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Cryptocurrency Exchange

Huobi Wallet Will Support Ontology Dual Tokens ONT And ONG, Support For ONT dApps Also Expected

Recently, the crypto space has been active more than ever, with crypto exchanges and wallets listing newer coins on their platforms. Though some experts believe that bears may return sooner than expected, the markets remain unmoved in terms of taking big steps forward.

Huobi is one such exchange which is taking giant strides forward, bringing more and more digital tokens on board. Recently, Dogecoin, one of the most favorite amongst technology leaders like Elon Musk, was listed on Huobi Exchange, after which the two collaborated for raising funds for Grateful Dog Rescue.

The exchange also has a crypto wallet which facilitates quick transfers of digital tokens across platforms. On Tuesday, Huobi Wallet announced that it will soon start support for Ontology’s two native tokens ONT and ONG, and will also support ONT based dApps.

The crypto space has been witnessing a steep rise in wallet services being offered by established players. The main reason for this could be the increase in adoption of cryptocurrencies worldwide, which has forced companies to offer innovative solutions. Major payment wallet, PayPal has also started to invest in blockchain technology and crypto assets, which shows the growing demand for digital tokens.

Huobi Wallet is a multi-chain wallet, which guarantees digital asset security of users around the globe. It also provides simple, convenient and secures Digital Asset Management (DAM). The wallet allows users to add their favorite altcoins, apart from the major cryptocurrencies like BTC, ETH, EOS, TRX, USDT, etc. The wallet provides options for a quick exchange, which supports the exchange of different coins across different chains.

The wallet does not involve any third parties in the management of private keys. It also allows users to export private keys and manage the security of their digital assets. The platform aims to provide common modules on the underlying blockchain technology, based on different kinds of distributed scenarios, including distributed digital identity framework, distributed data exchange, etc.

Ontology provides high-performance public blockchain solutions, including distributed ledger and smart contract systems. The blockchain platform supports public DLT systems, which are customizable for various applications. It also facilitates collaborations of different chain networks with its various protocol groups. The Ontology blockchain platform has two native currencies, ONT and ONG. While ONT is used for staking in consensus, ONG is a utility token used for on-chain services.

Cryptocurrencies are now being used for sale and purchase of services and making quick payments, particularly for international remittances. Also, digital tokens are expected to be brought under the mainstream usage in the e-commerce industry, which will revolutionize crypto markets completely.

Also, data exchange over the blockchain is also gaining significant traction, due to the security that DLT provides. This has made the sale of data a more secure affair, which was previously prone to cyber attacks and hacks. As the market moves further in this direction, demand for blockchain platforms like Ontology will also increase, and therefore, Huobi Wallet’s inclusion on ONT and ONG is an excellent strategic move.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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