THELOGICALINDIAN - n-a
A new acceding for the Ontology Network that will hopefully accommodate an identity-verification band-aid has been accustomed able-bodied by the market. The account has led the ONT badge amount to breach through the $2 barrier; a two ages aerial for its absolute value.
Ontology’s amount aggregation said in an official blog post they had active a announcement of compassionate (MOU) with Shufti Pro, an character analysis provider. The two projects alive calm to see if Ontology’s blockchain can be leveraged to actualize an able and authoritative adjustable AML/KYC solution.
Announced beforehand today at about 10:00 BST, the account has so far been well-received by the market. The ONT badge amount started the day at about $1.92 but acicular to aloft the $2 mark at the time the blog column was released. Individual tokens are trading at $2.05 at the time of writing, giving the bread a absolute amount of $425m. The bazaar cap is at its accomplished akin back backward July, added than two months ago.
As allotment of the MOU, the two companies will coact on creating a new artefact or account for character verification; Ontology will additionally accommodate the ability and advice on blockchain technology. Both accept said the entente has appear out of agnate compassionate and appetite to accommodate a added attainable and defended character analysis service. “We accept followed their [Ontology’s] progress with absorption for some time, and now is the appropriate time to move forward,” said Victor Fredung, CEO of Shufti Pro.
“The actualization of blockchain technology creates opportunities beyond to ascertain abeyant and able solutions,” said Andy Ji, CEO of Ontology. “Ontology is admiring to activate this adventure with Shufti Pro, accumulation blockchain technology with character analysis services, accouterment a blockchain-based end-solution for KYC/AML services”.
The Ontology Network
The Ontology arrangement launched aback in November 2024 to actualize defended blockchains that companies could use to cautiously abundance abstracts and arcane information. Rather than one aggregate ledger, Ontology is a arrangement of blockchains. Each ONT blockchain has a permission-feature that enables authorised parties to calmly admission a defended database, safe from analytical by alien third parties.
Created by the tech aggregation Onchain, the it was founded by Da Hong Fei and Erik Zhang, who additionally created the blockchain belvedere NEO. Rather than staging an ICO, ONT tokens were airdropped assimilate the NEO blockchain throughout February 2018.
Similar to NEO, Ontology has a two-tier badge model. Following the mainnet barrage in June, ONT tokens can be acclimated to advice in the babyminding of the network; whilst its ‘gas token’, ONG, is acclimated to advice ability affairs fees that booty abode on the blockchain.
ONT Token Price
An MOU is not a full-fledged agreement. It ability able-bodied be that annihilation comes from the accord of Shufti Pro and Ontology. But as the ONT badge amount today shows, its a able sign.
The abstract acreage of Ontology covers the abstraction of actuality and the catechism of actuality itself. The arrangement is introducing new appearance that will advice assure and defended abstracts and advice captivated on its assorted blockchains. It is allowance to accompany itself into existence.
The columnist is invested in NEO, which is mentioned in this article.
