Sep 15, 2021
Ontology Weekly Report (September 7–13, 2021)
Highlights
Reflecting a major endorsement for decentralized identity, Ontology recently announced that ONT ID, its decentralized digital identity application, has surpassed 1.5 million users. Ontology has also now officially deployed its EVM TestNet and is opening its EVM-compatible public beta for developers.
Latest Developments
Development Progress
- We have completed the launch of Ontology’s EVM TestNet and are 45% done with testing. Ontology’s Security Vulnerabilities and Threat Intelligence Bounty Program has launched with a top prize of $12,000 in ONG rewards.
- We have completed Ethereum RPC support and are 100% done with internal testing. The TestNet has been synchronized online; we are 40% done with testing.
- We have completed 100% of Ontology’s new Ethereum account system development, the TestNet has been synchronized online; we are 42% done with testing.
- The EVM/OEP-4 asset seamless transfer technical solution, which facilitates the efficient conversion between OEP-4 assets and EVM assets, is complete and the TestNet has been synchronized online; we are 38% done with testing.
- We have completed 100% of the tutorial documents on EVM contract development on the Ontology chain.
Product Development
- Ontology released 3,333 limited edition Ontology Avatars. Each Avatar is randomly generated and can be tied to an ONT ID that represents the owner in the metaverse. All Ontology Avatars were claimed in less than 5 hours.
- ONTO hosted a cross-chain campaign with BurgerSwap Bridge. Participants who perform cross-chain transactions on BurgerSwap with ONTO will have the chance to win rewards. Bonuses will be given to the top 50 participants with the highest cross-chain transaction value on BurgerSwitch.
- ONTO hosted a liquidity mining campaign with ApeSwap, a decentralized exchange and yield farming platform on Binance Smart Chain. All participants will win rewards; 100 winners who stake in the ONG-BNB pool via ONTO Wallet will be entered into an ONG lottery.
- ONTO hosted a NFT competition event with GameDAO, the world’s first NFT encrypted artwork entertainment creation platform. Participants submitted 38 ONTO, Ontology and GameDAO themed NFTs. Users can vote for their favorite NFTs now via ONTO and will have the chance to win rewards.
On-Chain Activity
- 120 total dApps on MainNet as of September 13, 2021.
- 6,709,279 total dApp-related transactions on MainNet, an increase of 23,760 from last week.
- 16,347,156 total transactions on MainNet, an increase of 64,964 from last week.
Community Growth
- 789 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.
- We held our weekly Discord Community Call, led by Humpty Calderon, our Head of Community. He introduced Loot and the 3,333 limited edition Ontology Avatars campaign.
- We held our new Telegram weekly Community Call, led by Astro, an Ontology Harbinger from our Asian community. He had a lively discussion with community members, focusing on the centralized identity universal login component, ONT Login, and the batch verification solution, ONT TAG.
- We held our weekly DeID Summit, in which we spoke about “the difference between DID and Black Mirror”. We introduced Ontology’s decentralized identity framework that enables users to control their data and decide whether a third-party can access a particular piece of information about them.
- As always, we’re active on Twitter and Telegram where you can keep up with our latest developments and community updates.
Global News
- Ontology announced that ONT ID, its decentralized digital identity application, has surpassed 1.5 million users. The fact that over 1.5 million users have embraced decentralized identity through ONT ID reflects the significant appetite for blockchain solutions that safeguard user privacy in the midst of ongoing scamming, identity fraud, data leaks and ransomware attacks.
- Ontology has officially deployed its EVM TestNet and is opening its EVM-compatible public beta for developers. In collaboration with code auditor SlowMist, Ontology is setting up the Ontology Security Vulnerabilities and Threat Intelligence Bounty Programme, with a top prize of $12,000 in ONG rewards. In order to encourage community developers to quickly and easily familiarize themselves with the Ontology EVM development environment, we published Everything You Need To Know About Ontology EVM Contract Development.
Ontology in the Media
VentureBeat — Data management puts enterprises to the test
The Dell survey found that most business leaders lack confidence in their data protection solutions, with 82% of respondents reporting concern that their organization’s solutions won’t be able to meet future business challenges. Even companies taking steps to overcome the hurdles say that they anticipate major headwinds. According to Dell, 58% of businesses investing — or planning to invest — in software-as-a-service apps are struggling to find data protection for them.
ONT ID is a decentralized identity framework that complies with W3C’s recommended standards for decentralized identifiers and verifiable credentials. Decentralization, self-management, privacy protection, and ease of use are the key features of ONT ID that ensure users fully control their data and identity. Ontology has been actively collaborating with a variety of partners interested in adopting decentralized solutions. At present, we have provided solutions in multiple sectors including mobility, inventory management and logistics, professional marketplace, corporate data attestation, digital content, music copyright, and smart banking.
