Overview

29/10/18 03:29 UTC-4

Ontology Functionality

Reliability of the Ontology system
Reliability of the Ontology system

The platform called Ontology went to virtual cryptomarket in 2017 and immediately attracted the attention of investors. The fact is that, thanks to its functional capabilities, this network allows many companies to organize their work on the blockchain technical process. The founder of Ontology was the Chinese company Onchain, which specializes in the implementation of blockchain in the real sector of the economy.

 

Work principles

The centralized networks on which most companies build their work have a number of shortcomings, including weak protection of anonymity and corrupt management of the system and inefficient coordination of issues. The decentralized Ontology shell easily solves these problems and ensures reliable operation of the corporate structure of enterprises. Thanks to simple and understandable mechanisms for reconciliation, confirmation of operations and information management, Ontology adapts to any business needs.

Interesting in the section: NEO – the beginning of a modern era in the financial sector

In a simple language, Ontology is a chain of blocks or a distributed ledger that automatically identifies data in a peer-to-peer model of coordinates. From the very beginning of Ontology's development, it was constantly compared to a platform called NEO, but it turns out that these are just partners who perform slightly different tasks. Thus, NEO is funded by a community of participants and is intended for ordinary users, and Ontology is a site for legal entities.

 

Capitalization

Among the long list of possible operations on the network, you can identify the main modules: checking information, creating applications, connecting users and protocols, linking different networks on the same platform. A wide range of functions is performed using ONT tokens. In total, one billion coins are planned to be produced, which will be distributed accordingly.

Interesting in the section: What you need to consider for a correct evaluation of cost of cryptocurrency

Unique is the fact that the creators of Ontology never carried out preliminary sales of the cryptocurrency through the ICO. At the start of work, ONT could be obtained only with NEO coins. Store ONT recommended in the wallet Neon Wallet or hardware purse Ledger Nano S and Trezor.

The Ontology network is trying to change the approach to trust relationships and simplify complex reconciliation processes. Bureaucratic approach in business should go to the past - this is the essence of this project. Professional team of developers and high level of Ontology capitalization give every reason to believe in the bright future of this network.

Editor: Yuliya Soroka

#Ontology #ONT #Onchain #cryptocurrency

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