What is ONT?
ONT is the native utility and governance token of the Ontology protocol which is owned and managed by OnChain, the same company that owns the NEO protocol. The project started on the NEO blockchain with a series of airdrops and distributions to the community before eventually transitioning to having its own mainnet. The project is focused around two key ideas, digital identity and data. ONT ID is the name of the digital identity product which allows you to store a digital identity token on your phone or trusted cloud store with a private key protection. This means you can privately and securely share your personal information with another third party who also uses ONT ID. A real world example of this value proposition is when you need to supply your drivers licence for proof of identity, ONT ID would validate your identity for you. By removing the friction of needing to upload sensitive documents, the identity is also secured cryptographically instead of simply on a database. By staking ONT tokens on the network, holders of the governance token will earn ONG (ONT GAS) which is a separate token on the ONT network.