Bringing Trust, Privacy, and Security to Web3 through Decentralised Identity and Data Solutions
What is Ontology Gas?
Ontology is a network of public blockchains with a distributed, trust-based collaboration platform. Trust is an important part that dictates how human interacts with each other. Most blockchains operate on a trust-less ecosystem. However, trust-less blockchains also present some issues such as regulation, identity verification, community management. Ontology aims to solve this problem through its modules such as Distributed Identity Framework, Distributed Data Exchange Network and others.
There are two tokens in the Ontology network: ONT and ONG. ONT functions as utility token in the network while ONG acts as transaction fees token. ONT can be used for storage (store of value), transfer of value (payment) and also for voting rights (governance). Meanwhile, ONG is used when executing smart contract on the network and as the fees within the network. This dual-token system will help the network fees to be predictable and therefore providing a sustainable environment. There is a maximum supply of 1 billion ONG token.