OntologyNetwork
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OntologyNetwork

Ontology Weekly Report (January 11–17, 2022)

Highlights

Ontology has announced the opening of a new European office in Berlin, Germany. We believe that both the industry heritage and the policy environment have given Germany a key strategic position in the field of blockchain and Web3. By opening its new office in Europe, Ontology aims to play a role in increasing privacy across the continent and highlight the benefits that its decentralized solutions can bring to users and regulators alike. We are excited to contribute to the continent’s ongoing efforts to create a more secure web. We look forward to growing our presence in Europe and contributing to the ecosystem through a host of new partnerships, community members, and employees.

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 85% done with testing.
  • We are 79% done with the survey on the RISCV’s simplified instruction set architecture.
  • We are 61% done with the truebit challenge design survey.
  • We are 33% done with the Rollup VM design.

Product Development

  • ONTO is hosting an NFT lottery campaign with NFTmall, and has released the first co-branded NFT in 2022. Participants who buy one Cyberpunk ONTO 2022 NFT have the chance to win a great bonus. The event is in progress, you still have the opportunity to get rewards.
  • ONTO hosted an NFT giveaway campaign with X WORLD GAMES. Participants who completed related tasks had the opportunity to earn NFT equipment. The event has successfully concluded, with more than 2,700 participants.
  • ONTO hosted an NFT giveaway campaign with SIL Finance. Participants who completed related tasks had the opportunity to earn SIL Augmented Functional NFTs (SAFN). With the help of SAFN, stakers can enhance their mining experiences in several ways. The event has successfully concluded, with more than 1,000 participants.
  • ONTO hosted an NFT giveaway campaign with Dragon Kart. Participants who completed all the tasks had the opportunity to earn a Dragon Kart NFT. The event has successfully concluded, with more than 1,100 participants.

On-Chain Activity

  • 124 total dApps on MainNet as of January 17th, 2022.
  • 6,862,340 total dApp-related transactions on MainNet, an increase of 5,613 from last week.
  • 16,949,618 total transactions on MainNet, an increase of 20,769 from last week.

Community Growth

  • This week, DuMont, an outstanding Harbinger from our English community, published《Staking vs Candidate Node Ownership》, which introduced the Ontology staking strategy for the community members in detail. The article answered questions relating to ”How to participate in Ontology staking”, “How to launch a candidate node?”, and more. Community members all said that they have benefited a lot.
  • This week, Humpty Calderon, our Head of Community, was invited to join the AMA held by BingX. He shared Ontology’s long-term efforts and future goals, with a focus on DID and data. He explained how users will be on-boarded into the Ontology experience for secure, self-sovereign control over their digital existence. Humpty also interpreted Ontology 2022 Roadmap: 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.
  • We held our weekly Discord Community Call and Telegram Community Call, with the theme “Staking”. For those who are new to Staking, they rely more on APY when choosing a node, while Ontology Harbinger Polaris and SG Node believe that it is necessary to pay more attention to the revenue distribution ratio of each node. It is necessary to check the comparison before the start of each Consensus Round, which can reduce problems such as staking reward losses.
  • We held our Telegram weekly Community Discussion, led by Benny, an Ontology Harbinger from our Asian community. He talked with community members about DID, including its function, meaning, and the changes it brings to Web3. The Ontology community believes that DID will be an indispensable foundation in Web3; by comprehensively deploying DID, Web3 will realize the protection of identity and privacy, and truly return data ownership to users.
  • As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.

Global News

  • Li Jun, Founder of Ontology, was invited to participate in an exclusive interview hosted by Crypto Coin Show, and shared the latest progress of Ontology EVM. He said that Virtual Machines (VMs) play a crucial role in both the aforementioned need for interoperability and in the expansion of applications built on Ontology. The Ontology EVM will be launched in Q1 2022, and aims to establish seamless interoperability between Ontology and the Ethereum platform and to offer an inclusive experience to developers and users.
  • Moonstake published a series of articles to introduce their strategic partners. In the article 《What You Need to Know about Ontology in 2022》, Moonstake elaborated on Ontology’s plans and goals for 2022, stating that they are proud to be strategic partners of Ontology. They will continue to maintain strong support for the ever-growing and developing Ontology ecosystem in 2022, building Web3 infrastructure with Ontology together.

Ontology in the Media

Finextra — 《Five Digital Identity Trends to Watch in 2022

“In 2020, the world went online and fraudsters were quick to pounce on the opportunities as businesses rapidly digitised their operations. The wave of opportunistic fraudsters drove the rate of identity document (ID) fraud up by 41% in 2020. Given the rise in sophisticated identity fraud over the past 12 months and the staggering losses of $712 billion as a result, it is critical that organisations understand the most common trends and take the necessary steps to protect themselves. ”

With the continuous development of decentralized technology, decentralized identity is getting more and more attention. Whether it is traditional Internet giants or blockchain start-ups, they are building their own decentralized identity solutions based on blockchain technology, and are committed to building a new generation of Internet with more security and privacy. 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.

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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Ontology is a high performance, open source blockchain specializing in digital identity and data. ONTO: http://onto.app/downloadpage/TW Telegram: http://t.me/OntologyNetwork

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The Ontology Team

The Ontology Team

Active project domain: https://ont.io/

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