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Ontology Olympus Accelerator, Partnerships and More

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Ontology had announced the launch of ecosystem accelerator, Ontology Olympus Accelerator (OOA) in early June. Released in the cryptocurrency market in March 2018, the high-performance public multi-chain and a distributed trust collaboration platform Ontology has already made it to the top-20 cryptocurrencies in the world. (As per coinmarketcap.com, 20th June 2018) The program summons product experts and technology from different fields to join hands in entrepreneurship and develop various business applications. These applications will be based on Ontology’s new public chain infrastructure that will help in creating an open source, collaborative distributed trust ecosystem. The Ontology Olympus Accelerator program has been structured to support all technical, funding, marketing, and legal works. The Ontology Foundation has decided to invest 1.5 billion USD worth of tokens approximately. These tokens will be used to support the teams selected and the existing start-ups.

Ontology Olympus Accelerator will facilitate custom business chain development, blockchain-based general hardware service platforms, collaboration with industry partners from different sectors, ecosystem community collaboration, Ontology user system collaboration and so on. Apart from these, OOA will add more ecosystem incubation depending on the requirements of the ecosystem. Ontology Advisors Group (OAG) has been created to offer different strategies and provide proper guidance for the Ontology ecosystem. Ontology Global Capital (OGC) has been created to provide support through funds. The project that will receive funds will be decided by a top blockchain ecosystem investment team. It is expected that Ontology will bring out the Ontology Olympus Accelerator details in July.

“Building the trust ecosystem goes hand in hand with the technology, applications, and governance of Ontology. This is nevertheless a huge and arduous task. We decided to launch the Ontology Olympus Accelerator precisely to develop the Ontology trust ecosystem and accomplish its goals. We hope with this accelerator program that more talent and applications can be added to the Ontology ecosystem, integrating technical elites internationally and the technical strengths of various partners to jointly build our cross-chain, -system, -industry, -application, and-terminal distributed trust ecosystem.”

  • Jun Li, founder of Ontology (ONT)

Partnership between Ontology (ONT) and CarBlock (CAR) Transport System

With the help of Ontology chain network model CarBlock will build a blockchain-based transport data platform. The collaboration will be between intelligent vehicle hardware and the technology behind Ontology. The upcoming months will be crucial as to what will be the output of this partnership. CarBlock will have the function of developing the platform that will store transport data depending on the information relayed by the blockchain technologies provided by Ontology and CarBlock. The chain network system of Ontology and the Internet of Things capabilities of the CarBlock ecosystem are crucial in this project.

The use of the distributed ledger technology in the transport system has the capability of rejuvenating the US automotive industry. Even though the industry amounts to nearly $1 trillion USD, it is facing stiff competition from markets of other countries. Ontology has had a big part in this latest venture of CarBlock as per its founder’s opinion. On the part of the Ontology network, it is another step towards collaborating blockchain technology with real economic strategy. In Jun Li’s words, “Our partnership with CarBlock will ensure effective circulation of transport data, integration of Ontology with the smart transport field, and overall enrichment of the Ontology ecosystem.” It should be remembered that the ultimate goal of Ontology is to create a global ecosystem that will ensure a secure and trusted economic system.

Partnership between Ontology (ONT) and Contentos

Ontology (ONT) and Contentos has grabbed the attention of the content industry with their recent partnership announcement. They will join heads to work on two projects that will aim at blockchain research, developing applications as well as community building. The technology of Ontology Global Capital will redefine the content industry by investing in Contentos. The first joint project has been named as “Multiple Blockchain Solution Initiatives”. It will be focused on integrating digital content industry with the physical world such that it will meet the need for better cooperation opportunities and service experiences within the society. The objective is to establish a bond between the distributed digital systems and physical businesses and how it will be incorporated in various industries. The focus is also on creating a simplified system such that anyone can enjoy the benefits.

“Broad Cooperation in Blockchain Development” is the second project that will further the decentralization of the content process. The focus of both the teams (Ontology and Contentos) is on taking an open-minded approach when building their blockchain, and in the process, eliminate the ongoing competition among public chains trying to differentiate themselves from each other.

Price details

During the Q1 phase and its remnant effects in the early Q2 phase of 2018, Ontology (ONT) was one of the rare crypto coins that managed to maintain an overall bullish trend. The price of ONT at the time of writing, as per coinmarketcap.com, shows approximately $6.52 USD. The market cap of ONT is nearly $986,558,117 USD while the volume (24h) is over $102,775,000 USD. (As of 20th June 2018)

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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