Few days ago, Ontology experienced a massive increase of 15% within the space of 24 hours. Interestingly, this same digital asset occupied the 27th position in the previous week, but in a shocking turn of event, the cryptocurrency is suddenly on the 21st position, based on data obtained from Coinmarketcap.
What Ontology Is All About
Ontology is a public blockchain of high performance with a token named ONT. With ontology, the problem of scalability becomes finally addressed by the implementation of a distributed trust collaboration platform.
ONTology (ONT) Takes the Bull by the Horn
While a lot of cryptocurrencies are yet to find a balance, Ontology (ONT) is already moving with purpose and displaying bullish signs. The same day the currency won significant growth, the ONTology platform became featured on mainstream media of Cloud marketplaces. Based on a recent release, ONTology says that it is the first to begin on Amazon Web, Microsoft Azure, and Google Cloud. Here is a statement from the official blog:
“Using the ONTology Development Platform on one of these cloud providers allows you to play around with and develop smart contracts without having to go through the fuss of configuring and setting up an environment locally.”
Furthermore, it was revealed that ontology is now Google Cloud Technology Partner which has created a collaboration with Google in the area of marketing. In addition to the Google cloud program, ONTology platform aims to make the tech community stronger.
The price surge of ONTology cannot be separated from its Google Cloud update because the rise of its price began as soon as the media got wind of the announcement.
Ontology, the creation of Erik Zhang and Da Hangfei, was established in 2017 by Onchain, a Chinese company.
The platform is a public one and is believed to be a solution to the barriers existing between the business sector and blockchain.
Ontology is also believed to be the second generation of digital assets which was created to be free of the flaws found in the first generation of cryptocurrency. Lack of scalability is the main flaw of the first generation of digital assets.
Ontology is a platform which plans to integrate every sector, even the government sector. It functions as a distributed ledger network that combines distributed procedure protocols, distributed communities, and distributed data collaboration.
Ontology provides a peer-to-peer trust network that can be used for cross-chain, cross-device and cross-application. It uses a chain network for scaling, security and communication protocol.