded down 11% against the US dollar.

Here’s how similar cryptocurrencies have performed over the last day:

• Ethereum (ETH) traded 1.6% lower against the dollar and now trades at $3,034.82 or 0.04877617 BTC.
• Cardano (ADA) traded down 2.6% against the dollar and now trades at $0.45 or 0.00000718 BTC.
• Avalanche (AVAX) traded 1.6% lower against the dollar and now trades at $33.85 or 0.00054399 BTC.
• NEAR Protocol (NEAR) traded 4.1% higher against the dollar and now trades at $5.40 or 0.00008673 BTC.
• Internet Computer (ICP) traded 0.7% lower against the dollar and now trades at $11.95 or 0.00019212 BTC.
• Uniswap (UNI) traded 3.6% lower against the dollar and now trades at $6.92 or 0.00011123 BTC.
• Cronos (CRO) traded down 1.5% against the dollar and now trades at $0.12 or 0.00000199 BTC.
• Cosmos (ATOM) traded up 0.1% against the dollar and now trades at $8.04 or 0.00012915 BTC.
• Hedera (HBAR) traded 0.2% higher against the dollar and now trades at $0.0788 or 0.00000127 BTC.
• Fetch.ai (FET) traded 2.5% lower against the dollar and now trades at $1.96 or 0.00003146 BTC.

Ontology Profile

Ontology (ONT) is a proof-of-stake (PoS) coin that uses the VBFT hashing algorithm. It launched on November 27th, 2017. Ontology’s total supply is 1,000,000,000 coins and its circulating supply is 875,249,524 coins. The official website for Ontology is ont.io. Ontology’s official Twitter account is @ontologynetwork and its Facebook page is accessible here. 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.

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 possible to buy alternative cryptocurrencies such as Ontology directly using US dollars. Investors seeking to acquire Ontology should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Ontology using one of the exchanges listed above.

ONT/USD price chart by TradingView