Ontology Trading Down 3.7% Over Last Week (ONT)

Ontology (ONT) traded 4.5% lower against the dollar during the 1 day period ending at 17:00 PM ET on July 30th. Over the last seven days, Ontology has traded down 3.7% against the dollar. One Ontology coin can currently be bought for $0.19 or 0.00000295 BTC on cryptocurrency exchanges. Ontology has a market cap of $176.65 million and $7.91 million worth of Ontology was traded on exchanges in the last day.

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

• Ethereum (ETH) traded down 1.3% against the dollar and now trades at $3,277.04 or 0.04960058 BTC.
• Cardano (ADA) traded down 1.6% against the dollar and now trades at $0.40 or 0.00000606 BTC.
• Avalanche (AVAX) traded down 3.4% against the dollar and now trades at $26.51 or 0.00040120 BTC.
• NEAR Protocol (NEAR) traded 3.4% lower against the dollar and now trades at $5.15 or 0.00007799 BTC.
• Uniswap (UNI) traded 4.2% lower against the dollar and now trades at $7.40 or 0.00011205 BTC.
• Internet Computer (ICP) traded 1.8% lower against the dollar and now trades at $8.89 or 0.00013461 BTC.
• Cronos (CRO) traded 1.5% lower against the dollar and now trades at $0.0889 or 0.00000135 BTC.
• Cosmos (ATOM) traded 2.6% lower against the dollar and now trades at $6.03 or 0.00009123 BTC.
• Hedera (HBAR) traded 2.3% lower against the dollar and now trades at $0.0656 or 0.00000099 BTC.
• Fetch.ai (FET) traded down 4.6% against the dollar and now trades at $1.18 or 0.00001791 BTC.

About Ontology

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 907,697,857 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 Reddit community for Ontology is https://reddit.com/r/ontologynetwork and the currency’s Github account can be viewed here. The official website for Ontology is ont.io.

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

ONT/USD price chart by TradingView