Ontology Gas (ONG)

Ontology Gas (ONG) is a native utility token of the Ontology blockchain project. It is used to pay for transaction fees, resource access, and smart contract executions. The Ontology network was founded by Jun Li and Da HongFei, the founders of the popular cryptocurrency NEO, and it was launched in March 2018. Ontology Gas (ONG) is mainly used to pay for transactions on the Ontology blockchain. The cryptocurrency can also be used to pay for Gas when using the Ontology smart contracts. When users pay with ONG, there are minimal transaction costs compared to other network payments. The Ontology blockchain platform is designed to bring blockchain technology to sectors that have yet to adopt it, such as insurance and biomedical services. All members of the system can benefit from enhanced data security and real-time sharing features. It also allows for customized public and private blockchain, which can be used for commercial purposes. The Ontology Gas (ONG) Token is also used for staking, wherein users receive rewards for staking their tokens for a certain period of time. The maximum amount that can be staked to the Ontology network is 100,000 ONG. Another unique feature of Ontology Gas (ONG) is that it supports smart contracts and distributed applications (Dapps). Smart contracts are lines of code that are used to create self-executing agreements between parties. These contracts are secured by cryptography, ensuring that they cannot be tampered with and providing added peace of mind. Ontology Gas (ONG) can be bought and sold on various cryptocurrency exchanges, such as Binance, Huobi, and OKex. The cryptocurrency can be stored in various wallets, such as the official Ontology Windows wallet and the Ledger Nano S hardware wallet. Overall, Ontology Gas (ONG) is an essential part of the Ontology blockchain project. Its main purpose is to pay for transaction fees, access resources, and execute smart contracts. It also supports staking and smart contracts, giving users the ability to complete complex transactions with total security and peace of mind. ONG can be bought and sold on various cryptocurrency exchanges, as well as stored in a variety of wallets.