Hello, crypto community! 🌟 Today I will tell you about an incredible cryptocurrency — Ontology Gas (ONG). This is not just a token, but a real fuel coin for the Ontology ecosystem! ⛽️
What is ONG and what is it for?
This is a utility token used for paying transaction fees and executing smart contracts within the Ontology blockchain — the equivalent of GAS in the NEO network.
It serves as “crypto-fuel,” enabling the operation of decentralized applications and network transactions.
Distribution and how to obtain ONG
Ontology employs a dual token model: ONT — for staking and governance, and ONG — for paying network operations.
ONT holders can earn ONG through staking or exchanging via wallets (for example, ONTO Wallet) — this is a token swap service. Then ONG is used for transactions.
Technologies and advantages
Ontology is based on the VBFT consensus, where PoS, BFT, and VRF work together for fast and secure block processing.
It supports high performance, interoperability (EVM, Polygon, Arbitrum), and digital identification through ONT ID.