Ontology (ONT) focuses on incorporating businesses from all sectors into the blockchain technology. Individuals and different institutions can also join in to create their own blockchains or applications on the Ontology platform. The development team of the crypto coin claims that different trust mechanisms have been used to develop a unique decentralized trust mechanism that will make the public blockchains and applications secure. In fact, the recent announcement of the partnership of two giants NAGA and Ontology is expected to bring a new look to the fintech market.
NAGA and Ontology Partner Up to Redesign Fintech Market
On the 3rd of May 2018, Ontology and NAGA announced that they will work together to bring on a “significant and powerful change” in the approach taken by a company to do business. By this partnership, Ontology will take a step closer to its goal that is, introducing public blockchains along with smart contact systems and complete distributed ledgers to the financial-technology or fintech market.
NAGA is often considered to have one of the most rousing ecosystems in the cryptocurrency market and is the first to offer a secure and transparent escape route to the cryptocurrency world to a financial instrument. Ontology was released in the crypto market in late March 2018 and is studiously working on providing a distributed trust collaboration platform. This partnership will see the two giants putting their heads together to create a new generation of distributed trust mechanisms and public blockchain that will become the base of real business applications and situations. They will experiment in application development areas, outreach and incubation.
“We are super excited about the Ontology project and we are eager to announce new developments in cooperation with the platform. We believe that it will help to boost and grow our business exponentially.”
- Benjamin Bilski, NAGA Founder and Executive Director
“We are happy to welcome NAGA to build up the application ecosystem through wielding Ontology’s next-generation public chain infrastructure […] We feel confident that together we can open up the international market, expand the Ontology ecosystem, and advance global blockchain development.”
- Juni Li, founder of Ontology (ONT)
Presently, NAGA is working on projects like NAGA TRADER, NAGA COIN (NGC), NAGA WALLET, and NAGA CARD. Moreover, the ecosystem of NAGA is well accepted in the cryptocurrency space. Ontology’s inclusive trust mechanism will only strengthen this massive project. It is not only that their objectives match, this partnership is logically sound too. Looking at the objectives of these two giants, NAGA wants to provide the best products and financially incorporate everyone and Ontology is completely centered on identity, trust, data exchange, and authorization. Ontology is also trying to incorporate the medical space, government and insurance industry in the blockchain technology. Joining hands will ensure a secured space that will help in financial inclusion of the individuals.
UPbit Listing Ontology (ONT)
Prior to the partnership announcement, on the 2nd of May 2018, another big event took place in the pages of Ontology (ONT). In the Twitter account of UPbit exchange it was revealed, “Thursday 23:00:00 (KST) #Upbit will give 5% of $ONT holdings to customers who hold ONT coins at the time of the snapshots. Maximum Payout is 1,000 ONT weekly up to 125,000 ONT per week. If coins are sold or withdrawn, accounts will not be eligible for payouts. @OntologyNetwork”
The new UPbit listing of Ontology (ONT) had caused the price to surge a little, considering it was released in late March. One can only expect that the news of NAGA and Ontology partnership and the UPbit listing will cause the price of ONT to rise. At the time of writing the price of ONT shows approximately $9.80 USD and a market cap of nearly $1,103,683,909 USD on coinmarketcap.com. (As of 4th May 2018) Now, it is to be whether the price action continues to move in the positive in this weekend and even later on.
Launch of SmartX, a Smart Contract Tool
It seems that the pages of the diary of Ontology (ONT) are full and the crypto coin is more likely to continue to add some serious partnerships and features in its bag. These are also going to attract some investors, keeping a positive effect on the price action. The only thing to do now is to wait and watch the ‘progress’ of Ontology (ONT).
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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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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.
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