Ontology (ONT) Price Down 13.2% This Week

Ontology (ONT) traded down 2% against the dollar during the 1-day period ending at 17:00 PM Eastern on June 23rd. Over the last week, Ontology has traded 13.2% lower against the dollar. One Ontology coin can now be bought for approximately $0.21 or 0.00000324 BTC on major exchanges. Ontology has a market cap of $187.05 million and $5.93 million worth of Ontology was traded on exchanges in the last 24 hours.

Here’s how related cryptocurrencies have performed over the last 24 hours:

  • Ethereum (ETH) traded 2% lower against the dollar and now trades at $3,424.56 or 0.05374363 BTC.
  • Cardano (ADA) traded down 0.5% against the dollar and now trades at $0.38 or 0.00000603 BTC.
  • Avalanche (AVAX) traded down 2.5% against the dollar and now trades at $25.06 or 0.00039326 BTC.
  • Uniswap (UNI) traded 0.3% higher against the dollar and now trades at $9.87 or 0.00015497 BTC.
  • NEAR Protocol (NEAR) traded up 1% against the dollar and now trades at $5.19 or 0.00008139 BTC.
  • Internet Computer (ICP) traded down 3.3% against the dollar and now trades at $7.96 or 0.00012498 BTC.
  • Hedera (HBAR) traded down 0.4% against the dollar and now trades at $0.0775 or 0.00000122 BTC.
  • Cosmos (ATOM) traded down 0.2% against the dollar and now trades at $6.73 or 0.00010559 BTC.
  • Cronos (CRO) traded down 1.2% against the dollar and now trades at $0.0919 or 0.00000144 BTC.
  • Fetch.ai (FET) traded down 3.8% against the dollar and now trades at $1.42 or 0.00002228 BTC.

About Ontology

ONT is a proof-of-stake (PoS) coin that uses the VBFT hashing algorithm. It was first traded on November 27th, 2017. Ontology’s total supply is 1,000,000,000 coins and its circulating supply is 905,697,857 coins. The official message board for Ontology is medium.com/ontologynetwork. Ontology’s official Twitter account is @ontologynetwork and its Facebook page is accessible here. The official website for Ontology is ont.io. 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.”

Buying and Selling Ontology

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

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