OntologyNetwork
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OntologyNetwork

Ontology Weekly Report (July 14–20, 2021)

Highlights

Last week, Ontology announced a partnership with BlockBank, an AI-powered crypto application that combines traditional mobile banking with cryptocurrency and blockchain. We are also continuing to promote our Harbinger Program v2 and are excited for new Harbingers to join us!

Latest Developments

Development Progress

  • We have completed development of Ontology’s EVM, designed to make Ontology fully compatible with Ethereum smart contract templates. We are 50% done with testing.
  • We have completed ETH RPC support and we are 90% done with testing.
  • We have completed 95% of Ontology’s new Ethereum account system.
  • We have completed 90% of the transaction optimization flow logic from the network layer to the transaction pool. This will significantly improve the transaction pool processing performance.
  • We’ve completed 90% of the EVM//OEP-4 asset seamless transfer technical solution, which facilitates the conversion between OEP-4 assets and EVM assets.

Product Development

  • ONTO mobile app v3.9.2 was released, adding BSC cross-chain functionality.
  • Ontology hosted AMAs with Piggy Finance and Polygon, attracting thousands of attendees.
  • Ontology hosted an NFT lottery with TWINCI. The NFTs sold out in 30 minutes and the promotional video was viewed over 2,000 times.
  • Ontology also hosted an NFT giveaway with dFuture, attracting over 5,000 participants.

On-Chain Activity

  • 118 total dApps have been launched on MainNet;
  • 6,647,155 total dApp-related transactions, an increase of 5,851 from last week.
  • 16,005,514 total transactions, an increase of 34,313 from last week.

Community Growth

  • 1,196 new members joined our global community this week. Our community is continuing to grow, and we encourage anyone who is curious about what we do to join us.
  • The Harbinger Program v2 continues and we are excited for new Harbingers to join us!
  • We held a Twitter Spaces session, “Building Thriving Blockchain Communities”, hosted by Humpty Calderon. ApeSwap and Idena attended as guest speakers.
  • As always, we’re active on Twitter and Telegram where you can keep up with our latest developments and community updates.

Global news

Ontology partners with BlockBank

Ontology announced a partnership with BlockBank, an AI-powered crypto application that combines traditional mobile banking with cryptocurrency and blockchain. ONT ID will be utilised in BlockBank’s V2 App, as well as DDXF, to help users stay in control of their data and privacy!

On July 19, ONT was listed on Japanese FSA licensed exchange, DeCurret. Users can now trade the ONT/JPY pair and enjoy a Taker fee discount.

Ontology in the Media

Forkast — Why decentralization is essential for protecting user data and privacy

Centralized data management is outdated and vulnerable to hacking, says Li Jun, founder of Ontology. Here is an excerpt from his recent article published on Forkast:

Traditionally, different sectors have used paper or centralized spreadsheets on internal computers to house information and data sets. However, as we have seen, increasingly sophisticated technology has led to a higher risk of threats to private information, especially when housed on centralized systems. Moving forward, it is essential that businesses and individuals invest in decentralized solutions to store and manage data. On a macro scale, end-to-end technology run on blockchain enables private information to be shared securely, while users remain in full control of their data. From an individual perspective, investment in decentralized digital identity solutions can help users take back control of how and when their data is shared, especially when the current systems are not taking adequate precautions to protect their privacy.

ChainNews — From casting to circulation, comprehensively combing the NFT industry value chain

On June 21st, Alipay released two limited-edition NFT skins, which sold out in minutes. NFT are growing in popularity because they allow real-world assets that to be tokenized and quantified. At the same time, NFTs are highly liquid, which makes NFTs easy to purchase and transfer.

On the third anniversary of Ontology’s MainNet, we launched 10,000 limited edition NFTs. This follows the launch of other Ontology-based NFTs such as HyperDragons, Ontology 2.0 Medals, and Citizen NFTs. Ontology is also providing DID solutions to the music NFT platform, ROCKI. In the future, we will continue to explore the opportunities to combine NFTs with DeFi as well as more traditional industries.

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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