Ontology (ONT)

What is Ontology?

The ONT NEP-5 standard compliant token is a placeholder token of the Ontology network. Upon the mainnet launch, it can be swapped for a native ONT token. New ONT token will be a part of a dual token system, similar to the one it spawned from - NEO. Ontology, like NEO, will have a secondary "gas" token. The Ontology project develops an infrastructure for an ecosystem of trust, coordination of trust and data sources, and Dapp development. It aims at connecting blockchains and traditional informational systems under one integrated multi-system and multi-chain framework. It is modular in design allows users to adapt it to various businesses and commercial scenarios without prior blockchain experience. Ontology includes digital identity creation and validation, data cooperation and exchange, credit score ratings and beyond. Ontology ledger utilizes the Ontorand Consensus Engine (OCE), that is a hybrid of dBFT protocol and VRF (Verified Random Function) engine.