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Ontology (ONT): Partnerships and Triones Seed Note Recruitment

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Ontology
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Ontology has recently announced its partnership with COT on 28th May 2018. COT became the first strategic partner of ONT in technology and intelligence. The aim is to increase opportunities and improve their standings in the cryptocurrency world. The major concern is structuring the required hardware to compute IoT (Internet of Things) on the technology. This is of utmost importance as their multi-chain network will not function properly in the blockchain. Being a provider of IoT network, Chain of Things (COT) has an experienced technology faculty team in the field of intelligence hardware and IoT.

Chain of Things is looking forward to collaboratively build a platform on the network’s chain. The project will be guided by Ontology’s strategy. The newly built platform will focus on trust and transactions and thus strengthen business and the support communities. They will join their core technologies to solidify the platform. According to Wen Wang, the founder of COT, the objective of the COT cooperative public chain system is to address the areas in which businesses are facing problems. Partnering with Ontology means that they will jointly “establish a data exchange and digital identity collaboration platform to jointly promote the development and success of a system which fully integrates objects with our digital world.”

The framework of Ontology (ONT) supports systems of the blockchain in public as well as enables the developers to custom them for various applications. Another reason for this collaboration is that Chain of Things is focused on an ecosystem that is run by multi-chain in the blockchain technology.

Triones Seed Note Recruitment and Consensus System

Following the first IoT partnership with Chain of Things (COT), Ontology announced the Triones seed note recruitment plans officially on 31st May 2018. The recruitment began on the first of this month and the list of candidates for the first cycle will be revealed on 16th July. Interested parties can register through the official website of Ontology itself. Those who participate in the Triones seed recruitment will receive ONG from basic consumption of the entire multi-chain network system that includes storage fees, network fees, smart contract fees and other charges. The participating nodes will also get an extra 1% ONG per annum from the community incentives portion.

Verifiable Byzantine Fault Tolerance (VBFT) is the consensus mechanism of the Ontology network. It is a combination of Verifiable Number Function (VRF), Proof of Stake (PoS), and Byzantine Fault Tolerance (BFT). According to the Ontology team, this combined mechanism will “dynamically select candidate nodes that meet certain conditions to form a consensus network and be responsible for performing consensus.”

Ontology plans to put a “compensation/lease” cost model in place where the ONT token holders will be able to receive ONG tokens. The ONG tokens will act as utility tokens such as to utilize the blockchain services. From here a part of the ONG tokens used will be reserved for the Triones Consensus Nodes. The cost model of Ontology will be regulated by OngLimit, the unit price OngPrice, and the marker of the smart contract executions. The users will have the flexibility to get their blocks in the front for consensus node mechanism by paying a premium. According to the official release of Ontology, the system and network fees will be given to the governance contracts on completion of the transactions. ONG will be equally distributed among the participating nodes.

Unlike ONT tokens, ONG tokens can be divided up to the eighth decimal point. As ONT will be transmitted on the Ontology blockchain, the unbinding of ONG tokens will start. The sender and the receiver of the transactions will be authorized by the ONG governance contract to manually extract the unbound ONG tokens to their wallet. The rate at which ONG will begin to unbind depends on the amount of ONT held and the amount of time. As per the ONG unbinding list, “around 16% of ONG will be unbound in the first year, around 47% in the first four years, and around 82% in the first 12 years.”

The Triones Consensus System consists of

  • Consensus node group: It is made up of seven entities or individuals that have been selected in the candidate approval process. They usually have a high stake through ONT token ownership (above 100,000 ONT).
  • Candidate node group: This is built into the consensus design that will most likely have large-scale deployment in future (>2400) nodes. The node costs and the volume of business done on the Ontology chain make the way for adjustments in the candidate network size.
  • Dynamic participator node group: Anyone who holds ONT will have a stake in the Triones Consensus System governance.

According to Ontology’s founder Jun Li, “Users of different sizes can participate in the governance model through different forms and methods. The research into public blockchain governance is a continuous and dynamic process, and Ontology sincerely welcomes community feedback and suggestions. We will also continue to summarize experiences from our practice, and work towards optimization of public chain governance and the realization of its values.”

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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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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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