The Primary Attributes of the ONT Coin
China and Digital Currencies: A Complicated Relationship
The relationship between the People’s Republic of China and digital currencies has been very contentious and ambiguous in the recent past. China has constantly been prohibiting any crypto related activities and warning its citizens against investing in cryptocurrencies.
Nevertheless, even after this negative attitude of the Chinese government towards digital currencies, most the advanced cryptocurrency inventions have occurred in China. China hosts one of the biggest Bitcoin mining pools in the crypto world.
Great advancements have been conceived in China, although most of them change their operating headquarters to other nations due to the tight regulatory atmosphere in China. Let us have a detailed discussion about Ontology, one the Chinese ventures, and gauge if it is worth investing.
What is Ontology?
The Ontology project is one of the easiest blockchain platforms, which can be applied to be businesses without any prior knowledge of the crypto verse. This process is quite stressful since there is protocol to incorporate them effectively with the industrial layout. With the strong Ontology network in operation, greater security, data management, and privacy are guaranteed via various authentication processes.
The Working Model Behind the ONT Coin
The trust method integrated by the Blockchain ecosystem is very intuitive and comprises four steps. Step one consists of the substantiation for the credentials of the actual objects and people. Step number two facilitates the connection and verification of various apps.
Step three is where the authentication of Technical practicalities like verification of SDK, API, and modules take place. Lastly, step four verifies and links several networks to maximize the general functioning of the network. In this way, actual elements are linked to the blockchain space.
The Futuristic Vision of the ONT Currency
The Ontology developers are determined to create a Blockchain platform to apply their Dynamic Architecture into several business platforms and make it a basic model for the same use. Nowadays, it is rare to get Blockchain integrations with the private or public establishments.
The project’s primary objective is to democratize the application of Blockchain Technology in the business sector. It has already come up with digital identity management and has also outlined an exemplary model for the same, which would indirectly influence the human resource sector, Healthcare, and Criminal Records.
The Future of the ONT Coin
The future acceptance of the ONT Coin is very bright since one of the Ontology founders has good relations with the Chinese government. Rumours have it that the regulators might spare the project in the name of national security after incorporating their social systems with the Blockchain Network.
Lesser Known Facts About ONT Coin
Many people don’t know that the ONT Currency project did not conduct a Public Initial Coin Offering (ICO). The project was available via Airdrops for all the NEO holders at that time. The other ONT Coin fact that is less acknowledged is that the coin is listed by many crypto exchanges for buying and selling.