Ontology (ONT) is a decentralized blockchain platform designed to enable businesses and institutions to build and deploy blockchain-based solutions tailored to their specific needs. Launched in 2017, Ontology aims to provide a scalable, secure, and interoperable infrastructure for a wide range of use cases, including identity verification, data exchange, and decentralized finance (DeFi).
Ontology utilizes a multi-layered architecture consisting of multiple modular components, including a core blockchain layer, identity framework, and smart contract platform. This architecture allows for greater flexibility and customization, enabling developers to design and implement complex decentralized applications (dApps) with ease.
Ontology provides robust identity solutions that enable users to verify and authenticate their identities in a secure and decentralized manner. These identity solutions can be integrated into various applications and use cases, such as Know Your Customer (KYC) processes, supply chain management, and digital asset management.
Ontology is designed to be interoperable with other blockchain networks, allowing for seamless communication and data exchange between different platforms. This interoperability enables developers to leverage existing blockchain ecosystems and integrate Ontology into larger-scale projects and collaborations.
ONT, the native cryptocurrency of the Ontology platform, is used to facilitate transactions, pay for transaction fees, and access various services and features within the Ontology ecosystem. Additionally, ONT tokens may be staked to earn rewards or participate in the platform's governance process.
