The boom in the development of new coins since Bitcoin's creation led to the need to create reliable exchanges to facilitate trade. One of such is Binance, which is reputable for its low fees and support of using fiat to buy crypto. Although it has quite a few shortcomings, Binance has continued to stay in the game by steadily listing new coins on its service and instituting various pairs to improve its functionality. One of such pairs is the ONT/ETH pair which is about to be discussed.
ONT coin is the crypto that is used to facilitate transactions on the Ontology platform. Ontology allows for the creation of sidechains, as other blockchains can be created on its own, just like the Ethereum blockchain it was originally built upon. They also allow users' data to become tokens which can then be monitored on the blockchain. But most important is its primary goal which is to secure users' privacy and digital identity. In this case, it uses a proof of identity based on your documents provided to perform verification without you having to release your sensitive data.
Most crypto enthusiasts already know about Ethereum, it is the 2nd most valuable digital asset in the cryptoverse. ETH launched the ideal of a blockchain which can be used to develop smart contracts and create DApps. This pair was launched in 2019, and has celebrated success ever since. The success was so great hat in February 2020, Binance permitted ONT trade with the US Dollar and USD-backed crypto, USDT. ONT has been likened to ETH in Asian markets, so this is no surprise.
Anyone would make use of this pair because privacy is a much-needed feature in cryptocurrency dealings. The need to keep your private documents and data off the blockchain where it is readily accessible is important. Institutions wishing to expand their businesses in Asian markets as well as blockchain developers in Asia can make use of this pair to connect to the continent and vice-versa. The pair is performing well and is well-used on the platform, and the future is bright for ONT/ETH.
ONT coin will do well in the future