What is ONG: Understanding the Ontology Gas Token in Blockchain Technology

OntologyGas's Positioning and Significance

In 2018, the Ontology team introduced OntologyGas (ONG) as a utility token for the Ontology network. ONG aims to address the need for a sustainable and efficient blockchain ecosystem by serving as the gas token for the Ontology platform.

As the utility token of the Ontology network, ONG plays a crucial role in the blockchain infrastructure and distributed trust collaboration sectors. It represents the right to use the Ontology network and compensates various nodes for their contributions to network stability and security.

As of 2025, ONG has become an integral part of the Ontology ecosystem, with 1,608,682 holders and active development community. This article will delve into its technical architecture, market performance, and future potential.

Origin and Development History

Birth Background

OntologyGas (ONG) was created by the Ontology team in 2018 to solve the challenges of building a sustainable and efficient blockchain ecosystem. It was born during the blockchain technology boom, aiming to provide a mechanism for network resource allocation and incentivization.

ONG's introduction brought new possibilities for blockchain infrastructure and trust collaboration platforms.

Important Milestones

• 2018: Mainnet launch, implementing a dual-token model with ONT and ONG.
• 2018: Price reached an all-time high of $4.39 on September 28.
• 2020: Experienced its all-time low of $0.04242318 on March 13, during the global market downturn.
• 2025: Holder count reaches over 1.6 million, indicating growing adoption and community support.

With the support of the Ontology Foundation and community, ONG continues to optimize its utility and real-world applications within the Ontology ecosystem.

How Does OntologyGas Work?

Decentralized Control

ONG operates on a decentralized network of computers (nodes) spread across the globe, free from the control of any single entity. These nodes collaborate to validate transactions, ensuring system transparency and attack resistance, thus empowering users with greater autonomy and enhancing network resilience.

Blockchain Core

ONG's blockchain is a public, immutable digital ledger that records every transaction. Transactions are grouped into blocks and linked through cryptographic hashes, forming a secure chain. Anyone can view the records, establishing trust without intermediaries.

Ensuring Fairness

ONG utilizes a consensus mechanism to validate transactions and prevent fraudulent activities such as double-spending. Network participants maintain network security through activities like running nodes and are rewarded with ONG. Its innovative features include supporting the high-performance Ontology blockchain.

Secure Transactions

ONG uses public-key cryptography to secure transactions:

• Private keys (like secret passwords) are used to sign transactions
• Public keys (like account numbers) are used to verify ownership

This mechanism ensures fund security while keeping transactions pseudonymous. Additional security features may be implemented as the Ontology ecosystem evolves.

ONG Market Performance

Circulation Overview

As of September 29, 2025, ONG's circulating supply is 426,189,476.8508448 tokens, with a total supply of 1,000,000,000 tokens.

Price Fluctuations

ONG reached its all-time high of $4.39 on September 28, 2018.

Its lowest price was $0.04242318, occurring on March 13, 2020.

These fluctuations reflect market sentiment, adoption trends, and external factors.

Click to view the current ONG market price

On-chain Metrics

• Daily Transaction Volume: $16,548.3870995 (indicating network activity)
• Active Addresses: 1,608,682 (reflecting user engagement)

ONG Ecosystem Applications and Partnerships

Core Use Cases

ONG's ecosystem supports various applications:

• Decentralized Identity: Ontology's distributed identity framework, providing secure and verifiable digital identities.
• Data Exchange: Distributed data exchange protocols, enabling secure and efficient data sharing.

Strategic Collaborations

ONG has established partnerships with various blockchain projects and enterprises, enhancing its technological capabilities and market influence. These partnerships provide a solid foundation for ONG's ecosystem expansion.

Controversies and Challenges

ONG faces the following challenges:

• Market Volatility: Significant price fluctuations affecting investor confidence.
• Regulatory Uncertainty: Potential regulatory changes in different jurisdictions.
• Competitive Pressure: The rise of other blockchain platforms with similar functionalities.

These issues have sparked discussions within the community and market, driving continuous innovation for ONG.

ONG Community and Social Media Atmosphere

Fan Enthusiasm

ONG's community is vibrant, with 1,608,682 holders as of September 29, 2025. On X platform, related posts and hashtags (like #ONG) often trend, reflecting community engagement. Price movements and ecosystem developments ignite community enthusiasm.

Social Media Sentiment

Sentiment on X shows a mix of opinions:

• Supporters praise ONG's role in the Ontology ecosystem and its utility for network operations.
• Critics focus on price volatility and market performance concerns.

Recent trends indicate varied sentiment based on market conditions and project developments.

Hot Topics

X users actively discuss ONG's role in network governance, utility in the Ontology ecosystem, and market performance, showcasing both its potential and the challenges it faces in mainstream adoption.

More Information Sources for ONG

• Official Website: Visit Ontology's official website for features, use cases, and latest updates.
• X Updates: On X platform, Ontology uses @OntologyNetwork, with posts covering technical upgrades, community events, and partnership news.

ONG Future Roadmap

• Ecosystem Goals: Support the growth of the Ontology network and expand use cases.
• Long-term Vision: Become a key player in decentralized identity and data exchange solutions.

How to Participate in ONG?

1. Purchase Channels: Buy ONG on Gate.com
2. Storage Solutions: Use secure wallets recommended by the Ontology team
3. Participate in Governance: Engage in community decisions through Ontology's governance mechanisms
4. Build on the Ecosystem: Visit Ontology's developer documentation to contribute or build applications

Summary

ONG plays a crucial role in the Ontology ecosystem, providing utility for network operations and governance. Its active community, rich resources, and integration with Ontology's broader vision set it apart in the cryptocurrency space. Despite facing market volatility and competitive challenges, ONG's integral role in Ontology's innovative platform positions it as a noteworthy player in decentralized technology's future. Whether you're a newcomer or an experienced participant, ONG and the Ontology ecosystem are worth watching and engaging with.

FAQ

What does ong stand for?

ONG stands for Ontology Gas, the utility token of the Ontology blockchain network. It's used for transaction fees and network resource allocation.

What is ong in gen z slang?

In Gen Z slang, 'ong' means 'On God,' used to express strong agreement or emphasize truthfulness, similar to saying 'I swear to God.'

What is ong in medical terms?

ONG in medical terms stands for Optic Nerve Glioma, a brain tumor affecting the optic nerve. It's often linked to neurofibromatosis type 1.

Is ong used in text messages?

Yes, 'ONG' is used in text messages as slang to emphasize agreement or indicate something is beyond one's control.