Blockchain Network Ontology, Alchemy Pay to integrate the on-ramp

Ontologya blockchain network focused on strengthening trust, privacy and security in the Web3 by providing decentralized identity and data solutions, has formed a partnership with Alchemy Pay to integrate the exit and entry solution.

Through Alchemy Pay’s plugin, dApps and platforms on Ontology can “seamlessly and quickly integrate, allowing users worldwide to buy and sell cryptocurrency directly using their preferred local fiat payment methods.”

Additionally, both Ontology ($ONT) and Ontology Gas ($ONG) tokens “have already been included in Alchemy Pay’s ramp, enabling users to acquire them directly using fiat payments.”

These tokens play “a critical role in supporting Ontology’s scalability and facilitating fast, high-volume and cost-effective transactions.”

Alchemy Pay’s payment gateway “supports Visa and MasterCard payments in 173 countries, as well as Apple Pay, Google Pay, various domestic transfers and popular mobile wallets in emerging markets.”

With its robust support for more than 300 local payment channels, the gateway ensures high conversion rates, low fees and quick and easy KYC procedures.

This makes buying and selling cryptocurrencies “with domestic currency as easy as any other regular online payment.”

The ramp solution can be implemented “across different platforms, including DeFi protocols, CEXs, NFT marketplaces and wallets.”

Leveraging its extensive expertise “in decentralized identity and data solutions, Ontology drives the success of essential solutions, projects and organizations in the Web3 infrastructure using its high-performance public blockchain.”

The Ontology consensus mechanism “ensures fast transaction confirmation within one second and handles an impressive volume of over 5,000 transactions per second.”

Ontology MainNet “guarantees exceptional reliability and consistency for the 300+ dApps currently supported on the public blockchain.”

Through this partnership, the integration of Alchemy Pay’s ramp into Ontology’s ecosystem will significantly “enhance its functionality, attract a larger user base worldwide and further strengthen the ecosystem.”

As noted in the update, the Ontology blockchain is “a high-speed, low-cost public blockchain that brings decentralized identity and data solutions to the Web3.”

To increase privacy, transparency and trust, Ontology is designed “to give users and businesses the flexibility to build blockchain-based solutions that fit their needs.”

Through Ontology’s Ethereum Virtual Machine (EVM), developers can “easily migrate across other EVM-based ecosystems including Ethereum, BNB Chain, and Polygon, and seamlessly construct applications while leveraging Ontology’s low gas fees, rapid block production, and decentralized identity and data toolset.”