When you look at the rebound of cryptocurrencies in Quarter 2, you will realize that quite a few of them have jumped up. One such cryptocurrency which has risen significantly in the recent years is ontology. The reason why it is increased so significantly are plenty. You have to 1st look at the price movement. When you look at the price movement, you will certainly see that it has risen by 40% within a period of just 24 hours. That is why it is on the radar of the investors. Investors are trying to figure out whether it can rise even more.
What exactly is Ontology?
Ontology was created in 2017. It was created by a Chinese tech company by the name of Onchain. It is actually a network of blockchain’s rather than a single blockchain. As it is a network of multiple blockchains, it supports a completely decentralized ecosystem. This makes it clear that rather than being a single cryptocurrency, it is trying to become a network which can be used by various developers.
ONT and ONG tokens are the 2 type of tokens which power the Ontology platform. Instead of launching ICO, the ontology developers decided that air dropping the tokens to NEO holders will be a good idea. That is why they created an airdrop to the subscriber of the newsletters. Each and every NEO holder was air dropped 0.1 ONT per NEO. Also, there is an indication that such an airdrop may happen in the future as well.
Features of Ontology:
When you look at the features of Ontology, you will realize that it is a network of blockchains which ensures that it will function as an interfacing layer and interconnecting layer between different stakeholders. At the same point in time, cross chain communication will also be possible. As a result, Ontology will be in great demand once it launches its main network. It is slated to launch the main network this very year. After it launches the main network, automatically the applications of the Ontology will increase significantly. As it will be able to provide proper connectivity between the networks of blockchain which it supports, proper communication will be made possible which will ensure that Ontology can be used for a variety of different purposes.
Ontology (ONT) Price Today
Thus, whenever you’re looking at the reasons for the increase in Ontology price in the last few weeks, you will realize that it is due to the fundamentals of the cryptocurrency. With the launch of the main network, it will indeed become much more versatile which is positive for the cryptocurrency holders as well as for the users of the blockchain of Ontology.