OntologyNetwork
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OntologyNetwork

Ontology Weekly Report (December 1–6, 2021)

Highlights

In a relatively new industry like blockchain, change is a constant state. When Ontology launched at the end of 2017, Bitcoin was putting crypto on the map through continuous price surges, before crashing at the end of 2018. Since this time, in an uncharted landscape that at times seemed dominated by speculation, Ontology strove to be a lighthouse in a sea of confusion, providing clear and reliable blockchain use cases that put users’ interests first. To celebrate Ontology’s 4th anniversary, Ontology and community members jointly designed the anniversary special event “Cyberspace 4 Philosophers”.

At the same time, the new version of our official website ont.io was launched. The new architecture and multi-language version will bring users a better experience. With a continued focus on decentralized identity and data solutions, Ontology will bring better trust, privacy, and security to the new web3.

Latest Developments

Development Progress

  • We have completed the launch of Ontology’s EVM TestNet and are 97% finished with testing. At the same time, the “Security Vulnerabilities and Threat Intelligence Bounty Program’’ launched by Ontology and SlowMist is in progress.
  • We have finalized Ethereum RPC support and have completed internal testing. The TestNet has been synchronized online; we are 98% done with testing.
  • We have completed Ontology’s Ethereum account system development and the TestNet has been synchronized online; we are 97% done with testing.
  • The EVM/OEP-4 asset seamless transfer technical solution, which facilitates the efficient conversion between OEP-4 assets and EVM assets, is complete and the TestNet has been synchronized online; we are 100% done with testing.
  • We are 100% done with the survey on the improvement of the decimals of ONT and ONG and we are 20% done with testing.
  • The ontology-go-sdk and ontology-java-sdk support ONT and ONG decimals updates.
  • We are 40% done with the survey on the RISCV’s simplified instruction set architecture.

Product Development

  • ONTO App v4.1.2 was released, optimizing the NFT management function.
  • ONTO hosted a campaign with BabySwap, the top 20 participants who stake the most will receive the highest tier of rewards. The event successfully concluded, with more than 300 participants.
  • ONTO hosted a campaign with CZodiac, the first 300 participants will receive rich rewards. Participants who meet certain conditions will have the chance to enter a lottery. The first 100 new ONTO users participating in the event also receive additional rewards. The event is in progress, and will end at 17:00 (Singapore time) on December 6th.

On-Chain Activity

  • 122 total dApps on MainNet as of December 6th, 2021.
  • 6,832,126 total dApp-related transactions on MainNet, an increase of 8,875 from last week.
  • 16,799,680 total transactions on MainNet, an increase of 66,150 from last week.

Community Growth

  • 814 new members joined our global community this week, and Polaris from the English community officially became a Ontology Harbinger. This excellent community member has always been an active supporter and will bring more new energy to our community, and also welcome more new members to join us.
  • Ontology published the next couple of interviews in its Harbinger Series. Polaris from our English community said that Ontology uses blockchain technology to continuously promote the development of the smart economy on the basis of protecting user privacy, making it fairer and more transparent, so he has become a supporter of Ontology.
  • We held our weekly Discord Community Call, led by Humpty Calderon, our Head of Community. He focused on how OScore promotes a fairer blockchain; There needs to be a system that allows us to quickly determine the authenticity or credibility of a person in the blockchain world. OScore is an onchain credit score for programmable creditworthiness, OScore can present one’s credit standing in DeFi and is calculated using many different pieces of on-chain transaction data.
  • We held our Telegram weekly Community Call, led by Benny, an Ontology Harbinger from our Asian community. He discussed with community members about Ontology’s 4th anniversary NFT event and recent popular NFTs and games. Community members expressed their great anticipation for this extraordinary commemorative event.
  • As always, we’re active on Twitter and Telegram where you can keep up with our latest developments and community updates.

Global News

  • Ontology’s Chief of Global Ecosystem Partnerships, Gloria Wu, published the article “Why a decentralized metaverse is Web 3.0’s new frontier” in Forkast. She said decentralized networks built on blockchain can help to ensure no single entity has monolithic control over a given technology. Blockchain will be essential for creating a thriving metaverse and providing the decentralized infrastructure needed.

Ontology in the Media

Verdict — 《Web3: A fundamentally different kind of internet?

“Blockchain has come a long way in recent years and, due to the massive hype surrounding it, it can be easy to forget that the nascent technology has not been around for long. Web3 has gained traction throughout 2021 due to the rise of blockchain-based technologies including cryptocurrencies, non-fungible tokens (NFTs), DeFi, and decentralised autonomous organisations (DAOs).”

In such an environment, we need to have a unique identity-decentralized identity. Based on this, we can log in to countless applications in Web3, manage our own data, and prove our credibility. In order to achieve this goal , Ontology intensively cultivates decentralized identity and data solutions, carefully polishes existing products, and puts user identity privacy and data security at the core. In September 2021, the number of users who manage their digital identity using Ontology’s Decentralized Identity Application, ONT ID, is over 1.5 Million. To date, ONT ID has been integrated into a number of leading products through partnerships with Mercedes Benz manufacturer Daimler Mobility, Microworkers, ROCKI and many more.

Want more Ontology?

Learn more about our decentralized data and identity solutions on our website and official Twitter account. You can also chat with us on Telegram and keep up-to-date with the latest news via our Telegram Announcement account.

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