Cena Ontology Gas (ONG)

Ontology gas (ONG) is a high-performance blockchain that addresses identity security and data integrity issues.

Ontology gas was created in 2018, when the Ontology project released its mainnet or switched from another blockchain (NEO) to its native blockchain.

Unlike other smart contract platforms, such as Ethereum, which uses a single asset to both secure the network and pay for transactions, Ontology employs a two-token model.

ONT enables owners to participate in the network's on-chain governance protocol and contribute to Ontology's Proof-of-Stake (PoS) security system.

When a user transfers ONT to another address, deploys a contract, or interacts with an application, ONG is used to pay any transaction fees. Staking ONT (locking up the token) on the network allows Ontology users to earn ONG.

Ontology Features and Updates

Privacy is a major concern for businesses because they typically do not want to reveal all of their data publicly, particularly proprietary data or must be kept private to comply with consumer protection laws. Indeed, this is a major reason why many businesses have avoided Ethereum or Onchain's NEO project, both of which are fully public blockchains.

On the other hand, Ontology Gas enables businesses to benefit from the capabilities of blockchain technology, like;

Smart contracts have the potential to automate processes and increase business efficiency.

Cryptographic identity proofs, such as those provided by ONT ID, can be obtained without using sensitive documents such as passports.

Data tokenization, such as Ontology's upcoming DDXF, will make data trackable (the record of where data goes and what happens to it will be recorded on the blockchain) and transferable across different systems or blockchains, such as those in the Ontology ecosystem.

Ontology Team

Jun Li founded ontology, a firm believer in the power of decentralized identity and data solutions to change the world. The Ontology gas team includes high-profile experts like Gloria Wu, Erick Pinos, Humpty Calderon and Dr. Kendall MAO.