Ontology is the name for a public blockchain-based network as well as its native coin. ONT launched as a coin on the NEO blockchain.
Ontology launched its network after an airdrop of ONT coins to NEO holders in late June 2018. Ontology and NEO cooperate extensively although the full extent and nature of their relationship is unclear. On August 8, 2019, Ontology introduced OWallet to be used in conjunction with the transfer of ONT from the NEO blockchain to its own blockchain.
Each ONT will continuously throw off another cryptocurrency ONG which is designed to be used by enterprises on the Ontology blockchain to operate business-level blockchains that can be customized to different applications.
According to CoinMarketCap, an online cryptocurrency data aggregator, ONT was the 22nd largest coin by market capitalization and the 30th most actively traded cryptocurrency in early February 2019. ONG's market capitalization was not available - presumably due to the ongoing dynamics of coin creation, although its traded volume was reported as the 156th most active.
We visit more than 100 websites daily for financial news (Would YOU do that?). Read the John Lothian Newsletter.