OntologyNetwork
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OntologyNetwork

Ontology Weekly Report (February 15–21, 2022)

Highlights

Ontology released the MainNet Upgrade Announcement. The MainNet will be upgraded at 8:00 UTC, Feb 28, formally integrating EVM and upgrading the decimal change of ONT and ONG.

Latest Developments

Development Progress

  • We have launched Ontology’s EVM TestNet and it is expected to be integrated into the Ontology MainNet on February 28.
  • We have completed the survey on the RISCV’s simplified instruction set architecture.
  • We are 90% done with the truebit challenge design survey.
  • We are 60% done with the Rollup VM design.
  • We are 10% done with the Bridge design and development from NFT in NeoVM to NFT in EVM on Ontology.

Product Development

On-Chain Activity

  • 125 total dApps on MainNet as of February 21th, 2022.
  • 6,898,539 total dApp-related transactions on MainNet, an increase of 4,700 from last week.
  • 17,084,363 total transactions on MainNet, an increase of 24,224 from last week.

Community Growth

  • 4,334 new members joined our global community this week, bringing new vitality to the Ontology community.
  • We held our weekly Discord Community Call, with the theme “More uses of DID”, and discussed whether DID can identify other non-human entities, and how to expand the practical use of DID. The participants agreed that DID can identify real non-human entities, such as IoT devices, to provide a more convenient management solution for device administrators; DID can also identify virtual items in the virtual world to clarify the rights and interests of virtual items for holders allocation etc.
  • We held our Telegram weekly Community Discussion, led by Benny, an Ontology Harbinger from our Asian community. He shared the practical liquidity mining strategy, focusing on the importance and operation of liquidity pools.
  • As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.

Global News

  • Coin Rivet, a well-known blockchain media outlet, interviewed Gloria Wu, Ontology’s Chief of Global Ecosystem Partnerships, and published an article “Blockchain has endless benefits, says Ontology’s Gloria Wu”. Gloria said “By using blockchain technology and secure identity solutions built on blockchain, we can combat data breaches and place the control back in the hands of self-sovereign individuals.”

Ontology in the Media

World Bank — 《Is the Self-Sovereign digital identity the future digital business registry?》

“In this digital age of instant access to information and socially distant transactions, unique digital identity is a fundamental requirement. Otherwise, how can we be sure we are interacting with whom we mean to? Unfortunately, we are far from where we need to be. For businesses, legal identity is obtained through registration with a country’s business registration authority. In that process, the business is “born,” and ideally, it should be assigned a unique identifier and business name that is meant to facilitate its authentication and interaction with the government and other stakeholders. This information is collected into business registries.”

As a digital “identity card”, DID can not only help users prove their identity through uniqueness, but also return data and privacy to users through blockchain technology, solving information leakage and advertising harassment caused by the centralization of the traditional Internet. Ontology has been working in the DID industry for several years, and has gradually reached cooperative relations with service providers in various industries and fields around the world. Through the comprehensive deployment of DID, global users will have a unique digital identity, which can not only protect and manage identity and privacy, but also log in to various dApps with one click, maintaining identity unity and data interoperability.

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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