Ontology Gas
Crypto Overview
Overview
Ontology Gas (ONG) serves as the utility token for the Ontology blockchain network. It is used to pay for transaction fees and smart contract execution on the network, similar to how ETH functions on Ethereum. ONG is automatically generated and distributed to ONT holders, who can then use it for network operations.
Intended Utility
The primary purpose of ONG is to serve as the utility token that powers the Ontology network's operations. It was designed to handle network resource allocation, reward validators, and facilitate the execution of smart contracts. The token maintains a clear separation between network governance (handled by ONT) and utility payments (handled by ONG).
Actual Usage and Adoption
On-chain data shows that ONG is actively used for its intended purpose, with consistent transaction volumes related to network operations. The token demonstrates legitimate utility through its role in powering smart contracts and dApp operations on the Ontology network. Development activity remains steady, with regular updates to the protocol and growing ecosystem partnerships.
Token Distribution and Founder Assessment
The distribution model of ONG is tied to ONT holdings, with tokens generated through a transparent mechanism. There are no concerning patterns in founder token holdings or suspicious selling activities. The team maintains active development and communication with the community.
Revenue Model and Technology
The revenue model is based on network usage fees rather than interest-bearing mechanisms. The technology focuses on providing blockchain infrastructure services, with no inherent involvement in prohibited activities. The staking mechanism used follows a delegated proof of stake model that aligns with halal principles as it represents actual network participation and value creation.
Crypto Impact
To assign a comfort level investing in Ontology Gas 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 Gas.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.