Another top 20 cryptocurrency, Ontology, launched its mainnet yesterday, June 30th, 2018.

The Ontology 1.0 blockchain will support a two-token model: the ONT token will be used specifically for the blockchain’s governance while ONG will serve as a utility token.

OnChain, based in China, launched Ontology in 2017 as a public blockchain platform for businesses of any size and level of business experience. Its trust network solution, designed to meet China’s immense demand for blockchain technology, aims to be compatible with any blockchain, device, industry or system.

Rather than focusing on a niche product area, Ontology use cases are very broad. Thus far, the approach has been quite successful for Ontology. The ONT token is currently ranked 19th by market capitalization at $785.26 million USD.

Ontology held a pre-launch event this week in San Francisco where founder Jun Li introduced Ontology’s technical background, structure and governance models to over 100 blockchain proponents from the U.S and China.

According to a BusinessWire report, “Ontology 1.0 provides new high-performance public blockchains that include a series of complete distributed ledgers and smart contract systems, and at the same time supports public chain customization and chain network collaboration, while continuously providing common modules in various distributed applications.”

Attending Ontology partners, including Contentos and CarBlock, discussed blockchain technology solutions in real-life business scenarios.

Ontology has also issued instructions and options for token holders to migrate their coins to the new network. Mapping over to the Ontology 1.0 main net will begin on July 9th, 2018 and must be completed by October 1st, 2018. Exchanges supporting the swap include Binance, KuCoin, OKEx, Huobi, Upbit and CoinEgg.

The post Ontology Main Net Launches appeared first on UNHASHED.

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