To be able to predict an uptick in the ONT price chart, we need to look at how the currency is ending the year. In October 2019, Ontology released its WASM protocol alongside its mainnet adding the third function the blockchain. The V1.80 Ontology update increases the speed and functions of the blockchain, which renders ontology more attractive to companies looking to integrate blockchain in their work environment.
For the sake of this prediction, we will look at the value of ONT which is a coin that is used to stake for rewards as well as consensus on the blockchain. Whereas ONG is used for on-chain transactions, for example, deploying applications, smart contracts, etc.
WASM, also known as WebAssembly, is a binary instruction format supported by tech giants like Apple, Google, Microsoft, to name a few. WASM allows developers to work on the blockchain using different types of languages, like C, C++, and Rust. Having WASM integrated into Ontology allows developers to access a different type of architecture on a virtual machine in order to develop blockchain applications.
Below is a chart showing that wasm now allows developers to create applications via smart contracts in a variety of languages, not limited to the NEO format.
Another hopeful indicator is that since the Chinese government has announced its support of cryptocurrency projects, ONT being a Chinese company has seen an uptick in price, boding well for its future. What we need to look forward to continued growth in the ONT space is greater company use of the ONT blockchain, which will also lead to an uptick in the price of ONG.
Originally published at https://changenow.io on December 24, 2019.