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About Ontology
Key Points
- Ontology is a project designed to bring trust, privacy, and security to Web3 through decentralized identity and data solutions.
- The Ontology blockchain is a high-speed, low-cost public blockchain.
- Ontology chose to forego the popular initial coin offering (ICO) model in favor of a series of community distributions and airdrops of its ONT cryptocurrency.
- Ontology launched its own MainNet on June 30, 2018.
- Founder Li Jun established Ontology on November 27th, 2017.
- Ontology offers real-life use cases and allows businesses to build their own blockchain on top of the Ontology blockchain.</li
About Ontology
Ontology is a high-performance public blockchain project and a distributed trust collaboration platform.
Introducing Ontology ($ONT): A Next-Generation Public Blockchain
Ontology is a visionary project poised to usher in an era of trust, privacy, and security in Web3, leveraging decentralized identity and data solutions. By building a robust infrastructure, Ontology enables trusted access to Web3, empowering individuals and enterprises to operate with confidence, knowing that regulatory compliant digital identity solutions prioritize user privacy above all.
The Ontology blockchain is a high-performance, low-latency public blockchain designed to usher in decentralized identity and data solutions for the Web3 era, prioritizing enhanced privacy, transparency, and trust. By providing users and enterprises with the flexibility to craft bespoke blockchain-based solutions tailored to their specific needs, Ontology ensures seamless regulatory compliance. Furthermore, through its Ethereum Virtual Machine (EVM), Ontology guarantees frictionless compatibility with Ethereum, marking a significant milestone in the development of the Ontology Multi-Virtual Machine and paving the way for enhanced interoperability across the chain.
Upon its inception, Ontology opted to deviate from the prevailing trend of initial coin offerings (ICOs), instead adopting a novel approach that entailed a series of community-centric distributions and airdrops of its native ONT cryptocurrency.
This facilitated the swift establishment of both organic price discovery and a fervent community, thereby enabling the project to circumvent subsequent regulatory scrutiny.
For instance, during a brief window, individuals who subscribed to the Ontology newsletter were rewarded with an airdrop of 1,000 free ONT tokens, which subsequently surged in value to $10 per token shortly after being listed on prominent exchanges, including Binance.
Ontology successfully launched its proprietary MainNet on June 30, 2018, and has been operating seamlessly ever since.
The Visionaries Behind Ontology: Meet the Founders
Founded by Li Jun on November 27, 2017, Ontology is dedicated to constructing the infrastructure that facilitates trusted access to Web3, thereby empowering individuals and enterprises to have complete confidence in regulatory compliant digital identity solutions that prioritize user privacy above all else.
As a philosopher with a technical background, Li Jun named the project Ontology, drawing inspiration from philosophical concepts. In philosophical terms, ontology is the branch of philosophy that delves into the nature of existence, being, becoming, and reality. Similarly, in the Semantic Web, a fundamental protocol is also referred to as Ontology. Across both technological and philosophical realms, the term Ontology denotes the foundational infrastructure of things, aligning seamlessly with our vision of establishing a decentralized and credit-based infrastructure.
Unveiling the Uniqueness of Ontology
Ontology presents a diverse array of real-world applications, empowering businesses to construct their own bespoke blockchain solutions atop the Ontology blockchain framework. This affords businesses and enterprises unparalleled flexibility, enabling them to craft tailored blockchains that precisely cater to their unique requirements.
The Ontology chain is meticulously designed with interoperability at its core. The network presently supports a trifecta of virtual machines (Ontology EVM, NeoVM, and WasmVM), effectively dismantling development barriers and providing a familiar ecosystem for those seeking to build upon Ontology. This foundational infrastructure is specifically designed to facilitate seamless, cross-chain development for the burgeoning Web3 landscape.
Providing infrastructure is merely one facet of the solution to the challenges posed by Web3. The user experience is equally vital, and it is in this realm that Ontology is singularly positioned to make a profound impact. The ONTO Wallet offers users seamless cross-chain access, effectively placing the power of Web3 in the palm of their hands. When combined with ONT ID, which empowers users to retain control over their digital identity and data, the result is a truly comprehensive solution. Furthermore, innovative features such as ONT Login, which streamlines registration and password management procedures, demonstrate Ontology’s capacity to provide effortless access to the next generation of the Internet.
What Is the Circulating Supply of Ontology (ONT) Coins?
Ontology boasts a total coin supply of 1 billion ONT, with approximately 80% currently in circulation, underscoring a significant presence in the market.
Upon its inception, the ONT token allocation was distributed as follows: 15% was reserved for the core team, 10% was allocated to the NEO council, 28% was assigned to institutional partners, 10% was designated for the technical community, and 25% was earmarked for the development of its ecosystem.
These tokens underwent a rigorous vetting process and were subject to varied unlocking schedules, spanning a period of two years, culminating at the end of October 2020. For a more in-depth look at its token distribution, click here.
The Security Framework of the Ontology Network: A Robust Defense Mechanism
The Ontology network boasts a fully decentralized architecture, rendering it highly resilient to hacking attempts, which would require a breach of over half of the connected devices to have any significant impact.
Where to Acquire Ontology (ONT): A Comprehensive Guide
Both ONT and ONG have garnered widespread recognition, with listings and support from the world’s premier exchanges, including Binance and OKX.
Associated Resources:
Delve into the world of Ontology Gas (ONG), a cryptocurrency that fuels the Ontology blockchain ecosystem.
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