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What is Ontology Gas (ONG)?
Ontology Gas basic info
Name:Ontology Gas
Ticker:
ONGBuy now
Introduction:
What Is Ontology Gas?
Ontology Gas, or ONG, is the native token of the Ontology blockchain. Launched in 2018, Ontology is a high-speed, low-cost public blockchain designed to bring decentralized identity and data solutions to Web3. ONG plays a critical role in this ecosystem, acting as the fuel that powers transactions, smart contracts, and data processing operations on the Ontology blockchain.
As a dual-token system, Ontology employs both ONT (Ontology Token) and ONG (Ontology Gas) to manage and secure its network operations. While ONT is used primarily for staking in network governance, ONG is distributed to ONT holders as a form of gas fee, incentivizing participation and transaction validation on the network. This model ensures a sustainable utility mechanism where users are rewarded for their contributions to network security and stability.
Resources
Official Documents:
https://docs.ont.io/
Official Website:
https://ont.io/
How Does Ontology Gas Work?
Ontology Gas is designed to facilitate various operations within the Ontology network. It is used to pay for transaction fees, storage, and the deployment and execution of smart contracts, making it an indispensable resource for developers and users alike. When transactions or smart contracts are processed on the Ontology blockchain, ONG is consumed to compensate for the computational resources used. This mechanism not only keeps the network efficient but also prevents spam transactions by imposing a cost on the computation.
The distribution of ONG is based on the holding of ONT tokens. ONT holders are periodically rewarded with ONG, which can then be used to execute transactions or deployed in the network’s consensus process as part of the staking mechanism. This dual-token strategy enhances user engagement by allowing holders to participate directly in the governance of the blockchain while ensuring they have the necessary resources to use its services.
What Is ONG Token?
The ONG token serves multiple purposes within the Ontology ecosystem. As the practical "currency" of the platform, it provides a means to manage and pay for operational costs and services. Developers require ONG to deploy and run their applications, which includes updating or executing smart contracts. Additionally, ONG is used to execute transactions and for storage payments, ensuring that those who use more resources contribute accordingly to the network’s maintenance. ONG has a total supply of 1 billion tokens.
What Determines Ontology Gas’s Price?
The price of Ontology Gas (ONG) is primarily influenced by the classic economic model of supply and demand. As ONG is essential for executing operations such as transactions and smart contracts on the Ontology blockchain, the demand for ONG increases with the adoption and use of the Ontology network in Web3 applications. Factors such as network growth, increased user activity, and the expansion of Ontology’s services can lead to a higher demand for ONG, potentially driving up its price.
Moreover, the price of ONG is also significantly affected by market volatility and the broader state of
blockchain technology and cryptocurrency regulation. Fluctuations in
ONG price can be triggered by latest news involving technological advancements, regulatory updates, or shifts in cryptocurrency trends that impact investor perception and confidence. Investors and users keeping a close eye on cryptocurrency charts,
cryptocurrency analysis, and cryptocurrency price predictions can witness real-time changes in market sentiment, highlighting the inherent risks and opportunities in investing in tokens like Ontology Gas as a crypto investment for 2024 and beyond.
For those interested in investing or trading Ontology Gas, one might wonder: Where to buy ONG? You can purchase ONG on leading exchanges, such as Bitget, which offers a secure and user-friendly platform for cryptocurrency enthusiasts.
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Current price:
$0.3119More price details
All-time high:$4.59
All-time low:$0.03934
ONG supply and tokenomics
Circulating supply:400,710,820 ONG
Total supply:1,000,000,000 ONG
Max supply:1,000,000,000 ONG
Market cap:$124.98M
Fully diluted market cap:$311.91M
Links
Buy Ontology Gas for $1Buy ONG now
What is the development prospect and future value of ONG?
The market value of ONG currently stands at $124.98M, and its market ranking is #396. The value of ONG is not widely recognized by the market. When the bull market comes, the market value of ONG may have great growth potential.
As a new type of currency with innovative technology and unique use cases, ONG has broad market potential and significant room for development. The distinctiveness and appeal of ONG may attract the interest of specific groups, thereby driving up its market value.
What will the price of ONG be in 2025?
Based on ONG's historical price performance prediction model, the price of ONG is projected to reach $0.4133 in 2025.
What will the price of ONG be in 2030?
In 2030, the ONG price is expected to change by -9.00%. By the end of 2030, the ONG price is projected to reach $0.5870, with a cumulative ROI of +80.45%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of ONG and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.
Is ONG worth investing or holding? How to buy ONG from a crypto exchange?
If you want to buy ONG, the following information may be helpful for your investment decisions:
In the last 7 days, the price of ONG has fallen by -8.35%, leading to negative returns for most ONG investors. The market is currently pessimistic about the price trend of ONG.
It is important to note that the current price of ONG has retreated by -93.21% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether ONG is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in ONG or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of ONG, if you want to buy or sell ONG, you can consider Bitget for your trading needs. The best place to buy ONG is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Ontology Gas has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Ontology Gas. Here's a step-by-step guide on how to buy Ontology Gas on Bitget.
How to get Ontology Gas through other methods？
Using cash to buy Ontology Gas is not the only way to obtain Ontology Gas. If you have the time to spare, you can get Ontology Gas for free.
Learn how to earn Ontology Gas for free through the Learn2Earn promotion.
Earn free Ontology Gas by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Ontology Gas airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Ontology Gas through Bitget Convert, Bitget Swap, or spot trading.
What is Ontology Gas used for and how to use Ontology Gas?
The use case of Ontology Gas may expand as the crypto market and the project itself develop. Currently, you can use ONG to achieve the following goals:
Arbitrage by trading ONG: Since ONG is a frequently traded cryptocurrency, the price of ONG is always fluctuating. Earn more ONG by buying low and selling high on the exchange. Bitget spot market provides a variety of ONG trading pairs to fully meet your needs.
Earn by staking ONG: You can also generate income through financial management methods such as staking ONG or lending ONG. Bitget Earn offers a variety of financial products designed to help you earn more income from your ONG.
Send or pay ONG: If you want to give ONG to your friends, a charity, or a fundraiser, or you want to pay someone with ONG, you can quickly and easily send ONG to the recipient through their payment address.
You can also go to the official website of the Ontology Gas project to learn more about the use cases of ONG. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .
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