Ontology MainNet

6th Anniversary Celebrations

Ontology Network, launched in June 2018, has evolved from a blockchain platform focused on digital identity and data solutions to a comprehensive Web3 infrastructure. Over the past six years, Ontology has achieved significant milestones, including the launch of its MainNet, integration of layer-2 technology, and the introduction of an Ethereum Virtual Machine, while expanding its ecosystem through strategic partnerships and community growth. Let’s take a journey through some of the key highlights of Ontology’s evolution.

MainNet and TestNet Launches

The Ontology MainNet has undergone several significant changes and upgrades since its inception:

· 2018: Ontology MainNet version 1.0 officially launched, marking the beginning of Ontology’s independent blockchain. This launch included the implementation of a unique dual-token system consisting of ONT and ONG, as well as tools to support developers in building dApps and smart contracts.

· 2019: Ontology introduced sharding technology and launched its cross-chain TestNet, enhancing the network’s scalability and interoperability.

· 2020: Ontology MainNet 2.0 was released, integrating layer-2 technology to improve transaction speed and efficiency.

· 2021: The Ontology Ethereum Virtual Machine (EVM) test network was launched. This significant update allowed Ontology to support four types of smart contracts — Native, NeoVM, WasmVM, and EVM — making it one of the most versatile public-chain platforms in terms of development languages and virtual machines supported.

· 2022: The project’s commitment to expansion is further evidenced by its $10 million EVM fund, aimed at supporting global developers and fostering growth within the Ontology ecosystem.

· 2023: Ontology introduced liquid staking, represented by the stONT token. This significant update allows ONT token holders to maintain liquidity while participating in network consensus. The stONT token accumulates rewards by growing in value relative to ONG, providing users with more flexibility in managing their staked assets.

The consistent updates demonstrate Ontology’s commitment to regular and substantial improvements to its network infrastructure. These launches have progressively enhanced Ontology’s capabilities, from basic blockchain functionality to advanced features like sharding, cross-chain compatibility, and EVM integration.

In terms of staking, Ontology implements a proof-of-stake consensus mechanism. The network has gained popularity among node operators of various sizes and maintains an active staking community. Stakers can earn ONG as rewards for participating in network consensus and governance.

Slash Mechanism for Consensus Nodes

To further enhance the security and stability of the blockchain, Ontology is introducing a Slash mechanism for Consensus Nodes. This new feature ensures that the network operates in a safer and more stable manner by penalizing nodes that act maliciously or fail to perform their duties properly. This addition strengthens Ontology’s commitment to maintaining a robust and reliable blockchain infrastructure.

TestNet Faucet: Empowering Developers

As part of our continuous effort to support developers, Bwarelabs now provides faucets for ONT and ONG test tokens on Ontology and Ontology EVM. This initiative aims to lower the barriers for developers, making it easier to test and deploy their applications on the Ontology MainNet. By offering easy access to test tokens, we hope to foster innovation and growth within our developer community.

Developer Relations: Breaking Barriers

In collaboration with StackUp, Ontology is launched a campaign focused on removing barriers for the developer community. This initiative aims to provide comprehensive support and resources, ensuring that developers have everything they need to succeed in building on the Ontology MainNet. Together, we are committed to creating an inclusive and supportive environment that empowers developers to innovate and thrive.

Sneak Preview of Our Giveaway Campaigns

To celebrate our 6th anniversary, we’re excited to announce some amazing giveaway campaigns!

Stake2Earn — Giveaway to Ontology Stakers: Win a share of 3000 ONG! Simply stake your ONT to participate and stand a chance to earn ONG rewards.

Win a Stake — Grow Your Node with Ontology: Get a boost for your node with 260,000 ONT to be staked. This is a fantastic opportunity for node operators to increase their stakes and contribute to the network’s security.

Anniversary Celebration: Win a share of 200 ONG in our special anniversary giveaway. Join the celebration and earn ONG rewards as we mark this milestone together.

Celebrating Our Community

As we celebrate our 6th anniversary, we want to extend our heartfelt gratitude to our incredible community. Your support and engagement have been instrumental in our journey. Here’s to many more years of innovation, growth, and success together!

Stay tuned for more exciting updates and participate in our giveaway campaigns to celebrate this special occasion with us!