Ontology Weekly Report (November 1–7, 2022)

Highlights

Li Jun, Founder of Ontology, published “The Key to Allowing You to Own Your Identity in the Metaverse” in famous media outlet Martech Series, sharing his thoughts on how the metaverse has gained considerable traction over the years.

Latest Developments

Development Progress

We are 100% done with the Rollup VM design. The White Paper will be published soon.
We are 99% done with the Rollup RISCV EVM actuator.
We are 93% done with the Rollup L1<->L2 cross-layer communication.
We are 93% done with the Rollup L1<->L2 Token Bridge.
We are 99% done with the L1 data synchronization server.
We are 97% done with the L2 Rollup Node.
We are 76% done with the L2 blockchain browser.

Product Development

ONTO App v4.4.2 brought support for Aptos mainnet upgrade, added support for PlatON Chain, Kava EVM Chain and Cronos Chain, added support for transactions via domain names on Neo N3. The red packet function now supports Cronos Chain and PlatON Chain. The dApp function now supports Tron Chain and Neo N3 Chain.
ONTO NFT Marketplace added support for Solana Chain and added Sudo Swap NFT source.
Follow the @ONTO Wallet Official Announcement in Telegram for more details and the latest information!

On-Chain Activity

160 total dApps on MainNet as of November 7th, 2022.
7,194,584 total dApp-related transactions on MainNet, an increase of 8,274 from last week.
18,047,781 total transactions on MainNet, an increase of 26,963 from last week.

Community Growth

We held our Weekly Community Call, focusing on “Get ONG through ONT”. Community members discussed how to help people who hold ONT to have an in-depth understanding of ecological governance and the way to obtain ONG together.
We held our Telegram weekly Community Discussion led by Ontology Loyal Members, talking about NFT theft. For the occasional theft of NFTs in Web3, the Ontology OWN infrastructure provides users with secure digital authentication and credentials, and also provides a wide range of Web3 gateways combined with trusted identities.
As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.

Global News

Ontology published an article “A Brief Analysis of Web3 Credit System Construction Ideas, Difficulties, and Solutions”, discussing what reputation and credit looks like in Web3 compared to Web2.
Ontology hosted the HallOWNeen celebrations, bringing three great events for global users to have some fun whilst grabbing ONG. More than 500 community members celebrated together.

Ontology in the Media

Martech Series -The Key to Allowing You to Own Your Identity in the Metaverse

“For the success of the metaverse to continue to grow, there is a fundamental need for decentralized identities (DIDs). The introduction of decentralized identities could see users bring their avatars and assets across different ecosystems, beyond the limitations of a single metaverse. The concept of decentralization enforces a self-owned identity, independent from any authority, just like in real life. Furthermore, digital identities should act as digital ‘passports’ that identify a user as they travel across metaverses.”