Buy Ontology (ONT)
The cryptocurrency market is still at the beginning of its development, despite the emergence of more and more currencies and the growing popularity of existing ones. In the future, such a currency is unlikely to be able to replace the classic one, nevertheless it will be a convenient settlement tool with a number of advantages.
Currently there are over 7 thousand cryptocurrencies in circulation! At the same time, there are two main factors that determine their rate: first, the desire to sell the currency at a higher price than it was bought, and in this case it rises in price, following the hopes of investors, or falls, reflecting their disappointment; the second is the ability to use cryptocurrency as an alternative tool for settlements and payments.
Today, the well-known digital currency Ontology is in our field of vision. The idea of the Ontology project is to create a kind of bridge that will act as a link between the real world and blockchain technologies. But how they did it, now let's figure it out.
What is Ontology? History Ontology
Ontology is a distributed collaboration network and high-performance public blockchain. It provides a decentralized networking environment that offers solutions to data integrity and identity verification problems. The high-performance public blockchain consists of complete smart contract systems and distributed ledgers. Behind the Ontology project is OnChain, which developed the NEO cryptocurrency. According to their plan, the NEO platform should become the main one for the future “smart economy”, in which any transactions will be concluded using tokenized assets.
For example, selling a house will no longer require notaries and a certificate of ownership - it will be enough to sell a token tied to a given volume of real estate and the buyer will automatically become the new owner of the house.
NEO was criticized for its lack of anonymity and the difficulty of integrating with specific areas of real business. Therefore, in 2017, the launch of the Ontology project was announced, which is in fact an addition to the NEO network and should eliminate its shortcomings.
Unlike most projects in 2017, the Ontology cryptocurrency began its history not with an ICO, but with an airdrop.
One billion Ontology tokens were issued on the NEO blockchain and then 12% of them were distributed to the owners of the NEO cryptocurrency and users who took part in the project's program. Another 25% went to the original large investors in Ontology, and the remaining coins were distributed among the developers, the NEO board, and OnChain.
In the summer of 2018, the Ontology project launched its own blockchain and marked this event with another airdrop of its tokens to the NEO cryptocurrency holders who took part in the first distribution. But the main supply of coins still remains under the control of the developers and large investors in the project.
How Ontology works
Ontology developers presented to the public a two-tier blockchain with a modular structure. It works on the original consensus-building algorithm:
- The first level of the blockchain. Responsible for basic functions: consensus building, transaction processing, network scalability and hacking protection.
- The second level includes a set of blockchain tools or modules, with the help of which companies-users of the Ontology network can create their applications for their business.
The most important tool in the Ontology system is the ONT ID module. With its help, a network user or legal entity will be able to pass verification on the platform and at the same time maintain their anonymity. This is the very module that should solve the problem of the lack of anonymity on the NEO network.
As for the original algorithm for reaching consensus, the Ontology developers have built a three-tier transaction confirmation system:
- First, transactions are formed into a block.
- A confirmation validator is selected by voting.
- An additional check is carried out for the correctness of the data recorded in the block and the honesty of the vote.
Only after that is the entry to the blockchain performed.
Ontology developers claim that despite all the complexities of their network, 5000 transactions per second can be processed!
How Ontology price is determined
A number of factors affect the price of Ontology. Some of them are obvious, while others can be unpredictable. Pricing is analyzed and forecast based on market sentiment and fundamentals:
- Constant change in supply and demand. Ontology's price movement is driven by trends. In other words, the aggregate of changes in the balance of supply and demand over a certain period of time can form the exchange rate. When demand exceeds supply, an upward trend occurs. If supply exceeds demand, a downward trend of the rate appears.
- Declining confidence in the global financial system and national (fiat) currencies. For example, the devaluation of national currencies often leads to an increase in demand for digital currencies, which more and more people are beginning to perceive as a store of value.
- Influence on the price by many traders. At the same time, the influence on the market from the side of large players is especially noticeable. At the same time, there is a stable relationship: the larger the capitalization of Ontology, the less the influence of large players, and vice versa.
- News background. The media are very effective means of manipulating the public. This factor is relevant mainly for short-term forecasts. News is distinguished by the type of sources: political and systemic. The main thing is to learn to distinguish really noteworthy events from attempts to manipulate the real rate of cryptocurrencies.
- Technical progress. New platforms, growing investor interest and innovative features have a positive effect on the growth of the exchange rate. The growth of the cryptocurrency market is based on opposition to classical economic fundamentals. The pursuit of decentralization, privacy, security, speed and low cost lays the foundation for the development of this market.
From the above, it follows that when analyzing the price of Ontology, one should pay attention to general market trends, as well as the state of affairs of competing and interconnected cryptocurrencies. News analysis is also important. At times, the media has a key influence on market sentiment and Ontology's course.
What are the advantages of Ontology
- Positive reputation of the platform. In the cryptocurrency environment, this indicator plays a huge role. The company that created the digital currency is known not only for its partnership with NEO, but also for being the first to join the massive Hyperledger project.
- Professional development team. As for the creators, some of them are Hong Li, Honglei Kong and Ning Hu. These are the best experts who have united and added experienced engineers to their team. Their achievements are clearly presented on the platform's official website.
- Business orientation. Thanks to the introduction of innovative technologies, the Ontology project opened up previously inaccessible opportunities for entrepreneurs that allow them to use blockchain technologies even in the absence of any skills to work with it.
- Solving the problem of trust in the cryptocurrency field. This point can be called the main advantage of the Ontology platform. Before the creation of the project, there was no possibility of working on a distributed ledger from the side of business processes.
- Ontology allows companies with little or no knowledge of cryptocurrencies to integrate blockchain technology into their operations. As part of working with the platform, entrepreneurs will be able to implement blockchain in their activities, even without preliminary preparation and study of this technology. This is a completely unique feature unique to the Ontology project.
Where to buy Ontology
There are two most popular ways to buy Ontology in New Zealand, one of which is through an exchange. A cryptocurrency exchange is a virtual commercial platform where members can buy and sell digital money online. Today there are many cryptocurrency exchanges in the world:
- Kraken and others.
Each of them has advantages and disadvantages. When choosing an exchange, be sure to carefully study the conditions for registration and withdrawal of funds. It is desirable to give preference to large, well-known exchanges: they have more income, some of which can be used to improve the security system.
Another simplest and most profitable way is to use Contracts for Difference - CFDs. Buying ONTs on the CFD brokerage platform is easy for novice traders because you are simply speculating on the ups and downs of Ontology without owning the asset itself.
With its help, a trader can make money with a small amount of free capital. Smart investors make good money on this. So the ability to use this financial CFD instrument is an important skill of any trader. Moreover, this applies to both beginners and experienced investors. Try it and you will definitely succeed!
How to start investing in Ontology in New Zealand?
Investing in Ontology is not like investing in traditional currency as Ontology is not issued by the central bank and is not supported by the government. Thus, monetary policy, inflation and measures of economic growth, which usually affect the value of a currency, are not applied in this case. If you decide to try your hand at crypto business, you only need a smartphone or computer with Internet access to start.
The first step is to register on any trading platform that meets three conditions at once:
- It is allowed to replenish the account with real money and exchange cryptocurrency using the funds of the platform itself;
- Restrictions on the minimum and maximum transaction amount, simple replenishment and withdrawal of money;
- The site has a practice account.
One of the most important decisions to make before investing in cryptocurrencies is to define your strategy. You need to know exactly how you will determine when to buy Ontology.
Let's consider the most common investment strategies. Note that they do not require deep knowledge of trading or understanding of all the nuances:
- Long term strategy. This strategy is focused on storing cryptocurrency for a long time without cashing it out. It is mainly used by novice investors, since such an approach is simple to execute and extremely understandable.
- Short-term strategy. It is a rapid response strategy that focuses on quicker operations in a shorter time frame. Investors open and close positions in hours, minutes and even seconds in order to capitalize on fast and small price swings.
- Trade. Buying low and selling high. The name of the strategy speaks for itself: buy when you think the asset price has dropped low enough and sell when it rises. This approach works consistently well when you know the market well.
Should traders invest in Ontology in New Zealand?
The Ontology project, which was launched as an add-on to NEO, is not going to be in the shadows all the time and plans to implement interoperability with other projects such as Ethereum, EOS and others. That is, they decided to become a universal platform for identifying and developing applications across various networks. This will significantly expand the scope of Ontology, but not only they came up with the idea to create a bridge between blockchain and real business. Blockchain consortia R3, Hyperledger and Enterprise Ethereum Alliance are also operating in this market.
Ontology also has a long way to go before completing the development of its platform, integrating with other blockchains and introducing its technology into the work of various companies. Therefore, we assess this project as promising, solving an urgent problem and developing in the right direction, but its team and community will have to make a lot of efforts to implement all these plans.
How to Buy ONT right now?
Even those who have never been involved in investments professionally are aware of the growth rate of the rate of popular cryptocurrencies. Every year, crypto businessmen add to the lists of the richest people in the world. The fate of cryptocurrencies will largely depend on legislation and judicial practice, but the trend for digital money will definitely not be reversed, and, probably, in the future, cryptocurrency will really replace traditional money.
It's never too late to start investing in ONT! Already now, everyone can discover wide opportunities for profitable investment. With a broker, you can start comfortable and productive crypto trading, and get loyal conditions and free training!
We wish you the best in your endeavors!