Ontology (ONT) is an innovative blockchain project aiming to transform identity and data management and sharing. With its unique approach to blockchain technology and a dedicated team, Ontology has gained significant traction among traders and enthusiasts, positioning itself as a promising player in the blockchain industry.
What is Ontology
Ontology is a decentralized blockchain platform that aims to provide a robust infrastructure for trust, identity, and data exchange. Its main objective is to facilitate business adoption of blockchain technology by providing services such as data exchange and identity verification in a cost-effective, high-speed, and decentralized manner.
The platform achieves this by leveraging smart contracts and ledger accounts, enhancing transparency, trust, and privacy for its users. Ontology effectively powers its network through a dual token system, comprising ONT and Ontology Gas (ONG) tokens.
The Ontology team
The Ontology team is led by accomplished leaders, including Chief Strategy Officer Andy Ji and founder Jun Li, who have demonstrated their expertise and achieved notable success in the blockchain industry.
Jun Li brings a wealth of experience, having spent 16 years working in the IT and fintech sectors. His background as a senior blockchain architect and blockchain solutions professional positions him as a valuable asset to the Ontology project, contributing to its strategic direction and advancements.
Andy Ji is also an experienced blockchain technology leader, with significant leadership roles in various organizations and alliances, including Top 500 Blockchain groups, Wanda Technology Group, Hyperledger, and the China Blockchain Ecosystem Alliance (CBEA).
How does Ontology work
Ontology employs a unique architecture that combines diverse technologies, creating a robust and efficient blockchain ecosystem. The platform's support for multiple blockchains and protocols enables smooth interoperability between various systems. For instance, by utilizing its Ethereum Virtual Machine (EVM), Ontology ensures compatibility with Ethereum-based assets, promoting connectivity with other blockchain networks for data exchange and collaboration. This decentralized infrastructure allows easy integration into third-party systems.
ONT ID stands out as Ontology's key feature, serving as an identity verification protocol harnessing blockchain technology. Additionally, Ontology offers its own ONT Wallets, providing users with a flexible digital wallet for storing cryptocurrencies and NFTs.
Ontology’s native token: ONT
ONT is the native token of the Ontology network. ONT holders can participate in the network's governance by voting on proposals and contributing to decision-making processes. Additionally, ONT tokens are used to pay for transaction fees, deploy smart contracts, and access a wide range of services offered within the Ontology ecosystem.
ONT tokenomics
The total supply of ONT tokens is capped at 1 billion, with no further issuance planned in the future. The distribution of tokens is strategically allocated to various stakeholders, including the Ontology team, institutional investors, and community members. This balanced distribution not only encourages decentralization but also promotes active community engagement and participation within the Ontology ecosystem.
ONT use cases
ONT's main use case is to transfer and store value on the Ontology network. Holders can also vote on proposed upgrades, changes and other major project decisions. Furthermore, through the exchange of ONG rewards, holders can stake ONT to help secure the network.
ONT token distribution
The distribution of ONT tokens is as follows:
28 percent: Co-builders (institutional partners)
25 percent: Ontology ecosystem development
15 percent: Ontology core team
12 percent: Ontology community
10 percent: NEO council
10 percent: Ontology technical community reward
The future of Ontology
Ontology's commitment to interoperability, trust, and data management positions it as a powerful force in the blockchain industry. With its innovative solutions, Ontology has the potential to bring about transformative changes across various sectors. From enabling secure and efficient data exchange to revolutionizing identity verification and fostering innovative business models, Ontology is poised to redefine the way we interact with digital assets and information.
Ontology operates on a Verifiable Byzantine Fault Tolerance (VBFT) consensus mechanism, which combines Proof of Stake (PoS), Verifiable Random Function (VRF), and Byzantine Fault Tolerance (BFT) to deliver a secure and efficient consensus process. Core Components: VBFT Hybrid Consensus: Combines PoS for staking, VRF for randomness in node selection, and BFT for transaction finality, ensuring both security and efficiency in the network. Node Selection via VRF: A Verifiable Random Function ensures randomness in selecting consensus nodes, making it difficult for adversaries to predict or manipulate the selection process. Stake-Based Voting: Nodes with higher stakes have greater voting power in the consensus process, aligning their incentives with the network's security and stability.
奖励机制与相应费用
Ontology employs a dual-token system and a comprehensive fee-sharing model to incentivize participation and ensure the network’s sustainability. Incentive Mechanisms: Staking Rewards: ONT holders can stake their tokens to earn ONG rewards. This incentivizes long-term commitment and active participation in governance and network stability. Governance Participation: ONT holders have voting rights in network governance decisions, enabling them to influence protocol upgrades and other critical parameters. Applicable Fees: Transaction Fees: Users pay transaction fees in ONG for transactions and smart contract executions. Fees are relatively low, making Ontology suitable for microtransactions and complex applications. Fee-Sharing Model: A portion of transaction fees is distributed to stakers and node operators, aligning the interests of all network participants and supporting the ecosystem's sustainability.
信息披露时间段的开始日期
2024-03-28
信息披露时间段的结束日期
2025-03-28
能源报告
能源消耗
349261.20000 (kWh/a)
能源消耗来源与评估体系
The energy consumption of this asset is aggregated across multiple components:
To determine the energy consumption of a token, the energy consumption of the network(s) ontology is calculated first. Based on the crypto asset's gas consumption per network, the share of the total consumption of the respective network that is assigned to this asset is defined. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation.
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