Ontology is a high-performance, open-source blockchain specializing in decentralized identity and data. In this article, “What is Ontology?” We will answer the question. In addition, we will touch on other questions about the project.
What is Ontology? What does it do?
Ontology is the blockchain designed for self-sovereign data and digital identity management and integrity. Initially, the focus was on becoming a versatile blockchain-as-a-service (BaaS) project for businesses. However, following this demand and success in digital identification, Ontology has shifted its brand to focus on data integrity and identity security.
What is ONT coin?
ONT coin is Ontology’s native token. Token holders receive management rights by having a say in future offers and updates to the protocol. Additionally, ONT token holders can receive staking rewards for contributing to the security of the network. Users can earn Ontology Gas token (ONG) rewards by locking their ONT tokens on the Ontology platform.
How does Ontology work?
Ontology’s unique infrastructure supports robust cross-chain collaboration and Layer-2 scalability. It offers businesses the flexibility to design an enterprise blockchain that fits their needs. With a suite of decentralized identity and data sharing protocols to increase speed, security and trust, Ontology’s features include ONT ID, an ecosystem-wide mobile digital identity application and DID, and DDXF, a decentralized data exchange and collaboration framework.
Additionally, Ontology’s customizable approach has successfully gained traction. There are nearly 100 decentralized applications (dApps) running on Ontology’s mainnet. Top-performing Ontology-powered dApps include Wing and Unifi Protocol, both decentralized finance (DeFi) projects focused on cross-chain interoperability. Additionally, Ontology has secured a number of high-profile partnerships, including a deal with automaker daimler, to help explore ways to modernize automotive mobility and raise financing using blockchain technology. Ontology is currently developing a minimum viable product (MVP) in collaboration with Daimler. As a pioneering MVP product, Welcome Home combines the superior experience of Daimler’s mobility units with Ontology’s technical superiority, especially regarding decentralized identities and data protection.
What is Ontology? How to get ONT coins?
Ontology is currently traded on numerous cryptocurrency exchanges. People who want to invest in the project should open an account in one of the exchanges where the project is traded. The exchanges where Ontology is traded are listed as follows: Binance, OKX, MEXC, BingX. Users who want to invest in the project should open an account on one of these exchanges.
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