Buy Ontology (ONT)
Cryptocurrency is a new generation of means of payment, which is a mathematical code and exists only in digital form. The first such developments appeared back in 1998, and in 2008, a certain person under the nickname Satoshi Nakamoto published a document containing the idea of the world's first full-fledged cryptocurrency.
A small investment in digital currency just a few years ago could have made a big fortune!
The main purpose of digital money is considered to be the anonymous purchase of goods and services, and this functionality is becoming more and more in demand every day. According to experts, at the moment, cryptocurrencies are more of a profitable long-term or short-term investment.
Cryptocurrencies are one of the most talked about things these days. People from all over the world have been able to make thousands, if not millions, of dollars by investing in these digital coins. However, the potential profit, as always, goes hand in hand with the high volatility of this market. Conduct your own research on the prospects of an idea to invest in cryptocurrency and understand all its advantages with our review. Today's topic is dedicated to a promising and reliable cryptocurrency - Ontology.
What is Ontology? History Ontology
The co-founders CEO Da Hongfei and CTO Eric Zhang created the NEO blockchain (originally called Antshares) in 2016 after nearly two years of operation. Then, in November 2017, Onchain launched Ontology. OnChain have had tremendous success in the cryptocurrency industry as they were also the founders of the NEO blockchain, which is now a multi-billion dollar project.
In essence, Ontology was created as a way for companies of all sizes to install blockchain technologies within an organization without the need to completely change all existing systems. What's more, the Ontology development team wanted to make the process really easy for businesses that don't know blockchain technology.
Interesting fact: At the beginning of the existence of the Ontology coin, there was no ICO (initial coin offering and fundraising method for new crypto projects). Instead, Ontology has made an Airdrop (which means giveaway) of its coins to people, including NEO coin holders and those who subscribed to the Ontology newsletter! They also received funds from private investors.
Since they were both created by the same company, Ontology is working with NEO to bring blockchain to the business world. This technology will also support decentralized applications (dApps), which means they are in direct competition with Ethereum.
So now that you know how the project got started, next we will take a look at how Ontology can be used.
How Ontology works
Ontology is actually an extension of the Neo system. It solves current problems, but at the same time functions autonomously. The system is based on a virtual machine called NeoVM. Nevertheless, it is still significantly different from its predecessor and presents a set of modules. Each of the modules is designed to create ready-made applications.
For example, if a developer opts for the Neo system, he will have to write from scratch. The creators of the new site have fixed this error. Customers now have the right to use ready-made templates. With their help, designing has become much easier!
The Ontology developers identify three main scenarios. On their basis, users can use the site. The list includes:
- Working with information. Clients can interact with any data.
- The system is suitable even for working with information that needs a high degree of protection.
- Interaction with other blockchains. This makes it possible to carry out a wide range of tasks.
- Building systems that are used to verify the identity of users.
The platform, within which the Ontology cryptocurrency is used, combines different categories of data into one system. The so-called reputation mechanism plays an important role in it. Users have the right to express their confidence in other members of the system or even in the whole company. For this, a special voting system was developed. Particularly noteworthy is the fact that the site does not take on all the functions that allow the processing of information.
The company wants customers to use third-party blockchains in accordance with the need present during the operation of a particular application. The system supports a special kind of operation. This provides users with additional options. The system is able to easily interact with other protocols. At the same time, the developer and the potential client get rid of the binding to any one product.
Ontology smart contracts implementation
The blockchain of any cryptocurrency is based on smart contracts. Ontology took the Neo system virtual machine as a basis. This is the name given to programmable machines capable of transforming code into specific actions. For example, if a command in the Ethereum system is written in Solidity, an automatic code transformation is performed. As a result of the implementation of the action, smart contracts are executed. The site virtual machine is responsible for the implementation of the process.
Each platform has its own virtual machines. They differ significantly from each other and for this reason virtual machines of different platforms are incompatible. This makes it impossible for blockchains to interact with each other. To implement this, you need to run them on one virtual machine.
Due to the fact that the Ontology system was powered by Neo, the site can understand the platform data and interact with its smart contracts. This makes the networks interoperable. In the future, it is possible to introduce other virtual machines into the site.
How Ontology price is determined
Ontology cryptocurrency has recently entered the digital market. The value of the monetary unit continued to rise while all other digital coins were in decline. The Ontology token is supported by the Binance exchange: it adds a digital coin in a pair to the internal currencies. Such a loyal attitude from one of the promising exchanges makes one pay attention to the Ontology cryptocurrency.
The growth of interest and discussion around the Ontology cryptocurrency and the excitement have an undoubted impact on its value. The more and more often they say, the better the recognition, the more they buy - the faster the rate grows. But the most important factor in determining the price of Ontology is two global things - supply and demand.
Ontology's value will continue to rise and fall, depending on how much people believe in its high or low value. And growth is one of the main reasons to buy Ontology.
What are the advantages of Ontology
Ontology started its work not so long ago. But during this time she managed to conquer a lot of users with her indisputable advantages:
- support for the interaction of the system with smart contracts;
- a single service where identification is carried out;
- high speed of functioning;
- providing almost unlimited scalability;
- developing new blockchain applications will not be difficult;
- the ability to easily integrate a new application into an existing infrastructure.
Where to buy Ontology
Ontology cryptocurrency has managed to gain high popularity among users. This allowed the currency to enter many large exchanges. Binance and IQ OPtions among them.
Buying Ontology on the marketplace is the most convenient way. You can use Contracts for Difference (CFDs) and buy Ontology in the UAE on the brokerage platform very easily! For novice investors, this is ideal. You are simply speculating on the ups and downs of Ontology without owning the asset itself. Try it! You will definitely succeed!
How to start investing in Ontology in the UAE?
You can buy Ontology in the UAE on specialized exchanges. However, there is another more convenient way - trading using contracts for difference (CFD). You can try it today - it's easy!
A CFD is an agreement between a trader and a broker. If a trader buys CFDs on Ontology, he does not own the cryptocurrency itself, he only owns a contract, which indicates at what price he bought ONT. At any time, a trader can close a position and return his contract to the broker. If his prediction turned out to be correct, he will receive an appropriate reward. With the help of CFDs, traders can bet on both growth and decline.
Let's take a look at the basic concepts so that you can easily understand the basics of CFD trading:
- Long position - you enter it if you think that the rate will rise. A short position - you enter it if you are preparing for a decline in the rate.
- Spread is the most common way to compensate a CFD broker. The spread is the difference between bid and ask prices.
- Leverage - allows you to increase your effective capital with the correct forecast.
- Stop loss. To avoid excessive losses, it is necessary to apply stop losses. These orders are automatically triggered and close the position when a certain price is reached.
- Take profit. This type of order automatically closes a position upon reaching a specific profit, the size of which is determined by the investor before making a deal.
In order to safely invest in cryptocurrencies, you need to know the following basic rules:
- Buy / sell Ontology only by choosing a reliable, proven trading platform;
- Store funds only trust non-custodial services (these are platforms that allow users to own their own private keys);
- Use only personal WI-Fi for transactions;
- Safely and securely store private keys and seed-phrase from the wallet with assets.
Should traders invest in Ontology in the UAE?
All projects aimed at integrating IT technologies, by definition, have excellent prospects. How impressive the success of a particular cryptocurrency will be depends on the professionalism of developers and marketers.
The ONT team consists of personalities known in the world of cryptocurrency. They have already managed to gain credibility among the community and achieve their own success. Unlike many other projects, the system is aimed not only at financial issues. In the process of growth and development, she plans to begin interaction with a number of industries that have nothing to do with money. This greatly enhances the potential of Ontology. The Ontology system itself has been present on the crypto market not so long ago. However, she has already managed to develop a clear strategy and define her position.
Since its launch, the Ontology cryptocurrency rate has been at a fairly high level and growing, so investing in Ontology in the UAE can definitely be called a good idea!
How to Buy ONT right now?
Now you can easily buy ONT and get profit!
By choosing to trade with CFDs, your trades will be executed very quickly and will allow you to bet not only on the growth, but also on the decline in the price of Ontology.
You can easily fund your deposit by credit card, Paypal or bank transfer. In addition, anyone can open a free demo account that does not require an initial investment. It allows novice crypto traders to practice and get comfortable in the market. Finally, you can start trading with only a small capital, and use the support of a broker at any time! Take action! You will succeed!