Amazon/Microsoft Add Ontology to Software Lineup; ONT Price Down 30% Since Xmas Eve

Ontology’s blockchain development product, the ONT_Dev_Platform, has been added to Microsoft Azure and Amazon AWS Marketplaces. The service allows users to build and test DApps and smart contracts and is now available on the software stores of the two internet giants.

The development kit is also expected to land on Google’s own software shelves in January of 2019 – enough time for the ONT coin valuation to catch up the pace.

ONT fell 30% against the dollar in the two days or so since Christmas eve, despite rising trade volume. The fall continued over the last twenty-four hours, as ONT failed to react to the Microsoft/Amazon news, and sunk a further 12% in value.

Microsoft, Amazon & Ontology

Accompanying the announcement on the official Medium blog of the Ontology team is a description of ONT_Dev_Platform. It states:

“ONT_Dev_Platform is an Ontology blockchain dApp product built on a cloud service, which includes the Ontology stand-alone test environment, SmartX, and Block Explorer. It is available to users worldwide for free to deploy in just one click.”

The development platform includes three main features – Ontology Test Mode, a stand-alone DApp testing environment. SmartX – a one-stop smart contract creator suite. And an Ontology Block Explorer.

The ‘free to deploy’ part of the above quotation doesn’t factor in payment for use of Amazon or Microsoft’s online virtual tools. Amazon’s pricing currently ranges from $9 to $3,000 per month depending on RAM space, core count, etc.

Ontology Price – ONT/USD

Ontology’s value fell exactly 11.97% leading into Thursday morning, as the coin price fell from $0.663091 down to $0.583668. ONT’s decline was way out of the line with the rest of the market, the majority of which fluctuated by one or two percent while remaining generally stable.

The decline had been in ever since the short market surge on December 24th when ONT climbed to 14% growth in the space of a day. The subsequent reversal swiped 30% off Ontology’s price, sending the coin tumbling from $0.834206 down to Thursday morning’s $0.58 range.

ONT had been surging all throughout the second half of December, hitting +30% growth on December 18th. Passive income opportunities through the staking of ONT coins are still relevant even here in the depths of the bear market, as detailed recently on Hacked.

Ontology is a product of the NEO blockchain ecosystem, and has proved to be one of the most successful of 2018’s token launches. Both NEO and Ontology are now competing to be the ‘Ethereum Killer’ – the project which dethrones Ethereum as the DApp king.

With today’s surge, Ontology’s market cap has risen to just over one third that of its NEO parent chain. ONT was also recently ranked joint-fourth with Komodo (KMD) on the China Center for Information and Industry Development’s blockchain rankings list – five places ahead of NEO.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

 

Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.