Hey everyone, just wanted to give you a quick heads up about Ontology. KuCoin Exchange has announced that they will be listing ONT on their exchange today 3/30/18. You can now trade for Ontology with the following trading pairs: ONT/BTC, ONT/ETH, ONT/NEO.
Ontology seems to be one of the very few alts that hasn't been affected in this brutal bear market. Ontology will also be launching their mainnet later in Q2. Once their mainnet is launched, you will start earning ONG, which is Ontology Gas similar to NEO and GAS. This means you will start earning passive income based on the amount of ONG you possess in your wallet. Earning passive income might be a smart move if you haven't already sold and you believe in crypto, and have the patience to wait out this "bear market" or "correction."
https://news.kucoin.com/en/ontology-ont-gets-listed-on-kucoin/
Ontology is interesting because they never had an ICO. ONT first hit the market via an Airdrop to all NEO holders. But you may be asking, "what is Ontology?" In Ontology’s words:
“Ontology is a blockchain/distributed ledger network which combines a distributed identity system, distributed data exchange, distributed data collaboration, distributed procedure protocols, distributed communities, distributed attestation, and various industry-specific modules. Together this builds the infrastructure for a peer-to-peer trust network which is cross-chain, cross-system, cross-industry, cross-application, and cross-device.”
That is a mouthful. Basically, Ontology will work together with NEO to bridge the gap between blockchain technology and the real world. NEO will focus on digital assets and a global Smart Economy, whereas Ontology focuses on trust, identity, data exchange and authorization. The two will be mutually beneficial and complement each other. I included a link to video below by Crypto Zombie. He does a nice job of explaining ONT and he seems to be a big proponent of it.
Well there you have it. What are your guys thoughts on ONT? I personally like it, and I started to accumulate a small position. I really like the idea of passive income, so I will be holding for their ONG when their mainnet releases later in quarter 2. I personally bought some using KuCoin today...the 1st day of the announcement. I know it's been rough in the crypto world, but with some patience and some passive income, I think we will all be alright. Until next time...