Ontology ONT to PAX Gold PAXG Exchange

Crypto Pair Details: ONT to PAXG

Ontology ONT

Ontology is a new high-performance public blockchain project & a distributed trust collaboration platform.It provides new high-performance public blockchains that include a series of complete distributed ledgers and smart contract systems. Ontology is a blockchain framework supports public blockchain systems and is able to customize different public blockchains for different applications. It also supports collaboration amongst chain networks with its various protocol groups.They will constantly provide common modules on the underlying infrastructure for different kinds of distributed scenarios, such as those for the distributed digital identity framework, distributed data exchange protocol, and so on. Ontology was created in 2017 by a Chinese company called OnChain, which is led by founders Erik Zhang and Da HongFei. OnChain has had huge success in the cryptocurrency industry, as they were also the founders behind the NEO blockchain, which is now a multi-billion dollar project. Essentially, Ontology was created as a way for businesses of all sizes to install blockchain technology within their company, without having to completely change all of their current systems. The purpose of the Ontology framework is that it is not intended to operate as a single blockchain. Instead, the technology will allow businesses to make full use of both a private and public blockchain. Each and every data transaction is confirmed in a decentralized environment, meaning that no single person or authority can take control of the network.

PAX Gold PAXG

PAX Gold (PAXG) is an asset-backed token where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities. Anyone who owns PAXG has ownership rights to that gold under the custody of Paxos Trust Company. Since PAXG represents physical gold, its value is tied directly to the real-time market value of that physical gold. PAXG gives customers the benefits of actual physical ownership of specific gold bars with the speed and mobility of a digital asset. Customers are able to have fractional ownership of physical bars. On the Paxos platform, customers can convert their tokens to allocated gold, unallocated gold, or fiat currency (and vice versa) quickly and efficiently, reducing their exposure to settlement risk. PAXG is also available for trading on Paxos’ itBit exchange. PAXG will also be available on other crypto-asset exchanges, wallets, lending platforms and elsewhere within the crypto ecosystem. At any time, PAXG holders can lookup the serial number, value and physical characteristics of their vaulted gold just by entering their Ethereum wallet address on the PAXG lookup tool on Paxos.com/paxgold.

SOURCE: COINGECKO

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