OntologyNetwork
Published in

OntologyNetwork

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

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.

--

--

--

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

Recommended from Medium

Elko Rehab | Rehab Elko

Apple’s New Announcements: The Good and Bad for Privacy

KryptoSeoul meets Lisbon!

A Story With No Ending, MetaMask User Lost 41 ETH in A Hack

Signing and Proving emails

Hack the box — Obscurity Writeup

iMyfone D-Back Data Recovery Software Tool!

iMyfone D-Back Data Recovery Software Tool!

5 Cybersecurity Trends to Expect in 2021

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
The Ontology Team

The Ontology Team

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

More from Medium

Ambrosus Bridge — part of our roadmap for 2022

IKONIC Adopts Enjin’s Efinity Parachain for Esports NFT Marketplace

Simplifying NFT Trading: EPNS Team Up With OpenBiSea To Facilitate Notifications for NFT Traders

How Play-to-Earn is Evolving Into Play-and-Earn