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Partnerships, Listing and More in the Diary of Ontology (ONT)
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
The launch of SmartX by Ontology (ONT) comes with many unique features that help in wiping out all the issues of a smart contract. The users often find it difficult to develop the products due to limitations in the programming tools of smart contracts. With SmartX, the users can compile, set up and invoke smart contracts easily. Presently, SmartX supports C# and Python language but, in the future Java, JavaScript, Go Rust and some other programming languages will be incorporated. SmartX, an integrated development environment (IDE) can be used by the developers to customize the contracts.
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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