OntologyNetwork
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OntologyNetwork

Ontology Weekly Report (August 3–10, 2021)

Highlights

Last week, ONTO Anydrop, our first decentralized airdrop distribution tool, was released. Additionally, ONTO released a new update bringing password-less payments that allow users to quickly transact using fingerprint or facial recognition.

Latest Developments

Development Progress

  • We have completed development of Ontology’s EVM, which will allow for the easy deployment of Ethereum smart contracts on Ontology. We are 80% done with testing.
  • We have completed Ethereum RPC support and we are 100% done with internal testing, handing over to the testing team for further testing.
  • We have completed 98% of Ontology’s new Ethereum account system.
  • We have completed 100% of the transaction optimization flow logic from the network layer to the transaction pool and we are 50% done with testing. 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 done and we are 50% done with testing.

Product Development

  • ONTO App v3.9.6 was released, adding password-less payments , where users can quickly complete transactions with fingerprint or facial recognition.
  • ONTO Anydrop, our first decentralized airdrop distribution tool, is live. Airdrop organizers can send assets to up to 100 addresses in 1 transaction. With fast speeds and cheap gas fees, participants can receive airdrops effortlessly. ONTO Anydrop supports Ethereum, Binance Smart Chain, Polygon, and OKExChain. It is also now listed on Polygon’s Dev Tooling!
  • Ontology launched campaigns with Wault Finance and Deri Protocol. Ontology also launched a campaign with Wing and KSwap. Every campaign received great participation from the community.
  • ONTO hosted AMAs with Bunicorn. Users participated enthusiastically, with 3,016 people tuned in at the peak..
  • ONTO distributed the rewards of our events with OpenOcean and ApeSwap.

On-Chain Activity

  • 119 total dApps on MainNet.
  • 6,658,682 total dApp-related transactions on MainNet, an increase of 11,527 from last week.
  • 16,109,961 total transactions on MainNet, an increase of 104,447 from last week.

Community Growth

  • The Harbinger Program v2 continues and we are excited for new Harbingers to join us! Ontology published the Harbinger interview series, with Emilio from our Spanish community and DuMonT from our Slovak community recalling their stories.

We held our weekly Community Call on Discord, led by Humpty Calderon, our Head of Community, to discuss the Ontology Harbinger project and how to build community through engagement and education.

  • As always, we’re active on Twitter and Telegram where you can keep up with our latest developments and community updates.

Global News

  • The World Bank released a review of an online webinar hosted by SME Finance Forum

The World Bank released a review of online discussions on the SME Finance Forum, where Gloria Wu introduced Ontology’s DID protocols and its credit-based DeFi lending platform, Wing Finance.

Ontology in the Spotlight

CryptoDep, a multi-functional cryptocurrency exchange listed Ontology as one of the top 15 projects with a market cap of $500M to $1B.

ONT was listed as one of the top BSC ecosystem coins by daily volume according to Phxgrp, and was the only DID-centered project featured in this list.

Ontology in the Media

Sky news — Zoom reaches $85m settlement in privacy and ‘zoombombing’ lawsuit

Zoom has agreed to pay $85 million to settle a lawsuit that accused the video conferencing giant of violating users’ privacy by sharing their data with third parties without permission and enabling “Zoombombing” incidents. Zoom has said it will take additional steps to prevent intruders from gatecrashing meetings. This will include alerting users when meeting hosts or other participants use third-party apps in meetings and offering specialized training to employees on privacy and data handling.

In this regard, the founder of Ontology said: This explains the need for users to have decentralized platforms in the big data age. Ontology’s decentralized identity solution, ONT ID, can provide users with decentralized identity and privacy management, and return control of data to users, thereby solving the privacy dilemma of centralized platforms.

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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