Ontology (ONT) has taken a nice step up over the last seven days. The Singapore-based coin, which is a public multi-blockchain project, was trading close to $1.60 and now is steadily above the $2.00 mark. The company’s volume has since leveled off from a spike late last week, but there is positive momentum for this coin as the company’s main net launched at the end of last month.
In a rising trend of multiple main net launches, Ontology announced a live event revolving around the official release of their own main net, and the crowd was substantial. Adoption as well as the interest of institutional investors always is worth noting as adding more value to the ONT.
Another reason to make it a more desirable investment option is increased security. Ontology announced that they have arranged for NCC Group, an assurance firm headquartered in the United Kingdom, to review their codebase for vulnerabilities. NCC Group will focus on attempting to find problems relating to cryptography in the code. According to their medium post, NCC Group is an “expert in cyber security and risk mitigation, working with businesses to protect their brand, value and reputation against the ever-evolving landscape”. They are known as a leading provider of cryptographic security and design assessments with their dedicated Cryptography Services Practice. Ontology has thus collaborated with NCC Group for the 0.8 and 0.9 release of their code and expects future cooperation as well.
“Ontology’s focus on security is a great example of companies seeing the need for prioritizing security in their product development. We look forward to working with Ontology on multiple cryptography-focused projects”.
The collaboration with NGC might have been a catalyst for the deal with movie platform Spuul, that boasts over 60 million users and over 10.000 hours of Bollywood movies for streaming. The main objective behind their agreement is to provide the support with Ontology Coin infrastructure for the newly announced application, Spokkz.
Although this partnership does not place a focus on ONT as a cryptocurrency, partnerships, especially those carrying the multi-million audience, adds some value to the blockchain project.
With this partnership, Ontology Coin has found an applicable use case of its technology within the content industry, while the announced application Spokkz is said to accept Ontology Coin identity framework.
The implementation of Ontology Coin infrastructure should assure that Spokkz token and Spokkz application can respond to the given purpose of providing users with an easy way to connect with media producers, that way decentralizing the content industry.