Ontology Gas (ONG)

The exchange rate of one ONG at 15:16 UTC is 0.481$

Chart | Average rate

“Ontology Gas” (ONG) is one of 2 crypto assets (ONT and ONG) that power the “Ontology” blockchain. This blockchain is business-oriented and high-performance (can process many transactions at the same time), it focuses on solving issues such as identity security and data integrity (data accuracy and consistency).

Ontology Gas appeared in 2018 when the Ontology project launched its network and moved from using another blockchain (NEO) to its own blockchain.

In the ecosystem, the Ontology ONT gives its owners two things:

- Management rights, for example, on network changes.

- Staking reward: by freezing your ONTs, you contribute to the security of the network by helping to validate transactions. In turn, the network gives you ONG.

If we think of Ontology as a road, then Ontology gas is a road toll. In this it is similar to Ethereum gas. But Ethereum payment is made in the main cryptocurrency (ETH), while in Ontology a special token (ONG) is allocated for this.

This means that ONG presents an interesting passive income opportunity even if you are not using the Ontology platform for its intended purpose, such as secure identification.

This income is not so small. ONTCalc (ONG Compensation Calculator) shows about 4% annual income. It turns out that using ONT to receive ONG is a good way to earn extra money on your cryptocurrency.

The following should be taken into account in particular:

- ONT is in the TOP25 cryptocurrencies by market capitalization

- Ontology is backed by the same company (Onchain) as NEO

- Onchain is in the TOP50 Chinese fintech companies.

- Onchain develops blockchain for Alibaba

Thus, it is definitely worth considering downloading the wallet and start earning Ontology cryptocurrency.

To start earning, you need a wallet that supports receiving ONG through staking.

The cost of any Ontology transaction is 0.01 ONG, including ONT and ONG transfer. It seems pointless that you have to pay ONG to get ONG. But technically, receiving ONG is also a transaction that is recorded in the Ontology blockchain.

In addition to earning ONG by staking ONT, it is possible to exchange another cryptocurrency or fiat money for ONG on the exchange.