Ontology Gas $ONG

Ontology Gas, commonly known as ONG, is a utility token associated with the high-performance public blockchain project, Ontology. Established when the Ontology MainNet went live on June 30th, 2018, this project implements a dual token model – ONT and ONG. ONT, the coin, is used for staking in consensus while ONG is primarily utilized for on-chain services.

About Ontology

Ontology is a novel public blockchain project that also serves as a distributed trust collaboration platform. It designs innovative public blockchains which comprise a series of full distributed ledgers and sophisticated smart contract systems. The framework of the Ontology blockchain supports several public blockchain systems and has the flexibility to customize different public blockchains to cater to diverse applications. With its various protocol groups, Ontology encourages collaboration among chain networks.

Ontology's Modules and Future Aspirations

Ontology is resolute in its commitment to offer common modules on the underlying infrastructure for an array of distributed scenarios. These include modules for the distributed digital identity framework, distributed data exchange protocol, among others. Matching specific scenario requirements, Ontology will persist in developing new common modules to adapt to future advancements in the blockchain industry.

Ontology Gas (ONG) in the Ecosystem

ONG plays an essential role in the Ontology ecosystem. As the utility token, ONG is used for on-chain services, confirming its importance in the system. With the innovative approach that combines ONT for staking and ONG for on-chain services, Ontology has strategically positioned itself as an influential player in the crypto world.