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FxWirePro: A Brief Look At Ontology With Daily Technical Analysis Of ONT/USD

Ontology

Ontology is a new high-performance public blockchain project. The main problem in public blockchain is scalability and Onotology addresses this problem using distributed trust collaboration platform. Ontology resolves problems such as poor privacy protection, untapped data value, data management monopolization, and ineffective identity authentication.

Public Block chain explanation:

A blockchain is so-called “public” when anyone can become a member of the network without conditions of admission.

Ontology provides new high-performance public blockchains with series of distributed ledgers and smart contract system.

Distributed ledger: It is also called as "shared ledger" that consists of replicated, shared and synchronized digital data across various sites.

Smart contract: It is a blockchain technology consisting of an algorithm that stores terms of agreement and automatically executes those terms.

Recent update

Ontology announces second half of airdrop and fixed Jul 9th as the assigned date for airdrop.

The first round airdrop has already completed where Neo token holders received 0.1 ONT per 1 NEO tokens in their respective NEO address. But the second half of airdrop of 0.1 ONT per NEO will be received on Mainnet ONT address instead of NEO address.

Airdrop: Airdrop is when a blockchain project distributes free tokens or coins to the crypto community.

Ontology (ONT) to launch Mainnet at the end of June 2018. The swap of token is possible through wallet of O3 labs.

Mainnet Definition

A blockchain usually has a Main-net and Test-net. One for transferring money and other is for testing.

Technical Analysis:

Technically, on the higher side near-term trend line resistance is around $5.84 and any break above will take the pair to next level till $6.55 (200- 4H MA)/$7.04.

The near-term support is around $3.89 and any break below will drag the pair to next level till $3.05.

It is good to buy on dips around $4.50-.55 with SL around $3.89 for the TP $6.55/$7.05.

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