ONTOLOGY (ONT)


The Ontology Network is a product of a Chinese company. It is a blockchain network that aims to break down the barriers between the blockchain and the business sector. Ontology has excelled in enabling companies that previously had no knowledge of distributed networks to use the blockchain.A public multi-chain project and trust collaboration platform. A high quality, high performance blockchain that includes distributed ledgers and a smart contract system. Supports public blockchain systems and customizes blockchains for use in different applications. It supports inter-network collaboration.

The main actors in the system are the consensus nodes, who are essentially the miners, creating the new blocks and ensuring the network works, while the candidates are the block verifiers. To become a featured node, a person must have at least 100 000 ONT tokens, undergo an identification procedure and actively contribute to the development of Ontology. Node status is reviewed every month. However, those who do not have this number of tokens can also participate in the staking. In exchange for 500 ONT tokens, anyone can choose one of the nodes and deposit their tokens with it, in return for a share of the revenue from network fees.