Is Ontology a good investment?

Introduction

Ontology Coin (ONT) is the cryptocurrency that powers Ontology, a high-performance blockchain that focuses on solving issues related to identity security and data integrity (making sure data remains accurate and consistent). Ontology lets businesses enjoy blockchain benefits like smart contracts and tokenization while still retaining control of their sensitive data.

ONT ID lets you securely manage your digital identity by storing it on your phone or on trusted cloud storage with a private key that only grants you access.

When sharing your identity with third parties, you don’t have to provide all of your credentials. All you do is provide proof of your identity, which is similar to a notary signature for a notarized document. Though in this case, you just provide the “signature” and not the documents.

How does Ontology work?

The Ontology network is a project focusing on the provision of blockchain solutions to companies. At the heart of Ontology is its consensus mechanism called Verifiable Byzantine Fault Tolerance (VBFT). This algorithm constitutes a mix of the traditional Proof-of-Stake protocol, the Byzantine Fault Tolerance algorithm, and Verifiable Random Function. The VBFT protocol works in the following way: during each consensus round, the system selects several nodes based on the Verifiable Random Function. Then, the consensus process gets executed. All consensus rounds have a different proposal, verification, and confirmation nodes which minimizes the chance of a malicious attack.

The Ontology network is a project focusing on the provision of blockchain solutions to companies. At the heart of Ontology is its consensus mechanism called Verifiable Byzantine Fault Tolerance (VBFT). This algorithm constitutes a mix of the traditional Proof-of-Stake protocol, the Byzantine Fault Tolerance algorithm, and Verifiable Random Function. The VBFT protocol works in the following way: during each consensus round, the system selects several nodes based on the Verifiable Random Function. Then, the consensus process gets executed. All consensus rounds have a different proposal, verification, and confirmation nodes which minimizes the chance of a malicious attack.

Ontology is a blockchain built for smart-contract development. Ontology’s smart contracts possess high performance, great scalability, as well as features such as cross-virtual machines. Developers also can write Ontology smart contracts in a programming language of their choice, including Python and C#. Ontology supports two types of smart contracts, Native and NeoVM ones. The former gets written on Ontology’s underlying level, while the latter can be hosted on the NeoVM virtual machine. Such features make Ontology a true smart-contract blockchain.

ONT ID is one of the key features of the Ontology blockchain. It is a decentralized identity framework that companies can utilize to install blockchain-driven authentication using their data.

DDFX is another essential Ontology service that is a decentralized collaboration and data exchange protocol. DDFX lets users tokenize their data, enabling cross-system data processing and traceability.

Financial Analysis

The ontology price today is $0.947593 with a 24-hour (October 6, 2021) trading volume of $173,660,485. ONT price is up 7.9% in the last 24 hours. It has a circulating supply of 880 Million ONT coins and a total supply of 1 Billion.

Ontology's ROI with 53% in a year underperformed in 'Near Protocol Ecosystem, Binance Smart Chain Ecosystem, Polkadot Ecosystem, Smart Contract Platform' categories which had 433% growth over the past year. It's underperformed in the crypto market which had 7068% growth over the past year. You can track Ontology Return On Investment (ROI) on our website for Free.

A capable marketing team and brand awareness have a direct impact on the success of any project. According to our data, Ontology's Twitter account saw an increase of 17% in the number of followers over the months from May 10 until October 04 of 2021. Moreover, Its Telegram channel users went up by 15% and Reddit channel users went up by 8% over the same period. You can follow Ontology's popularity using our report, which is accessible in our website's popularity.

Our data indicate that Ontology's ranking among the markets' cryptocurrencies in terms of market capitalization decreased over the last months, from 70 to 119. Also, its price saw a similar trend, rising from $2.65 to $0.92 today at the time of writing. However, its liquidity score is 65% upper the market's average score, which means that it would be easier to sell the Ontology if the market is falling. You can find our report about Ontology's market capitalization, price, and liquidity score on our webpage.

You are saying that Ontology Coin is the best cryptocurrency to invest in?

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