{"id":10202,"date":"2023-08-03T16:19:29","date_gmt":"2023-08-03T16:19:29","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=10202"},"modified":"2022-05-17T02:22:25","modified_gmt":"2022-05-17T02:22:25","slug":"what-is-ontology-ont-the-complete-guide","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ontology-ont-the-complete-guide","title":{"rendered":"What is Ontology (ONT)? The complete guide"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ontology-ont-the-complete-guide\/#history_of_ontology\" >History of Ontology<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ontology-ont-the-complete-guide\/#how_does_ontology_ont_work\" >How does Ontology (ONT) work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ontology-ont-the-complete-guide\/#there_are_3_ontology_protocols\" >There are 3 Ontology protocols<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ontology-ont-the-complete-guide\/#wallets_from_ont\" >Wallets from ONT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ontology-ont-the-complete-guide\/#how_to_mine_ont\" >How to mine ONT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ontology-ont-the-complete-guide\/#advantages_and_disadvantages_of_ont\" >Advantages and disadvantages of ONT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ontology-ont-the-complete-guide\/#where_to_buy_ont\" >Where to buy ONT?<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>Ontology is a\u00a0<strong>public<\/strong>\u00a0platform created in the\u00a0<strong>NEO<\/strong>\u00a0network oriented to the creation of projects. As an objective, the platform tries to create a security system so that companies can exchange and process data in a\u00a0<strong>safe way.<\/strong><\/p>\n<p>Ontology allows<strong>\u00a0companies<\/strong>\u00a0to develop block chain solutions\u00a0<strong>without knowing<\/strong>\u00a0the technology. In this way, companies can become active data managers, closing the gap between them and the blockchain,\u00a0<strong>thus allowing the exchange of distributed data.<\/strong><\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"history_of_ontology\"><\/span>History of Ontology<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ontology is a Chinese company created by\u00a0<strong>Jun Li<\/strong>, co-founder of Onchain with the help of experts such as Erik Zhang. The platform was launched in\u00a0<strong>2017<\/strong>\u00a0with the aim of simplifying the process of integrating blockchain technology into the world of economics, making it available to everyone.<\/p>\n<p>Although this project\u00a0<strong>did not launch an ICO<\/strong>\u00a0to raise funds, it continued its development with another strategy.\u00a0<strong>The developers gave away ONT coins<\/strong>\u00a0to all users who subscribed to their newsletter mailing list.<\/p>\n<p>After its launch, the company that created Ontology decided to<strong>\u00a0link the platform<\/strong>\u00a0with the NEO block chain. When the network was launched, the NEO community helped drive the development of Ontology by giving away ONT tokens to all NEO holders.<\/p>\n<p><strong>In March 2018<\/strong>, the platform was officially listed in the markets and its maximum issue reached a limit of one billion coins.<\/p>\n<div id=\"image_1156514292\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-19-que-es-ontology-01.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-19-que-es-ontology-01.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-19-que-es-ontology-01-300x205.jpg 300w\" alt=\"que es ontology Bitnovo\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-19-que-es-ontology-01.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-19-que-es-ontology-01-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-19-que-es-ontology-01.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"how_does_ontology_ont_work\"><\/span>How does Ontology (ONT) work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ontology is a platform that works with\u00a0<strong>two tokens: ONT and NGO.<\/strong>\u00a0ONT is the main currency while ONG is the utility token for chain services. ONG was created after the launch of the\u00a0<strong>Ontology MainNet<\/strong>\u00a0to reward users who contribute to the operation of the platform.<\/p>\n<p>By contributing to the platform and creating new blockchains, users can earn\u00a0<strong>commissions<\/strong>\u00a0for their transactions in the form of\u00a0<strong>ONG<\/strong>\u00a0by encouraging users to remain active in the network.<\/p>\n<p>The Ontology blockchain\u00a0<strong>does not charge fees<\/strong>\u00a0and records up to 1000 transactions per second. It has great security, as it works with\u00a0<strong>distributed identity verification<\/strong>\u00a0and various industry-specific modules. Since it is built on the NEO platform, it presents features\u00a0<strong>that prevent data from being deciphered<\/strong>\u00a0even by using supercomputers.<\/p>\n<p>Ontology is compatible with<strong>\u00a0both public and private<\/strong>\u00a0block chains. This facilitates its use by different companies or organizations that want to collaborate with each other\u00a0<strong>having different blockchains.<\/strong><\/p>\n<p>The network structure has a\u00a0<strong>flexible and expandable<\/strong>\u00a0design to meet the needs of different industries. In addition to working with blockchains, this platform also works with two concepts regarding space.<\/p>\n<ul>\n<li>One of them is \u201c<strong>sharding<\/strong>\u201d which consists in the\u00a0<strong>fragmentation<\/strong>\u00a0of solutions where the tasks are divided into fragments or in this case, into layers increasing the stability of the network. The ecosystem has four layers, each one destined to fulfill different functions.<\/li>\n<li>The second mechanism is\u00a0<strong>the VBFT consensus<\/strong>\u00a0(Variable Byzantine Fault Tolerance) which is achieved through the combination of the\u00a0<strong>participation test<\/strong>, a\u00a0<strong>verifiable random function<\/strong>\u00a0(VFT) and\u00a0<strong>Byzantine fault<\/strong>\u00a0tolerance. This way the system will be able to solve validation and consensus failures, among others.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"there_are_3_ontology_protocols\"><\/span>There are 3 Ontology protocols<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>ONT ID<\/strong>, is a distributed identity framework with three very useful functions. These are\u00a0<strong>digital identity identification<\/strong>,\u00a0<strong>asset<\/strong>\u00a0identification and<strong>\u00a0incident<\/strong>\u00a0identification.<\/li>\n<li><strong>ONT<\/strong>\u00a0<strong>Data<\/strong>\u00a0takes care of\u00a0<strong>data exchange<\/strong>\u00a0functions on the network such as intelligent resource and contract management<\/li>\n<li><strong>ONT Scores<\/strong>\u00a0is in charge of\u00a0<strong>evaluating credits,<\/strong>\u00a0data credibility and logistics.<\/li>\n<\/ul>\n<p>In the real world, ONT acts in scenarios such as the administration and management of identity data in public administrations, banks and businesses. This is only a small part of Ontology\u2019s potential.<\/p>\n<div id=\"image_1615779146\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-19-que-es-ontology-04.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-19-que-es-ontology-04.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-19-que-es-ontology-04-300x205.jpg 300w\" alt=\"que es ontology Bitnovo\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-19-que-es-ontology-04.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-19-que-es-ontology-04-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-19-que-es-ontology-04.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"wallets_from_ont\"><\/span>Wallets from ONT<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If you decide to\u00a0<a href=\"https:\/\/www.bitnovo.com\/buy-ont-online-en\">buy Ontology<\/a>\u00a0you will need a wallet to keep them, but not just any wallet. Below we tell you\u00a0<strong>which wallets you can use to save ONT.<\/strong><\/p>\n<p>Usually we can save ONT on the platforms where we have bought them, however,<strong>\u00a0this option is not completely reliable<\/strong>. For this reason, one of the ways to protect our crypto currencies is to invest in\u00a0<strong>physical wallets<\/strong>\u00a0or you can also use\u00a0<strong>hardware wallets.<\/strong><\/p>\n<p>Among the physical wallets we have\u00a0<strong>Ledger NANO X<\/strong>\u00a0<strong>or TREZOR MODEL T.<\/strong>\u00a0On the other hand, if what you want is a hardware wallet that you can always carry with you\u00a0<strong>Ledger Wallet<\/strong>\u00a0will be very good.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"how_to_mine_ont\"><\/span>How to mine ONT<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ontology is a cryptomone that\u00a0<strong>cannot be mined<\/strong>. This means that whoever wants to acquire the currency will only be able to do so through commercial activities on the platform or in campaigns directed by the same company.<\/p>\n<p>The price of ONT has varied greatly since its launch. It has reached minimum prices of up to<strong>\u00a00.50 USD<\/strong>\u00a0and maximum prices of\u00a0<strong>10 USD<\/strong>. In 2018 the price of ONT plummeted due to the bearish season the market went through, reaching a price close to the US dollar. Currently the price of the ONT moves between\u00a0<strong>0.46 USD and 0.48 USD.<\/strong><\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"advantages_and_disadvantages_of_ont\"><\/span>Advantages and disadvantages of ONT<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Like everything else, this platform and its tokens have a good side and a bad side. Let\u2019s investigate them.<\/p>\n<p><b>Advantages<br \/>\n<\/b><\/p>\n<ul>\n<li><strong>Reliable and useful solutions<\/strong>\u00a0for the development of corporate projects<\/li>\n<li>Fair distribution and\u00a0<strong>decentralization<\/strong>.<\/li>\n<li><strong>VBTF<\/strong>\u00a0consensus model that combines speed and safety<\/li>\n<li>Union of the\u00a0<strong>digital economy and the real economy.<\/strong><\/li>\n<\/ul>\n<p><b>Disadvantages<\/b><\/p>\n<ul>\n<li>Development of the project in\u00a0<strong>China,<\/strong>\u00a0a country with\u00a0<strong>high regulation<\/strong>\u00a0of cryptos.<\/li>\n<li>There is increasing\u00a0<strong>competition<\/strong>\u00a0in the development of decentralized applications.<\/li>\n<\/ul>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"where_to_buy_ont\"><\/span>Where to buy ONT?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If you want to know how to buy ONT or where to do it, of course we will recommend you to\u00a0<a href=\"https:\/\/www.bitnovo.com\/cotizacion-criptomonedas\/\">buy ONT<\/a>\u00a0from\u00a0<strong>Bitnovo<\/strong>. And this is not simply because we are inside the brand\u2019s blog, but because Bitnovo is really a fast and safe way to do it.<\/p>\n<p>Our goal as a company is to make it possible for a person who just entered the crypto world to buy any crypto currency<strong>\u00a0in a matter of minutes<\/strong>, without experiencing the problems that most crypt exchanges have.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>Ontology is a\u00a0public\u00a0platform created in the\u00a0NEO\u00a0network oriented to the creation of projects. As an objective, the platform tries to create a security system so that companies can exchange and process data in a\u00a0safe way. Ontology allows\u00a0companies\u00a0to develop block chain solutions\u00a0without knowing\u00a0the technology. In this way, companies can become active data managers, closing the gap between [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-criptomonedas"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=10202"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10202\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/7104"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=10202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=10202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=10202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}