Mr. Narendra Modi, The Prime Minister of India, expressed understanding of opportunities in the frontier technologies of 5G, Big Data analytics, Quantum Computing, Blockchain and Internet of Things.
Ontology tweeted: “Great to see @PMOIndia’s recognition of opportunities in #blockchain tech. As a blockchain for self-sovereign ID & #data, #Ontology provides solutions to a broad spectrum of use cases.”
Ontology which is a blockchain for self-sovereign ID and DATA are excited about the word on the prime minister’s acknowledgement about blockchain.
Ontology recently expressed that they have decided to build their decentralized identity protocol on Bitcoin, Ethereum, and EOS. Further stated that the development of all the related features as being about to be complete. When asked about any other Protocols you might want to see ONTID on, there were lot of replies.
One of the community members stated they will definitely be adding Binance Chain and Smart Chain.
Sydney Ifergan, the crypto expert tweeted: “Namaste! Good about Ontology (ONT) alerting on Modi-Ji the India Prime minister acknowledging Blockchain and IOT. The day will be the happiest when they acknowledge cryptocurrency in particular.”
There were criticisms too. One of the replies stated that User Wise Ontology can be very successful with TRON. An overstatement read like: Like for me, as a $TRX user, I ask myself? Does TRON even need ONTID. Further stated, then I think, why ask Twitter? If you analyzed the data, you would know which order you should be implementing. I am wary of the way you are approaching this. The reply from the TRON user to Ontology tweet sounded like “Like Father like Son – Like Justin Sun like Tronics.”
Ontology (ONT) Staking Economic Model
The July 15, 2020 through July 21 week report of Ontology spoke about how they are delighted to announce nearly $150 million USD worth of ONT being staked on Ontology. Further expressed that they also launched a new Ontology Node and Staking Yield Calculator for the community. It is now going to be easier than ever to count on the staking yield on the Ontology.
Ontology in the past week tweeted: “Last week, near $150 million USD worth of $ONT has been staked on #Ontology. In line with this exciting news, we also launched a new Ontology #Node & #Staking Yield Calculator, making it easier than ever for our community to count the staking yield. $ONG.”
Ontology network have unveiled new governances and staking rewards for users. We need to see how the new staking model will work when it goes all live.
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