Ontology Gas (ONG) is a cryptocurrency that is used to pay for transactions on the Ontology blockchain. The Ontology blockchain is a decentralized platform that allows businesses to create their own blockchain solutions. ONG is used to pay for transaction fees, smart contract deployment, and other services on the Ontology blockchain. The supply of ONG is fixed at 1 billion tokens, with no additional tokens being created. This means that the value of ONG is determined by market demand and supply. ONG is an important part of the Ontology ecosystem, as it incentivizes users to participate in the network. By using ONG to pay for transactions, users are rewarded with ONG tokens. This creates a self-sustaining ecosystem where users are incentivized to use the network and contribute to its growth. ONG is also used to pay for governance on the Ontology blockchain. This means that users who hold ONG tokens have a say in the direction of the network and can vote on important decisions. Overall, ONG is an important cryptocurrency that plays a vital role in the Ontology ecosystem. |