Ontology (ONT) is a blockchain platform that aims to provide a framework for building and deploying decentralized applications (DApps) and blockchain-based solutions for businesses and organizations.

Blockchain

Ontology focuses on bridging the gap between traditional businesses and the blockchain ecosystem. It employs a multi-layered architecture to accommodate different use cases and requirements. It consists of multiple interconnected blockchains, each tailored to specific applications, such as public, consortium, and private blockchains.

Ontology places a significant emphasis on digital identity solutions. Its decentralized identity framework (ONT ID) aims to provide secure and self-sovereign identity management for individuals, organizations, and objects.

Smart Contracts and tokenization

Ontology supports the development and execution of smart contracts, enabling developers to create and deploy programmable applications that execute automatically when predefined conditions are met.

It also provides the infrastructure for creating and managing digital assets on its platform. It allows users to tokenize real-world assets and manage them on the blockchain.

Native tokens

ONT is the native utility token of the Ontology platform. It is used to participate in network governance, stake for rewards, and pay for transaction fees.

The Ontology network involves a governance mechanism where ONT token holders can participate in decision-making processes, such as protocol upgrades and changes.

Ontology Gas (ONG) is a separate token used for transaction fees on the Ontology network. It's generated by holding ONT and can be used to cover the costs of transactions and interactions within the platform.