Ontology (ONT) MainNet launch goes live, know more about it

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June 30, 2018 by
Ontology (ONT) MainNet launch goes live, know more about it

Ontology simply introduced that their MainNet has actually been released. Apparently, the token swap of NEP-5 ONT for ONT remains in progression. Ontology Network tweeted: “Ontology 1.0 is now live. Thanks for visiting the brand-new world”.

Ontology’s two-token model

Ontology started a two-token design for managing a dual token system. The stated symbols can be used for trading, saving network, sending and also completing electronic contracts. Among the symbols (ONT) is especially designed for governance, whereas the various other one (ONG) is an energy token. The ONT holders can likewise use it for voting on the crypto exchange system.

See likewise: Ontology gets first budget assistance, announces second-half of airdrop

ONT Mapping

Its blog points out numerous mapping directions to migrate to the Ontology MainNet. The blockchain has offered 2 approaches of ONT mapping. The first one is to automate the mapping as well as to do so one needs to maintain the ONT tokens on the sustaining exchanges. The respective exchange will finish the mapping process for the customer. The 2nd technique includes sending out the tokens from the NEO wallet to one’s MainNet mapping address. It will certainly migrate to the ONTO, nonetheless, it will only appear in the pocketbook after it releases in July.

Moreover, it has offered a platform to track the swap standing any time prior to the ONTO wallet’s launch. It is to be noted that the two budgets NEO and ONTO have the typical address, WIF and also exclusive secret, just as in the past. Also, the mapping duration would not stop or interrupt the usage of the NEO purse. It was additionally kept in mind that the NEP-5 ONT symbols will instantly be damaged after the MainNet launch and also the process will finish within 24 Hr. The ontology also alerted in its blog site that nothing else property apart from ONT from one’s purse should be sent because there is no recovery technique for that.

See likewise: Ontology [ONT] – Contentos sign up with hands for offering blockchain service

Ontology (ONT) Market Efficiency

The MainNet pre-launch occasion occurred on June 26 where along with its companions, it talked about the main use-cases of it in reality. A miraculous rise of 13.47% in its price, a day prior to the event. In the last month, ONT’s highest approximated price is $8.82, with a market cap of over $1 billion. In the very same timespan, the lowest approximated figure is $4.27 with a market cap of around $646 million. The ONT cost increased up by 8.10%, trading at $5.28 with the market cap of $7.98 B.

Picture via Shutterstock

shekar

A mechanical engineer turned journalist, Shekar takes a keen interest in the study and analysis of cryptocurrencies and blockchain strategy. With the cryptocurrency world blooming in the recent days, he finds great interest in monitoring their growth and gathering every possibleA piece of information about them. He works as a crypto-journalist for the website Abitcoinresource.

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