Ontology

Halal Rating :
Comfortable
Last Price $0.24 Last updated:
Rank 300
1D Change 2.51 %
Market Cap $221.04m
Circulating supply 907,697,857
Maximum supply 1,000,000,000
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Enterprise Solutions
  • Identity
  • Polkadot Ecosystem
  • Metaverse
  • Huobi Capital Portfolio
  • Fantom Ecosystem
  • Web3
  • Near Protocol Ecosystem
  • BNB Chain

Purpose and Utility

Ontology is a high-performance public blockchain designed to provide a distributed trust collaboration platform. It aims to build a bridge between the real world and blockchain by implementing decentralized identity solutions, data exchange protocols, and various industry-specific modules.

Business Model Analysis

The project's business model focuses on legitimate use cases including digital identity management, data exchange, and cross-chain interoperability. These core functionalities align with halal principles as they provide actual utility and don't involve prohibited activities.

Real-World Adoption

Ontology has established partnerships with various businesses and organizations, particularly in Asia. The platform is actively used for digital identity verification and data exchange services. Their ONTO wallet has over 400,000 users.

Platform Development

The project maintains active development with regular GitHub commits. The team continues to expand the ecosystem through partnerships and technical improvements. Notable developments include their dual-token model (ONT and ONG) and their SAGA protocol for cross-chain interactions.

Token Distribution

The initial token distribution allocated 12% to the Ontology team and institutional partners, with 28% reserved for ecosystem development. The remaining 60% was distributed through community drops and ecosystem building. Vesting periods were implemented for team allocations.

Revenue Model Analysis

The platform generates revenue through transaction fees and ecosystem participation, rather than interest-based mechanisms. The dual-token model uses ONT for staking and governance, while ONG serves as the utility token for network fees.

Crypto Impact

To assign a comfort level investing in Ontology from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Ontology.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

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