Newly Launched Blockchain Project Ontology Rolls Out Wallet Supporting ONT, ONG

The new OWallet supports Ontology’s tokens ONT and ONG and has three types: individual, shared and ledger

by Nina Dimitrova
10 August • 2 min
In News

Ontology, the public blockchain project that went live recently, announced the launch of the official wallet OWallet that supports the project’s two tokens: ONT and ONG.

According to Ontology’s publication on Medium, the OWallet is a desktop application for computers running Windows and iOS. There is no information on a forthcoming development or release of a Linux version or a mobile application.

OWallet has three versions: individual wallet, shared wallet and a hardware ledger wallet.

The first type of OWallet is a fairly basic wallet that requires only one signature to sign transactions and some simple functionalities. Users can view their ONT/ONG asset balance and the equivalent in USD, their transactions, claim ONGs, send and receive assets on the Ontology MainNet. Those with an individual wallet will also be able to create a new wallet, import an individual wallet with all its security features and export a wallet.

The shared wallet, as the name suggests, gives access to the funds to more than one party. For safety, it requires multiple signatures to approve the transaction. The shared wallet supports access of two to 12 people, with their corresponding keys. The users can set their own rules for signing the transactions. For example, a shared wallet with three users can require two signatures for a transaction. Otherwise, the shared wallet supports the same functionalities as the individual wallet, plus the sharing rules and information about pending transactions, requiring actions from the other users.

The ledger wallet requires that users import the Ontology ledger, in order to use the additional functionalities supported by it. Those who install the ledger wallet, can manage their MainNet ONT more securely, switch between MainNet and TestNet as well as between Chinese and English and choose a location to save their keystore. It also supports the functionalities of the other wallets.

Ontology is a Chinese decentralized public blockchain project that strives to provide fast high-volume transactions. It went live on June 30.