Ontology Weekly Report (April 1st–6th, 2021)
Highlights
As we come to the end of the first week of April, we wrap up another successful week for Ontology. As our community continues to grow, Ontology’s decentralized identity solution continues to gauge the interest of respected voices in the industry.
Latest Developments
Development Progress
- We have completed 70% of the Ontology EVM-integrated design, which will make Ontology fully compatible with the Ethereum smart contract ecology after completion.
- We have completed 50% of the research on the latest progress of Layer 2 technology, exploring the integration of Ethereum Layer 2 on Ontology MainNet.
Product Development
- We have released v3.8.0, including optimization of the front-end interface
- The ONTO x OpenOcean event was successful and rewards will be issued soon.
dApps
- 113 dApps were launched in total on MainNet.
- 6,509,768 dApp transactions were completed on MainNet.
- 38,616 dApp-related transactions took place in the past week.
Community Growth
The Ontology community is growing at a rapid rate. This week we onboarded over 2,429 new members across Ontology’s global communities.
To keep up with our latest developments and community updates, please feel free to reach out to us on Telegram or follow us on Twitter. As always, we encourage anyone who is interested in Ontology to join us.
Global News
- In some global news this week, the Chinese and English version of the “Digital Securities Industry Development Report 2020” co-authored with Cabin VC, Binance China Blockchain Research Institute, Gibraltar Stock Exchange Group (GSX Group), Hong Kong Digital Asset Exchange (HKBitEX) and UPRETS was released.
- Ontology’s Head of Business & Strategy was invited to attend the “New Form of Encrypted Assets in Grayscale Mode” online seminar.
In the Media
The Block — Ontology, A Blockchain For Decentralized Identity And Data
Leading crypto publication The Block released a research report on decentralized identity, mentioning Ontology as a key part of the infrastructure. Ontology, Bitcoin, Ethereum, NEAR, Sovrin and more are listed in the blockchain infrastructure category, and the ONTO cross-chain wallet is in the wallet & verification service category. Read the full report here.
Block Tribune — Expert Takes: PayPal Launches Crypto Checkout Payments
Li Jun, Founder of Ontology:
“PayPal’s decision to allow U.S. consumers to use their cryptocurrency holdings to pay at millions of its online merchants is likely to encourage many to make their first crypto transaction — even if it’s just out of curiosity. While some may be apprehensive, once tried, it’s unlikely they will notice much difference between paying with crypto or legal tender. So, why not?
With PayPal making big moves into cryptocurrency, it is more important than ever to get experts to weigh in on issues around security, and how decentralized identities like ONT ID can help.”
Decentralized Credit Rating Is Integral To DeFi Adoption
For years now, lending and borrowing offers individuals a vast array of new opportunities in which credit scoring plays an integral role. This makes OScore a vital missing piece to the DeFi’s puzzle because, in order to offer these products, this vital data is required so that they can be assured the purchaser or borrower will be reliable and in a position to repay them.
By utilising decentralized credit scoring that ensures the safety and security of user data, we are in the unique space of getting the best of both worlds.
Want more Ontology?
You can find more details on our website for all of our decentralized solutions across identity and data, or keep up with us on Twitter. Our Telegram is for discussion, whereas the Telegram Announcement is designed for news and updates if you missed Twitter!
