Dual-Token Standard and Transaction Utility of Ontology Gas ($ONG)
Exploring Features and Benefits of Ontology’s Dual-Token Standard, as well as Its Role in Maintaining Security and Accessibility on the Ontology Network
What is Ontology Gas (ONG)?
The next-generation network of open blockchains is called Ontology.
The chain has a distributed, trust-based collaboration platform that supports both ledger accounts and smart contracts. According to its whitepaper, the platform seeks to maintain the public chains of the applications built on its framework and associated with various protocol groups while also supporting the Apps and services running on those public chains.
Ontology aims to create the infrastructure to provide trustworthy access to Web3, allowing people and businesses to feel secure knowing that users and their privacy are protected.
Features of Ontology Blockchain
- Fast Operation: The consensus method used by ontologies completes over 5,000 transactions per second and confirms transactions in less than one second.
- Accessibility: To give more developers access to the Ethereum ecosystem, Ontology is connected with the Ethereum Virtual Machine (EVM) and an optimal cross-chain functionality. The formulas used to determine a new acceptable state from block to block are described by the Ethereum Virtual Machine (EVM). And to get beyond the limitations of a single blockchain, the cross-chain function operates between two distinct blockchains.
- Security: The Ontology MainNet offers peak trustworthiness and consistency for around three hundred Dapps that the public blockchain presently supports.
These suitable features, combined with EVM integration, support strong, private, and secure Web3 business solutions for users anywhere.
$ONG and $ONT Dual-Token Standard
Ontology uses an infrastructure that facilitates scalability and rapid, low-cost transactions to function as a distinct dual-token standard. The perpetual operation of the Ontology public blockchain depends on both the $ONG and $ONT tokens. On the Ontology network, the $ONT token serves as the primary medium of exchange and storage of value. A vote on proposed alterations, improvements, and developments to the project is also open to $ONT token owners.
$ONG Tokens Utilities
$ONG tokens are used to pay for fees and transactions that take place on the Ontology network.
The network’s predicted transaction costs are maintained by the token, providing users and developers with a pleasant operating environment.
Ontology Gas’s Founder
Ontology Gas’s founder, Jun Li, has seventeen years of expertise in the Fintech and IT industries and is known throughout the world as an architect of blockchain solutions.
There is one billion $ONG in total supply for the platform’s token.
Where to Store Ontology Gas (ONG)
Atomic Wallet is a popular custodial wallet option that can hold a wide variety of cryptocurrencies, such as Ontology Gas (ONG), making it highly desirable for users who wish to have a varied portfolio.
It is always recommended that you use a secure wallet, create backups, and store any sensitive recovery information safely for only yourself to see.
Where to Buy and Sell Ontology Gas (ONG)
You can Buy and Sell Ontology Gas (ONG) here at BC Bitcoin.
You can Buy Ontology Gas by heading over to the Buy Coins page of our website. Ontology Gas is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Ontology Gas (ONG) has never been easier, simply place your order and provide your wallet address. Once your payment arrives, $ONG will be sent directly to your wallet.
If you choose to Sell Ontology Gas (ONG), you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins page.
Ontology Gas (ONG) Resources
Websites: https://ont.io/
Block Explorer: https://explorer.ont.io/
GitHub: https://github.com/ontio
Whitepaper: https://ont.io/wp/Ontology-Introductory-White-Paper-EN.pdf
Twitter: https://twitter.com/OntologyNetwork
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers' responsibility to complete their own research and due diligence.
