Ontology (ONT) is one of the increasingly popular blockchain projects attracting corporate interest. For those planning to move some of their businesses onto the blockchain, Ontology offers a wide range of services, making it one of the most popular cryptocurrencies among corporate companies. So, what is Ontology and what are the analyst opinions on ONT token? In this article by Zatrun.com, you can find answer to these questions.

What is Ontology and How Does It Work?

Ontology (ONT) is a public blockchain that was launched in 2017. It caters to companies with little or no knowledge of cryptocurrencies. Accordingly, it is designed to help such companies move their businesses onto the blockchain. The network allows users to customize public blockchains depending on various types of applications. Thus, it allows them to create their own blockchains in the best possible way.

Project also acts as a direct competitor to Ethereum since it supports decentralized application (Dapp) contracts. Two types of cryptocurrencies stand out on the platform: the first is Ontology (ONT), and the second is Ontology Gas Token (ONG). These tokens help the network run smoothly.

The Ontology platform was created to help businesses and companies set up blockchain technology in their internal systems. The founders of the project aimed to simplify the inclusion procedure of blockchain technology and make the implementation of blockchain technology possible for everyone. The platform allows the creation of several blockchains developed on the primary blockchain. Additionally, it allows the creation of Dapps by supporting smart contracts.

Blockchain also has an identity management product. Companies and individual users can create digital identity cards and register them on the blockchain. This allows them to fully benefit from the ecosystem.

What is ONT? Is It a Good Investment?

ONT coin is the official token of the Ontology network. Token holders have the authority to decide on the protocol’s future updates and proposals. Additionally, ONT coin holders can earn stake rewards for safeguarding the network. Users can also earn ONG token rewards by locking their ONT tokens on the platform.

Blockchain allows users to make data and monetary transactions without the need for a third party. All transactions are well-secured using the unique VBFT consensus mechanism. The platform is highly user-friendly and appeals to investors who want to profit from ONG and ONT coins. Currently, the project is the 155th largest cryptocurrency and is expected to grow even larger in the future.