Ontology
ONT Rank 339 Rank 339
$0.074841 (-5.14%)

Ontology ONT price:

$0.074841 (-5.14%)
1h-0.80%
24h-5.14%
Week+0.03%
Month+15.18%
Year-50.85%
ETH 0.000032 (-4.15%)
BTC 0.00000096 (-5.47%)
$0.074525 24h Range $0.079325
The live Ontology price today is $0.074841, with a 24-hour trading volume of $9,508,099.37. ONT has changed -5.14% in the last 24 hours.

Ontology (ONT) Metrics

Basic info
Website
Asset type
Explorers
Market Cap Rank 339
$68,381,708.00 BTC 880.00
All Time High
$11.18 03 May 18 % to ATH (14,895.70%)
Volume (24h) Rank 247
$9,508,099.37 BTC 122.31
Circulating Supply
Update supply form
913,697,857 Total:1,000,000,000

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Ontology (ONT)

What is Ontology?

Ontology (ONT) is a blockchain project launched in 2018 by the Ontology Foundation. It aims to provide a high-performance, public blockchain specializing in digital identity and data integrity, catering to both enterprise and individual use cases. The Ontology network operates on its native blockchain using a variation of the Byzantine Fault Tolerance consensus mechanism to ensure fast and secure transactions. The ONT token plays a crucial role in the ecosystem, serving as a utility token for staking and governance, as well as for transaction fees. Ontology's dual-token system also includes the ONG token, which is used for on-chain services. Ontology distinguishes itself by focusing on identity and data solutions, providing tools for decentralized identity verification and data management. Its flexible architecture and compatibility with various blockchains make it a notable player in the blockchain space, particularly for applications requiring strong privacy and security measures.

When and how did Ontology start?

Ontology originated in November 2017 when it was launched by the Chinese company Onchain, founded by Da Hongfei and Erik Zhang. The project quickly released its whitepaper, outlining its vision for a high-performance public blockchain and a distributed trust collaboration platform. Ontology's testnet went live in March 2018, allowing developers and users to engage with the network and test its capabilities. The mainnet launch followed in June 2018, marking Ontology's transition to a fully operational blockchain network. The initial distribution of Ontology's native token, ONT, was unique in that it did not involve an ICO. Instead, the tokens were distributed through a series of airdrops and community rewards, as well as allocations to strategic partners and the founding team. These early steps laid the groundwork for Ontology's development as a versatile and scalable blockchain platform.

What’s coming up for Ontology?

According to official updates, Ontology is focusing on several key initiatives. One of the upcoming milestones is the launch of Ontology EVM (Ethereum Virtual Machine) integration, planned for Q4 2023. This feature is aimed at enhancing interoperability between Ontology and Ethereum, allowing developers to deploy Ethereum-based smart contracts on the Ontology blockchain. Additionally, Ontology is working on improving its decentralized identity framework, ONT ID, with enhancements expected by early 2024. This upgrade seeks to bolster user privacy and data security. Moreover, Ontology is targeting the expansion of its ecosystem through strategic partnerships and integrations with various decentralized applications and platforms. These efforts are part of a broader strategy to increase the utility and adoption of the Ontology network. Progress on these initiatives can be tracked through Ontology's official channels and repositories, ensuring transparency and community engagement.

What makes Ontology stand out?

Ontology stands out through its unique multi-layered architecture, which includes a dual-token model with ONT and ONG tokens. This design facilitates efficient transaction processing and governance. Ontology employs a robust consensus mechanism called VBFT, which combines Verifiable Random Function (VRF), Byzantine Fault Tolerance (BFT), and Proof of Stake (PoS) to enable high throughput and low latency, enhancing scalability and security. A key differentiator for Ontology is its focus on digital identity and data privacy, supported by its decentralized identity framework, ONT ID. This feature allows users to have control over their data and identity, promoting trust and privacy in digital interactions. Ontology's interoperability is another significant aspect, achieved through its cross-chain capabilities, allowing seamless integration with other blockchains. The ecosystem is further enriched by partnerships with notable organizations and a suite of developer tools, fostering a collaborative environment that enhances Ontology's role in the blockchain landscape.

What can you do with Ontology?

The ONT token is primarily used for transactions and fees within the Ontology network, allowing users to send value and utilize decentralized applications (dApps). Holders can stake ONT to help secure the network and potentially earn rewards, contributing to the network's Proof-of-Stake consensus mechanism. ONT holders may also participate in governance by voting on proposals that affect the network's development and policies. Developers can leverage Ontology's infrastructure to build dApps and integrations, utilizing tools like the Ontology SDK. The Ontology ecosystem supports various applications, including wallets and marketplaces, where ONT is used for specific functions such as payments and access to services.

Is Ontology still active or relevant?

Ontology remains active, as evidenced by recent updates and ongoing development efforts. The project released a significant upgrade in August 2023, focusing on enhancing its decentralized identity and data solutions. Ontology continues to be integrated across various blockchain ecosystems, maintaining its relevance in sectors such as decentralized finance (DeFi) and data privacy. The project is actively traded on multiple exchanges, maintaining a steady market presence. Ontology's governance structure remains engaged, with recent proposals and votes indicating an active community. These indicators demonstrate that Ontology continues to be a relevant player in the blockchain space, particularly within the identity and data management sectors.

Who is Ontology designed for?

Ontology is designed for enterprises and developers, enabling them to build and deploy decentralized applications with a focus on identity and data management. It provides tools and resources such as SDKs, APIs, and a comprehensive documentation portal to facilitate development. The platform’s infrastructure supports enterprise-level blockchain solutions, offering features like customizable public and private blockchains to meet diverse business needs. Secondary participants, such as validators and data providers, engage through staking and governance mechanisms, contributing to the network's security and decision-making processes. This structure allows Ontology to cater to a wide range of industries looking to leverage blockchain technology for secure and efficient data handling.

How is Ontology secured?

Ontology employs a Byzantine Fault Tolerance (BFT) consensus mechanism specifically known as the Ontology Consensus Engine (OCE), which is a variant of the VBFT model. This combines Verifiable Random Function (VRF), Byzantine Fault Tolerance (BFT), and Delegated Proof of Stake (DPoS) to secure the network. Validators, who are chosen based on their stake and reputation, play a crucial role in confirming transactions and maintaining the blockchain's integrity. The network utilizes cryptographic techniques such as EdDSA (Edwards-curve Digital Signature Algorithm) for secure transaction signing and data integrity. Participant incentives are aligned through staking rewards for validators, while a slashing mechanism is in place to penalize malicious actions, ensuring adherence to protocol rules. Ontology's security is further reinforced by regular audits and a robust governance framework, which involves community participation in decision-making processes, contributing to the overall resilience and reliability of the network.

Has Ontology faced any controversy or risks?

Ontology has faced certain risks primarily related to its technical and regulatory environment. As a blockchain platform, Ontology must navigate the inherent risks of smart contract vulnerabilities and potential exploits. The team actively addresses these risks through regular security audits and updates to its protocol. Regulatory challenges also pose a risk, as changes in global blockchain regulations could impact Ontology's operations and adoption. The project mitigates these risks by maintaining compliance with relevant laws and engaging in ongoing dialogue with regulatory bodies. Additionally, community governance disputes can arise, but Ontology has mechanisms in place for community participation and decision-making to resolve such issues. Overall, Ontology employs a combination of proactive security measures, regulatory compliance efforts, and community engagement to manage and mitigate these risks.

Ontology (ONT) FAQ – Key Metrics & Market Insights

Where can I buy Ontology (ONT)?

Ontology (ONT) is widely available on centralized cryptocurrency exchanges. The most active platform is Binance Futures, where the ONT/USDT trading pair recorded a 24-hour volume of over $7 733 211.60. Other exchanges include Upbit and Binance.

What's the current daily trading volume of Ontology?

As of the last 24 hours, Ontology's trading volume stands at $9,508,099.37 , showing a 55.32% decline compared to the previous day. This suggests a short-term reduction in trading activity.

What's Ontology's price range history?

All-Time High (ATH): $11.18
All-Time Low (ATL): $0.038963

Ontology is currently trading ~99.33% below its ATH and has appreciated +3% from its ATL.

What's Ontology's current market capitalization?

Ontology's market cap is approximately $68 381 708.00, ranking it #339 globally by market size. This figure is calculated based on its circulating supply of 913 697 857 ONT tokens.

How is Ontology performing compared to the broader crypto market?

Over the past 7 days, Ontology has gained 0.03%, outperforming the overall crypto market which posted a 0.27% decline. This indicates strong performance in ONT's price action relative to the broader market momentum.

Cryptocurrencies are highly volatile and involve significant risk. You may lose part or all of your investment.

All information on Coinpaprika is provided for informational purposes only and does not constitute financial or investment advice. Always conduct your own research (DYOR) and consult a qualified financial advisor before making investment decisions.

Coinpaprika is not liable for any losses resulting from the use of this information.

News All News

Education All Education

Ontology Basics

WhitepaperOntology WhitepaperOpen
Development status Working product
Org. Structure Semi-centralized
Open SourceYes
Consensus Mechanism Ontology Consensus Engine
Algorithm VBFT
Hardware wallet Yes
Tags
  • Platform (367)
  • Cross-chain (39)
  • Monetization (146)
  • NEO Token (18)
  • Blockchain Service (321)
  • Cryptocurrency (1281)
  • Ethereum (ETH) Token (ERC-20) (13346)
  • Binance Coin (BNB) Token (BEP-20) (13886)
  • Polygon (MATIC) Token (1472)
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Ontology Team

Name
Position
Other
Wentao Yang
Co-Founder
-
Tony Duan
UX Designer
-
Julia Yu
Marketing Manager
-
Daniel Assab
Senior Overseas Market Specialist
-
Jianqi Liu
Senior Product Manager
-
Andy An
Senior Product Manager
-
Ning Hu
Senior Protocol Architect
-
Honglei Cong
Senior Blockchain Technology Professional
-
Junjie Weng
Technical Manager
-
Min Xiao
Technical Director of Financial Systems
-
Yan Zhou
Technical Manager
-
Daniel Wen
Director Business Development
-
Sally Xue Gong
Head of Strategic Partnerships
-
Zhichao Lai
Senior Software Engineer
-
Bing Wang
Senior Software Engineer
-
Yuan Tan
Senior Software Engineer
-
Pan Liu
Senior Software Engineer
-
Guanjun Hu
Senior Software Engineer
-
Menghang Zhang
Senior Systems Engineer
-
Junxi Xie
Senior Systems Engineer
-
Peiwen Zhou
Senior Systems Engineer
-
Wei Lyu
Senior Information Security Engineer
-
Kunxian Xia
Information Security Specialist
-
Xiping Li
Senior Project Manager
-
Xi Zhou
Senior Software Engineer
-
Qiushan Liu
Researcher
-
Wilson Hua
Technical Product Manager
-
Yingxuan Li
Senior Systems Engineer
-
Yihen Liu
Senior Systems Engineer
-
Xiang Fu
Senior Systems Engineer
-
Yin Shen
Architect
-
Xiaojie Guo
Senior Software Engineer
-
Lucas Si
Software Engineer
-
Wei Zhang
Senior Software Engineer
-
Qiang Zhou
Software Engineer
-
Link Su
Frontend Software Engineer
-
Dashuang Wang
Frontend Software Engineer
-
Jing Liu
Frontend Software Engineer
-
Wenbin Ding
Project Manager
-
Cheng Wang
Software Engineer
-
Xudong Wei
Devops Engineer
-
Zhijie Chen
Software Engineer
-
Will Liu
Senior Blockchain Solutions Specialist
-
Dave Dong
Business Manager
-
Defoe Chiang
Director of Policy and Legal Affairs
-
Mathias Glintborg
Development manager
-
Walter Yang
Business Development Specialist
-
Chelsea Mu
Senior Public Relations Specialist
-
Christina Liu
Overseas Community Operations
-
Tian Xie
UI Designer
-
Zhao Wang
UI Designer
-

Ontology Exchanges

Ontology Markets

By Volume
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* Price / Volume Excluded - Outlier detected
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