What is Ontology (ONT)? | Ontology Crypto Explained in Under 60 Seconds

The Ontology Network is an open source blockchain that provides a suite of decentralized protocols to solve issues related to identity security and data integrity. The Ontology Coin (ONT) is the cryptocurrency that powers Ontology.

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The Ontology coin (ONT) is used for governance of the Ontology platform and staking to receive ONG (gas tokens).

Ontology protocols include a decentralized identity framework (ONT ID), and a distributed data exchange & collaboration framework (DDXF).

The Data Marketplace (SAGA) is a decentralized data marketplace for users to securely monetize & acquire data using a decentralized identifier (DID).

With Data Attestation, data can be stored on the blockchain, providing enterprises with a low cost storage solution that doesn’t compromise data privacy.

Digital FInance - With blockchain technology (such as stablecoins, payment networks & crypto-backed cards), Ontology companies can easily move into the banking & financial sector.

WEBSITE: https://ont.io/