Ontology Gas (ONG) is the utility token of the Ontology blockchain, a high-performance public network that operates as a distributed trust collaboration platform. Ontology uses a dual-token economic model in which ONT serves as the main coin used for staking and consensus participation, while ONG functions as the secondary token required to pay for on-chain services and resources. Since the Ontology MainNet launched on June 30, 2018, ONG has been released periodically in connection with network activity. Built as a Layer 1 smart contract platform, Ontology offers a complete framework of distributed ledgers and smart contract systems. The blockchain is designed to be configurable, allowing different public blockchains to be tailored for specific applications, and it supports cross-chain collaboration through a set of interoperability protocols. The project also develops reusable infrastructure modules for areas such as decentralized digital identity and distributed data exchange, providing common building blocks that can be applied to a variety of distributed scenarios.
The pause stops block production at block 20,770,893 with no public restart timetable and no confirmed exploit, leaving ONT and ONG holders watching for the next technical update.
Since the Ontology MainNet went live on June 30th, 2018, MainNet ONT has started to release ONG periodically. Ontology uses a dual token (ONT and ONG) model.
Ontology Gas (ONG) launched on 2018-06-30.
Ontology Gas (ONG) is categorised as: Smart Contract Platform, Layer 1 (L1).
The official Ontology Gas site is https://ont.io/.
Most recent Ontology Gas coverage: "Ontology Halts Mainnet to Investigate Security Concern" — read at /en-US/a/ontology-halts-mainnet-to-investigate-security-concern.
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