OntologyNetwork
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OntologyNetwork

Ontology Weekly Report (January 1–10, 2022)

Highlights

The Ontology 2022 Roadmap has been officially released. Our goal for 2022 is to make the Ontology high-speed, low-cost, public blockchain, the blockchain of choice for Web3 applications. We are working hard to develop a more diverse and prosperous Ontology ecosystem. Ontology’s efforts in creating interoperability between the different public chains, including Ethereum with the upcoming Ontology Ethereum Virtual Machine (EVM) launch, will provide the opportunity to incubate more high-quality Web3 applications in the new year, across a multitude of industries and services. Ontology will continue to vigorously develop ONT ID, ONTO, and other products, making Web3 available to everyone. Ontology is proud to be part of this rapidly changing landscape and is excited to share more updates in the future. Here’s to another year exploring the future together.

Latest Developments

Development Progress

  • We have completed the launch of Ontology’s EVM TestNet. Developers are welcome to conduct various application tests. Related documents can be obtained at the Ontology Developer Center.
  • We are 100% done with the survey on the improvement of the ONT and ONG decimals and we are 75% done with testing.
  • We are 72% done with the survey on the RISCV’s simplified instruction set architecture.
  • We are 53% done with the truebit challenge design survey.
  • We are 22% done with the Rollup VM design.

Product Development

  • ONTO App v4.1.5 was released, bringing support for Avalanche and NFTs on OEC, as well as FIO address registration and binding.
  • ONTO is hosting its very own NFT ONTOvaganza. This event rewards NFT holders from previous ONTO events with more NFTs. Each NFT comes with a different ONG airdrop quota and rights. Top winners can get up to 1,000 ONG from this event. The event is in progress, and the claiming of NFTs will end at 21:00 (Singapore time) on January 15th. Don’t forget to open ONTO and claim your NFT!
  • ONTO is hosting a campaign with Parking Infinity. Participants who complete related tasks have the opportunity to earn rewards. The event is in progress, with more than 1,100 participants.
  • ONTO hosted an NFT Giveaway campaign with MetaYoka. Participants who completed related tasks had the opportunity to earn NFT rewards. The event has successfully concluded, with more than 2,000 participants.
  • ONTO hosted a campaign with HyperJump. Participants who completed all the tasks had the opportunity to earn rewards. The event has successfully concluded, with more than 1,000 participants.

On-Chain Activity

  • 123 total dApps on MainNet as of January 10th, 2022.
  • 6,856,727 total dApp-related transactions on MainNet, an increase of 18,420 from last week.
  • 16,928,849 total transactions on MainNet, an increase of 75,643 from last week.

Community Growth

  • 5,539 new members joined our global community this week. Over the past four years, Ontology Harbingers have always been our most dedicated supporters, driving the growth of the global community. We welcome more new members to join us to experience and promote a more decentralized future together with Ontology.
  • We held our weekly Discord Community Call, with the theme “EVMs”. The Ontology EVM will be launched in Q1 2022. The EVM aims to establish seamless interoperability between Ontology and the Ethereum platform, and offer an inclusive experience to developers and users. The new VM will join a suite of existing VMs, which include the Native (Ontology) VM, NeoVM, and WasmVM. Community members believe that this is a crucial step in the realization of the Ontology Multi-VM. It adds to the opportunities provided by the WasmVM, which allows more traditional developers to deploy apps on the blockchain.
  • We held our Telegram weekly Community Discussion, led by Benny, an Ontology Harbinger from our Asian community. He talked with community members about ENS, including its application scenarios, how to participate in the ecology, and more. Community members discussed the differences between Ontology DID and ENS. For example, ENS currently focuses more on associated addresses, while DID focuses on a wider range of information and is more inclined to personal data.
  • As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.

Ontology in the Media

Gizmodo — 《What Is Web3 and Why Should You Care?

“In recent months, you may have come across a phrase growing in popularity: Web3. You might be wondering what it is, what it will mean for the future, and how exactly the third-generation internet differs from the first two. And now the dawn of Web3 is upon us. People define it in a few different ways, but at its core is the idea of decentralization, which we’ve seen with cryptocurrencies (key drivers of Web3). Key to this decentralization is blockchain technology, which creates publicly visible and verifiable ledgers of record that can be accessed by anyone, anywhere. The blockchain already underpins Bitcoin and other cryptocurrencies, as well as a number of fledging technologies, and it’s tightly interwoven into the future vision of everything that Web3 promises. The idea is that everything you do, from shopping to social media, is handled through the same secure processes, with both more privacy and more transparency baked in.”

Ontology has worked on bringing trust, privacy, and security to Web3 through providing decentralized identity (DID) and data solutions. From the very inception of the project, the aim has been to build the infrastructure required for users to interact with this new generation of decentralized applications, and that aim has not changed. 2021 draws to a close and 2022 promises to bring us closer to Web3 than ever before. Four years of work has positioned Ontology as a leader in the space, through the development of products focused on DID and data, and by taking a Multi-VM approach.

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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