Ontology Weekly Report (January 10–16, 2023)
Highlights
The Ontology community has reached 10,000 followers on CoinMarketCap. Let’s get to the next 10k!
Latest Developments
Development Progress
- We are 100% done with the Rollup VM design. The White Paper will be published soon.
- We are 98% done with the Rollup L1<->L2 cross-layer communication.
- We are 98% done with the Rollup L1<->L2 Token Bridge.
- We are 99% done with the L1 data synchronization server.
- We are 99% done with the L2 Rollup Node.
- We are 92% done with the L2 blockchain browser.
- We are 10% done with the Evm bloom bit index optimization.
- We are 10% done with the high ledger memory usage optimization.
Product Development
- ONTO App v4.4.6 integrated KCC and Canto Chains, Added asset swap on Cronos and Aurora Chains, and enabled Vision Chain assets in Red Packet.
- ONTO has published the December monthly report, summarizing a series of functional optimizations including integrated Ripple Ledger, Litecoin, Celo and ENULS Chains, and added asset swap on Harmony and Boba Network.
- ONTO partnered with IoTeX to host a Telegram Quiz campaign of $100 USDC rewards. Follow the @ONTO Wallet Official Announcement on Telegram for more details.
On-Chain Activity
- 160 total dApps on MainNet as of January 16th, 2023.
- 7,273,509 total dApp-related transactions on MainNet, an increase of 7,245 from last week.
- 18,223,198 total transactions on MainNet, an increase of 14,623 from last week.
Community Growth
- We held our Weekly Community Call with the theme of “The Dimensions of Reputation”. The construction of Web3 reputation is an important issue of Web3 trust and security, and it is also an element of project construction such as DeFi and DAO. How to build reputation and how to choose reasonable scoring dimensions are issues that reputation providers need to take seriously.
- We held our Telegram weekly Community Discussion led by Ontology Loyal Members, discussing “the theme of “CEX vs DEX”, comparing the advantages and disadvantages between them. Participants also got the chance to win Loyal Member NFTs.
- As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.
Global News
- Ontology published the “Meet the Team” series and interviewed Ontology’s Head of Community Humpty Caldero. He has shared his thoughts about Web3 in the next five years:
What we’re going to see is more people owning their identity and data whilst creating monetization opportunities. Both privacy and self-sovereignty are important to people
In the Media
Cointelegraph — Using blockchain technology to combat retail theft
Blockchain technology could be the world’s solution to ending retail theft! By registering products on the blockchain with unique IDs, items such as power tools would then only be activated once purchased and could be programmed to be unusable if stolen.
“Through Project Unlock, a unique ID is registered and assigned to each of our power tools. When that product is purchased, the RFID system activates the power tool for use. At the same time, the transaction can be viewed by anyone, since that information gets recorded to a public blockchain network.”
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