OntologyNetwork
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OntologyNetwork

Ontology Weekly Report (August 11–17, 2021)

Highlights

Both the EVM and Ethereum account systems have been launched on the Ontology TestNet. Following ONT’s listing on the Japanese regulated exchange, Decurret, last month, ONT was listed on a second Japanese regulated exchange, Huobi Japan.

Latest Developments

Development Progress

  • We have completed the development and the TestNet launch of Ontology’s EVM, which will allow for the easy deployment of Ethereum smart contracts on Ontology. We are 10% done with testing.
  • We have completed Ethereum RPC support and we are 100% done with internal testing. The TestNet has been synchronized online; we are 5% done with testing.
  • We have completed 100% of Ontology’s new Ethereum account system; the TestNet has been synchronized online and we are 8% done with testing.
  • We have completed 100% of the transaction optimization flow logic from the network layer to the transaction pool and the TestNet has been synchronized online. This will significantly improve the transaction pool processing performance.
  • The EVM/OEP-4 asset seamless transfer technical solution, which facilitates the conversion between OEP-4 assets and EVM assets, is complete and the TestNet has been synchronized online; we are 5% done with testing.
  • We have completed 10% of the tutorial documents on the development of EVM contracts on the Ontology chain.

Product Development

  • ONTO launched a campaign with Argon, a freelance platform on Binance Smart Chain. Users who accessed Argon via ONTO were entered into a lottery to win ARGON. Over 400 users participated and 64 lucky winners received rewards.
  • ONTO launched a campaign with ForTube Lending, a decentralized cryptocurrency bank powered by the FOR token on Binance Smart Chain. From August 12th to 19th, users who use ForTube via ONTO can win rewards. At present, more than 500 global users have participated.
  • ONTO hosted an AMA with MacaronSwap, a decentralized exchange and farming platform on Binance Smart Chain. The event attracted more than 3500 participants who submitted over 1,000 Twitter comments.

On-Chain Activity

  • 119 total dApps on MainNet.
  • 6,661,937 total dApp-related transactions on MainNet, an increase of 3,255 from last week.
  • 16,169,214 total transactions on MainNet, an increase of 59,253 from last week.

Community Growth

  • Ontology published another interview in its Harbinger interview series. This time, we spoke with Dilip from our Sri Lankan community who shared his experiences as a Harbinger, describing Ontology as “Unique, Authoritative, and Trustworthy”. He looks forward to more exciting developments within the community.
  • We held our weekly Community Call on Discord, led by Humpty Calderon, our Head of Community, to discuss Web 3.0, NFTs and digital copyright protection.
  • We held our weekly DeID Summit in which we spoke about decentralized autonomous organizations, referred to as DAOs. We introduced the DAO model and described how DAOs enable users all over the world to interact freely based on consistent interests, incentives, and economic structures. Decentralized identity (DID) solutions will play an important role.
  • As always, we’re active on Twitter and Telegram where you can keep up with our latest developments and community updates.

Global news

  • Ontology has accelerated its growth operations in the Japanese market following a string of new announcements including ONT’s listings on Japanese regulated exchanges, Decurret and Huobi Japan, which will help expand business opportunities, implement more industry solutions, accelerate the development of a trusted ecosystem, and bring about substantial growth in local communities.
  • Li Jun, Founder of Ontology, took part in an exclusive video interview with CryptoCoinShow to introduce the recent development of Ontology’s EVM and how Ontology’s decentralized identity and data management technology can play a central role in the Web 3.0 era by fostering interoperability within the blockchain ecosystem.
  • Ontology’s Americas Ecosystem Lead, Erick Pinos, was invited to participate in Reimagine’s “Tenth Anniversary Edition” event hosted by MouseBelt, an ecosystem building the future of blockchain innovation and education.
  • Ontology published a Medium article about Web 3.0 that explored what defines Web 3.0 and Ontology’s relationship to the coming Web 3.0 era. The article stated that “We are currently in a transition phase between Web 2 and Web 3. The Web 3 era promises a world in which we are no longer at the mercy of centralized platforms.”

Ontology in the Media

The Paypers — The ‘taste’ of a global digital identity framework — interoperable, decentralised, secure

More than a buzzword, digital identity promises to unlock many benefits for consumers and businesses alike in many sectors: healthcare, legal, government, financial. But lack of interoperability and data privacy issues hinder the adoption of these technologies. Moreover, the need to find new ways to identify consumers remotely (ways that are secure and inclusive) and the fact that more and more fintech and online platforms have begun replacing banks means that the need for global development of a digital identity infrastructure is expected to grow.

Ontology is committed to enabling users to have digital identities and to achieve autonomous data management. At the same time, Ontology provides a comprehensive decentralized identity solution for enterprises, with its decentralized identity framework, ONT ID, at its core. It can quickly identify and connect people, money and real-world assets. It has the characteristics of decentralization, independent management, privacy protection, safety and ease of use. We look forward to contributing more to the development of global digital identity system infrastructure.

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!

Other Resources

LinkedIn / Medium / Facebook / Reddit / Discord / YouTube

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