OntologyNetwork
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OntologyNetwork

Ontology Weekly Report (July 1 — 6, 2021)

Highlights

It has been another exciting week at Ontology HQ. The development of our EVM, which connects our trusted decentralized identity solutions with millions of developers and users in the EVM-based blockchain ecosystem, is now fully complete. In other big news, we celebrated an important milestone in Ontology’s history, the third anniversary of our MainNet launch.

Latest Developments

Development Progress

  • We are delighted to announce that Ontology’s EVM development is now fully complete. It is designed to be fully compatible with the Ethereum contract ecosystem.
  • ETH RPC support is also fully complete, while the testing phase is 50% complete.
  • Ontology’s new Ethereum account system is now 80% complete.
  • The flow logic of optimizing transactions from the network layer to the transaction pool is now 50% complete. Transaction pool processing performance has been significantly improved.
  • EVM assets and OEP-4 assets seamless transfer technical solution is 50% complete, which facilitates the conversion and circulation between OEP-4 assets and EVM assets.

Product Development

  • To celebrate the third anniversary of the Ontology MainNet launch, ONTO released 10,000 limited edition collectible NFTs. There was a great reaction from the global community, which claimed all of the NFTs within 4 hours of their launch.
  • Activities co-organized with ApeSwap, CafeSwap and HyperJump are ongoing, while the recently organized activity with Polygon was a great success, with over 600 users participating.
  • We also launched a campaign with BabySwap where users who provide liquidity on BabySwap have a chance to win BABY and ONT.

On-Chain Activity

  • 117 dApps have been launched on MainNet.
  • The total dApp transaction volume is 6,636,388, an increase of 19,975 from last week.
  • 15,918,917 transactions have been completed on MainNet, an increase of 110,606 from last week.

Community Growth

  • 189 new members joined our global community. We are very excited to see the Ontology community continue to grow and we encourage anyone who is curious about what we do to join us.
  • We were thrilled to hold an event celebrating our 3rd MainNet Anniversary with guest speakers from the Ontology team and some of our ecosystem partners! We recapped our technology journey and key developments over the past 3 years.
  • We held our weekly Community Call on Discord, led by Humpty Calderon, our Head of Community. Humpty gave a brief recap of the burgeoning Ontology ecosystem, as well as an update on our development progress, and decentralized identity topics.
  • As always, we’re active on Twitter and Telegram where you can keep up with all our latest developments and community updates.

Global News

Ontology celebrated the 3rd anniversary of its MainNet launch

During the 3rd anniversary of Ontology’s MainNet launch, Ontology posted a series of reports and celebratory videos reviewing our history and achievements over the past three years. To celebrate this milestone we launched an event on twitter where our followers were given a chance to win 10 ONG by changing their profile picture to match our MainNet 3rd anniversary logo.

Ontology and ROCKI’s Clubhouse Chat

Humpty Calderon, Head of Community at Ontology and host of DeID Summit, connected a host of remarkable leaders with global communities on Clubhouse. ROCKI CEO, Bjorn Niclas, joined Humpty to share his thoughts on NFTs and the fake identity crisis, as well as providing insights on why ROCKI selected Ontology for its digital identity solutions. You can listen to their conversation here.

Wing’s Ethereum FlashPool now supports UST, USDC, and DAI

Following the execution of WIP-34, Wing’s Flash Pool Ethereum now supports UST, USDC, and DAI. Fun fact: Wing is the first lending platform to support UST.

Ontology Ranking High

CryptoMarket, a cryptocurrencies transaction platform, announced ONT as one of the top 3 Polkadot ecosystem projects by relative liquidity ratio (RLR). RLR is a 24hr trading volume to market cap ratio.

ONT featured in LunarCRUSH’s Top 5 coins based on its Galaxy Score, a proprietary score that measures crypto against itself with respect to the community metrics pulled from across the web.

On June 30, ONT’s staking APY was over 60%. Furthermore, ONT ranked No.2 in BSCDaily’s correlation rankings.

Ontology In The Media

The Currency Analytics - Ontology (ONT) Decentralized Identity (Did) Framework and OScore in Metaverse

The Currency Analytics, a highly reputable online cryptocurrency publication, wrote that Ontology is going to be an important part of the evolving fictional concept of the “Metaverse.” The Metaverse is a collective, virtual space, which consists of the totality of virtual worlds and augmented realities on the internet.

Ontology’s “ONT ID”, a decentralized identity (DID) framework, and “OScore”, a self-management scoring system, aim to make it possible for users to migrate between parts of the Metaverse with consistent identities, while at the same time ensuring that data privacy is respected.

FXleaders: 2021 - The Best Crypto Networks with Cross-Chain Technology

Cross-chain technology has been introduced by Ethereum, as a solution to the blockchain challenges regarding its interoperability and scalability. With cross-chain technology, different tokens and data from various blockchains can be transferred easily.

Ontology is a new high-performance public blockchain, allowing firms to integrate blockchain technology into their businesses. What makes Ontology special is its decentralized identity solutions, most notably, ONT ID. Users have full access and ownership over any data associated with them. Ontology enables open and secure cross-chain transactions, in which users can transfer data and tokenized assets within the framework of an enterprise-wide collaboration.

Want more Ontology?

You can find more details on our website for all of our decentralized solutions across identity and data, or keep up with us on Twitter. Our Telegram is for discussion, whereas the Telegram Announcement is designed for news and updates if you missed Twitter!

Other Resources

LinkedIn / Medium / Facebook / Reddit / Discord / YouTube

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