{"id":3827,"date":"2018-01-28T03:46:49","date_gmt":"2018-01-28T03:46:49","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=3827"},"modified":"2018-01-29T13:01:16","modified_gmt":"2018-01-29T13:01:16","slug":"ontology-network-free-ico-passive-gas-income","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/ontology-network-free-ico-passive-gas-income\/","title":{"rendered":"Ontology Network, A Free ICO With Passive Gas Income"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/01\/ontology-network.jpg\" alt=\"ONTology Network\" width=\"300\" class=\"alignright size-full wp-image-3868\" \/>The early backers of <a href=\"https:\/\/neo.org\/\">NEO (NEO)<\/a> project are earning passive income in the form of NEO-GAS, from their NEO token holdings. The founders of NEO, DaHongFei and Erik Zhang, established a company named <strong>OnChain<\/strong>, which has launched Ontology Network on November 27, 2017. <a href=\"http:\/\/www.onchain.com\/en-us\/\">OnChain<\/a> is a collaboration between Chinese businesses and government. It was created that way to avoid regulatory hurdles to the products that would be released in the future.<\/p>\n<p>The <a href=\"https:\/\/ont.io\/\">Ontology Network<\/a> aims to create a simple and reliable method to verify identity and financial records, using block chain as a trust machine. The developers will provide the open source network free of cost to their industry partners. Therefore, the system will act as a combination of a traditional centralized system with newer block chain technology. Both systems will be linked through <a href=\"https:\/\/www.coinbureau.com\/education\/what-are-blockchain-oracles\/\">block chain oracles<\/a>.<\/p>\n<p>As the tamper proof information would be readily available, financial institutions will be more confident in dealing with the clients from the outset. Likewise, clients need not bother about a false report due to the veracity of the documents. The developers will be releasing the road map by the end of first-quarter of 2018. Additionally, OnChain will also release the testnet with a bug bounty program.<\/p>\n<p>There will be no pre-sale, ICO, etc., for the project. Instead, <strong>Ontology (ONT)<\/strong> tokens will be released through a number of reward events. Thus, it can be construed as an \u2018airdrop\u2019 to those who have signed up with their email address. Soon after the Mainnet is launched later this year, the tokens will be released.<\/p>\n<p>Similar to NEO ecosystem, which offers GAS as rewards to stakeholders, there will be a voting model in place for the Ontology Network as well. The holders of the ONT tokens will have a say on the decisions taken in the Ontology ecosystem. A total of one billion ONT tokens will be created on the genesis block. Interestingly, similar to NEO, the ONT tokens will not be divisible. The network will also use <strong>Ontology Gas (ONG)<\/strong> to pay for transactions and computations. It would be paid as interest to the ONT holders over a period of 22 years. <\/p>\n<p>To facilitate transactions and interest payments, the ONG tokens will be divided by up to one billion parts. There won\u2019t be any kind of sale of these tokens. So, investors should make sure that they deal with the company directly by <a href=\"https:\/\/ont.io\/#\/joinus\">joining the community<\/a>. The developers would regularly provide updates to those who have signed up to their mailing list. Updates will also be provided on social media platforms. Therefore, it is a project to watch.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The early backers of NEO (NEO) project are earning passive income in the form of NEO-GAS, from their NEO token holdings. The founders of NEO, DaHongFei and Erik Zhang, established a company named OnChain, which has launched Ontology Network on November 27, 2017. OnChain is a collaboration between Chinese businesses and government. It was created [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68],"tags":[],"class_list":["post-3827","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ontology Network, A Free ICO With Passive Gas Income<\/title>\n<meta name=\"description\" content=\"Ontology Network aims to create a simple and reliable method to verify identity and financial records, using block chain as a trust machine. Ontology (ONT) tokens will be released through a number of reward events. Ontology Gas (ONG) would be paid as interest to the ONT holders over a period of 22 years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/ontology-network-free-ico-passive-gas-income\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ontology Network, A Free ICO With Passive Gas Income\" \/>\n<meta property=\"og:description\" content=\"Ontology Network aims to create a simple and reliable method to verify identity and financial records, using block chain as a trust machine. Ontology (ONT) tokens will be released through a number of reward events. Ontology Gas (ONG) would be paid as interest to the ONT holders over a period of 22 years.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/ontology-network-free-ico-passive-gas-income\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-28T03:46:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-01-29T13:01:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/01\/ontology-network.jpg\" \/>\n<meta name=\"author\" content=\"Cameron Bishop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cameron Bishop\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ontology-network-free-ico-passive-gas-income\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ontology-network-free-ico-passive-gas-income\\\/\"},\"author\":{\"name\":\"Cameron Bishop\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"headline\":\"Ontology Network, A Free ICO With Passive Gas Income\",\"datePublished\":\"2018-01-28T03:46:49+00:00\",\"dateModified\":\"2018-01-29T13:01:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ontology-network-free-ico-passive-gas-income\\\/\"},\"wordCount\":438,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ontology-network-free-ico-passive-gas-income\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/01\\\/ontology-network.jpg\",\"articleSection\":[\"Cryptocurrency\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ontology-network-free-ico-passive-gas-income\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ontology-network-free-ico-passive-gas-income\\\/\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ontology-network-free-ico-passive-gas-income\\\/\",\"name\":\"Ontology Network, A Free ICO With Passive Gas Income\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ontology-network-free-ico-passive-gas-income\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ontology-network-free-ico-passive-gas-income\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/01\\\/ontology-network.jpg\",\"datePublished\":\"2018-01-28T03:46:49+00:00\",\"dateModified\":\"2018-01-29T13:01:16+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"description\":\"Ontology Network aims to create a simple and reliable method to verify identity and financial records, using block chain as a trust machine. 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Ontology Gas (ONG) would be paid as interest to the ONT holders over a period of 22 years.","og_url":"https:\/\/www.legitgambling.com\/news\/ontology-network-free-ico-passive-gas-income\/","article_published_time":"2018-01-28T03:46:49+00:00","article_modified_time":"2018-01-29T13:01:16+00:00","og_image":[{"url":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/01\/ontology-network.jpg","type":"","width":"","height":""}],"author":"Cameron Bishop","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Cameron Bishop","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.legitgambling.com\/news\/ontology-network-free-ico-passive-gas-income\/#article","isPartOf":{"@id":"https:\/\/www.legitgambling.com\/news\/ontology-network-free-ico-passive-gas-income\/"},"author":{"name":"Cameron Bishop","@id":"https:\/\/www.legitgambling.com\/news\/#\/schema\/person\/0e2e077765174748afc2362c890e3f91"},"headline":"Ontology Network, A Free ICO With Passive Gas Income","datePublished":"2018-01-28T03:46:49+00:00","dateModified":"2018-01-29T13:01:16+00:00","mainEntityOfPage":{"@id":"https:\/\/www.legitgambling.com\/news\/ontology-network-free-ico-passive-gas-income\/"},"wordCount":438,"commentCount":0,"image":{"@id":"https:\/\/www.legitgambling.com\/news\/ontology-network-free-ico-passive-gas-income\/#primaryimage"},"thumbnailUrl":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/01\/ontology-network.jpg","articleSection":["Cryptocurrency"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.legitgambling.com\/news\/ontology-network-free-ico-passive-gas-income\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.legitgambling.com\/news\/ontology-network-free-ico-passive-gas-income\/","url":"https:\/\/www.legitgambling.com\/news\/ontology-network-free-ico-passive-gas-income\/","name":"Ontology Network, A Free ICO With Passive Gas Income","isPartOf":{"@id":"https:\/\/www.legitgambling.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.legitgambling.com\/news\/ontology-network-free-ico-passive-gas-income\/#primaryimage"},"image":{"@id":"https:\/\/www.legitgambling.com\/news\/ontology-network-free-ico-passive-gas-income\/#primaryimage"},"thumbnailUrl":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/01\/ontology-network.jpg","datePublished":"2018-01-28T03:46:49+00:00","dateModified":"2018-01-29T13:01:16+00:00","author":{"@id":"https:\/\/www.legitgambling.com\/news\/#\/schema\/person\/0e2e077765174748afc2362c890e3f91"},"description":"Ontology Network aims to create a simple and reliable method to verify identity and financial records, using block chain as a trust machine. 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