Ontology Weekly Report (May 1–9, 2022)
Highlights
As part of our ONT ID framework upgrade, we’re pleased to announce that the Ontology Verifiable Credentials SDKs are now open source. This forms part of our commitment to building Web3 infrastructure and making privacy accessible to all.
Latest Developments
Development Progress
- We are 93% done with the Rollup VM design.
- We are 60% done with the RISCV instruction set contract implementation.
- We are 50% done with the Rollup RISCV EVM actuator.
- We are 40% done with the Rollup L1<->L2 cross-layer communication design.
Product Development
- ONTO App v4.2.5 brought support for authoritative information sources such as CoinMarketCap, and all tokens on CoinMarketCap are now fully supported.
- ONTO hosted various online activities with Ivy Market, AFK, SUNT·DaoFi, DEMON, Drift Delivery, Anonverse, Shambala, OceanMollu, HEZI, Hangout, X-Rush, DeFi Launch and OpenLeverage. Earn rewards by participating with ONTO. Follow the @ONTO Wallet Official Announcement on Telegram for more details.
- ONTO App integrated NFT Marketplace Ivy Market to provide users with additional benefits.
On-Chain Activity
- 135 total dApps on MainNet as of May 9th, 2022.
- 6,989,694 total dApp-related transactions on MainNet, an increase of 34,660 from last week.
- 17,400,262 total transactions on MainNet, an increase of 58,848 from last week.
Community Growth
- We held our weekly Discord Community Call, with the theme “Possibility of DID layout in NFT field”. There are still many problems behind the current NFT industry, such as piracy, single function, etc. DID can theoretically solve some problems such as right confirmation and verification for NFT, Ontology is providing ONT ID identity framework integration for NFT projects to gradually complete the layout of the NFT industry.
- We held our Telegram weekly Community Discussion led by Polaris, an Ontology Harbinger from our English community. He shared the latest developments with community members: Ontology’s Verifiable Credentials SDKs now open source for all Go and Java developers, accelerating the adoption of DID in the blockchain sphere.
- As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.
Global News
- Ontology’s Business Development Manager Li Ge was invited to participate in the TRENDS TWITTER SPACES NFT special session held by Cointelegraph Chinese, focusing on the theme of “BAYC and Moonbirds are popular, what is the next new NFT?” In the live broadcast, they shared opinions on “how to choose NFT for newbies” and “the layout of Ontology on the NFT track”.
- Ontology’s Business Development Manager Li Ge was invited to participate in the online marketplace session hosted by SME Finance Forum, a member of the World Bank Group, sharing the benefits of DID in the form of the suite of solutions offered by ONT ID.
- Ontology’s unique infrastructure supports robust cross-chain collaboration and is available on the well-known Digital Asset Exchange DECOIN.io. It now supports digital assets transactions on the Ontology chain, providing global users with safe and convenient digital asset services.
Ontology in the Media
Cointelegraph — “Decentralized credit scores: How can blockchain tech change ratings”
“From DeFi to decentralized credit rating, the blockchain industry has brought security and efficiency to the financial world. Although decentralized credit rating is in its early stages, even with the advancements already made, there’s no doubt about its growth into an even better assessment tool in the future.”
Based on DID technology, Ontology has built a complete on-chain reputation scoring system. The ONT ID identity framework verifies multiple trust credentials, evaluates the user’s behavior and reputation, generates real scores, and gives users on-chain convenience. Combined with DeFi, SocialFi and other products, users with higher reputation scores are more likely to gain the trust of other users; they can also get discounts when participating in lending.
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.
