OntologyNetwork
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OntologyNetwork

Ontology Weekly Report (December 7–13, 2021)

Highlights

The once fictional concept of the “Metaverse” is fast becoming a reality — and Ontology is set to be an integral part of this evolving ecosystem. Ontology’s ONT ID is equipped for the Metaverse of the future, allowing users to easily traverse different environments within the Metaverse, in addition to enabling migration in and out of the virtual world. Whether online or offline, trust is an integral feature of a functioning society. OScore, the credit review system, bolsters trust and reliability when transacting, benefitting both individuals and organizations alike. Ontology is committed to accelerating the arrival of the coming Metaverse via research and development of the blockchain, and further upgrades to its decentralized identity and data solutions.

Latest Developments

Development Progress

  • We have completed the launch of Ontology’s EVM TestNet. At the same time, the “Security Vulnerabilities and Threat Intelligence Bounty Program’’ launched by Ontology and SlowMist is in progress.
  • We are 100% done with the survey on the improvement of the decimals of ONT and ONG and we are 55% done with testing.
  • The ontology-go-sdk and ontology-java-sdk support ONT and ONG decimals updates, and SDK development has been completed.
  • We are 56% done with the survey on the RISCV’s simplified instruction set architecture.
  • We are 30% done with the survey on the truebit challenge design.
  • We are 10% done with the design of the Rollup VM.

Product Development

  • ONTO App v4.1.3 was released, bringing support for FIO chain and the domains feature, as well as updating paths for the sharing feature.
  • ONTO hosted a campaign with Mars Ecosystem. The first 200 participants, and the top 20 participants who stake the most, will receive rewards. The event is in progress, and will end at 17:00 (Singapore time) on December 17th.
  • ONTO hosted a social campaign with 4 BSC MVB projects: BabySwap, Mars Ecosystem, Binamon and Wanaka. Participants can evenly share the rewards after completing tasks such as downloading the ONTO App. The event is in progress, and the number of participants has exceeded 4,000 at present.
  • ONTO hosted a social campaign with PokeMine, participants who complete tasks such as downloading the ONTO App have the opportunity to earn rewards. The event has successfully concluded, with more than 400 participants.
  • ONTO hosted a social campaign with WidiLand. Participants who complete tasks such as downloading the ONTO App have the opportunity to earn rewards. The event is in progress, with more than 300 participants.

On-Chain Activity

  • 122 total dApps on MainNet as of December 13th, 2021.
  • 6,835,293 total dApp-related transactions on MainNet, an increase of 3,167 from last week.
  • 16,827,681 total transactions on MainNet, an increase of 28,001 from last week.

Community Growth

  • 302 new members joined our global community this week. Over the past four years, the global community has been Ontology’s most solid support. We also welcome more new members to join us to witness and promote the third historical revolution of the Internet together with Ontology.
  • We held our weekly Discord Community Call, led by Ontology Harbinger Polaris. He focused on whether price really reflects the development of a project; Polaris and Ontology Harbinger Atherton Hoge discussed this issue with community members, and Ontology has been insisting on the correct positioning and development direction.
  • 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 the current Metaverse construction. Community members expressed their opinions enthusiastically.
  • We held our Telegram weekly Community Call of our Spanish community for the first time, led by Ontology Harbinger Emilio, he reviewed the latest progress made in the fourth anniversary of Ontology with community members: Through the comprehensive deployment of DID, global users can maintain the unity of identity and the interoperability of data.
  • As always, we’re active on Twitter and Telegram where you can keep up with our latest developments and community updates.

Global News

  • Ontology founder Li Jun was interviewed by Cybernews, he said users are increasingly sharing their sensitive personal information in exchange for convenience services in the article: “Decentralized identity: is privacy worth the risk?”. He believes that decentralized identity can preserve privacy of users when leading increasingly interconnected lives.

Ontology in the Media

AMB Crypto — 《Metaverse shows potential to become a trillion dollar industry, transform Web3.0

“The Web 2.0 mobile internet changed how, where, when, and why we used the internet. In turn, this changed the products, services, and companies we used, which changed our business models, culture, and politics — the Web 3.0 Metaverse has the potential to do the same.”

In order to better promote the Web3 ecological construction and build a better decentralized and interoperable infrastructure for the arrival of the Metaverse, Ontology is carefully polishing the decentralized identity and data technology to put user identity privacy and data security at the core. At the same time, building a decentralized network with decentralized identity by constructing global partnerships.

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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