Ontology Weekly Report (November 15–21, 2022)

Highlights

Ontology published the Tech Viewpoint “Who’s Optimistic about ZK-Rollups”, sharing information on Layer2 solutions, and helping people learn more about #zkSync and ZK-Rollups.

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 95% done with the Rollup L1<->L2 cross-layer communication.
We are 95% 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 82% done with the L2 blockchain browser.

Product Development

ONTO hosted its online Football Fiesta activity with BNB Chain, Nerve and Ivy Market, the Hold2Earn campaign with PlatON, and a Quiz activity with CLV. Earn big rewards by participating with ONTO. Follow the @ONTO Wallet Official Announcement on Telegram for more details.

On-Chain Activity

160 total dApps on MainNet as of November 21st, 2022.
7,207,709 total dApp-related transactions on MainNet, an increase of 8,360 from last week.
18,091,884 total transactions on MainNet, an increase of 19,411 from last week.

Community Growth

We held our Weekly Community Call, focusing on “Layer2”. Recently, Layer 2's are very popular due to the launch of MainNet 2.0 by zkSync. Community members discussed “what is Layer2?” “What is Rollup?” and “What is the difference between Optimistic Rollup and ZK-Rollup?” together.
We held our Telegram weekly Community Discussion led by Ontology Loyal Members, talking about ”Proof-of-Reserves”. Proof-of-Reserves uses blockchain technology, offering a secure way to audit a crypto company without exposing any private user data.
As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.

Global News

Ontology launched ONT Locked Products of staking in Binance to warm up for the upcoming 5th anniversary celebrations, global users can subscribe and share 50,000 ONT now.
Ontology launched the Web3 Cup Activity: “Now Is All — Who Will Make Their Mark?”, join the event and 1000 ONG up for grabs!

Ontology in the Media

Cointelegraph -Worldwide Web founder explains the role interoperability will play in Web3

Interoperability is vital for cross-collaboration across digital environments and essential as we #BUIDL4Web3.

“By definition, interoperability is a feature of Web3 whereby a product or system can work seamlessly across platforms with other products or services. Webb defines interoperability simply as “creating a token — a nonfungible token (NFT)” since, at its most basic level, no one can control it besides the creator.”