Development
- Ontology dApp Incentive Model Proposal — medium thread.
1. Returning a set amount of transaction fees from the developer’s dApp to the developer (for example 50%).
2. Rewarding the most active dApps with Ontology Foundation bonuses (excluding gambling apps).
3. Rewarding and supporting chosen dApp ideas submitted to the Ontology Bounty Program.
4. Technical support for exceptional dApps or existing applications.
- New token standard OEP-506. According to an announcement, OEP-506 is designed to standardize a series of interfaces for STOs while meeting other requirements essential to their function, such as KYC compliance. Ontology’s new STO platform addresses four major areas, including trust services, registration services, compliance services and notification message services. Each service will be implemented through a decentralized application (dapp), where smart contract access control allows for control of regulatory agencies, issuers and investors.
- According to the Medium post Ontology sharding network extends upon the existing main chain model, supports three dimensions listed below, and adopts a hierarchical network architecture which achieves ultra-large-scale network expansion through multi-layer network sharding.
- Network sharding: Messages requiring sharding are only broadcast within the shard’s network.
The Ontology sharding network uses a hierarchical network architecture. Each shard network is managed independently and each node participates in different sharding networks through staking. - Transaction sharding: Transactions run in different shards, and each shard runs an independent consensus algorithm.
Ontology transaction shards are based on smart contracts. Each smart contract runs on a shard network. Transactions that call smart contracts need to be sent to the corresponding shard network for processing. - State sharding: Shards only need to maintain state data in their shard without saving data of other shards.
All services in the shard are implemented in smart contracts. Like smart contracts, smart contract state data is only saved in the corresponding shard network, thus realizing state sharding.
Learn more about Ontology sharding here.
Design goals:
- Effective linear scalability;
- Transactions in a shard are only processed by nodes in the shard;
- Support for atomic cross-shard transaction processing;
- Using ONG for the sharding network incentive model.
- Ontology dApp Incentive Models: Descriptions and how to apply explained.
Details of the plan include:
1. Total incentive amount of 200,000,000 ONT and ONG
The Ontology Foundation will award a total of 100,000,000 ONT and 100,000,000 ONG to the developers with the most active dApps in regular quotas.
2. The incentive ranking is determined by dApp active users and transaction volume
We will publicize the top 50 dApps based on the number of active users and transaction volume. If activity reaches a set number, it will qualify for ranking. If the number of dApps qualified for ranking is less than 50, the total bonus amount will be adjusted proportionally according to the number of dApps in the ranking.
3. The higher the ranking, the greater the incentive
Incentives are divided into daily and weekly incentive rankings. Higher rankings will receive greater incentives and if the same dApp appears in both daily and weekly rankings, it will receive both of the rewards.
4. Incentive Model A declaration
After one year of trial operation, the Foundation will determine whether to adjust the model based on community feedback.If dApp activity is found to be manipulated, a penalty will be issued. Gambling dApps are currently not included in this incentive model.
- Ontology Monthly Report (December).
- The DappOnline platform started the ONT zone, and ONT’s dapp developers are welcome to submit Dapp.
- Ontology Neptune Released: Python Smart Contract Compiler for Developers. It includes more syntax features and precise syntax checking while maintaining Python semantics, enabling developers to harness the power of smart contracts. New compiler features and new compiler design framework. Read here.
- SmartX notice: SmartX upgrade from 7am (UTC) on 24/12/2018. After the upgrade, the server will support Python compiler 2.0. For more details tap here.
Social encounters
- Ontology Ranks Fourth on China’s Latest CCID Rank. On December 20th, China Center for Information and Industry Development (CCID), under the Ministry of Industry and Information Technology of China, published the latest rankings of its Global Public Blockchain Technology Assessment Index (GPBTAI). Ontology is ranked fourth on the list, with a composite index of 112.6.
- Li Jun, Founder of Ontology, talking at “Scaling the Blockchain — The Revolution of Node Hosting” in San Francisco last night. Read about Ontology sharding here.
- Li Jun, Founder of Ontology, on stage at Blockchain Connect Conference.
- “First up we have Jun Li from @OntologyNetwork speaking with us.” — Near Protocol tweeted.
- Taiwan Meetup 2018 was taken on December 28.
- Ontology Tech AMA. At 00:00–23:59 (UTC), Thursday, January 10th, 2019. During this time questions were being asked at the Ontology Reddit.
- Ontology Tech AMA Summary. Read on Medium.
Upcoming events
Binance’s 1st Blockchain Week is in Singapore this month! Ontology will be there with Microsoft, Goldman Sachs, PwC, and more.
Roadmap
What’s next:
- Plato 2019 — Heterogeneous Chain Network.
- Support for MPC and more cryptographic algorithms.
- Distributed community framework release.
Partnerships and team members
- Ontology ONT_Dev_Platform has been added to the Microsoft Azure and Amazon AWS Marketplaces — Microsoft and Amazon’s online software stores — and is expected to enter Google’s in January 2019.
ONT_Dev_Platform includes:
- Ontology Test Mode: Ontology’s standalone test environment for dApp development.
- SmartX: SmartX is a one-stop IDE that can be used to compile, deploy, and invoke smart contracts. It provides a wealth of smart contract templates and powerful online editors.
- Ontology Block Explorer: The Ontology blockchain explorer synchronizes local Ontology blockchain information, you can use it to see the block height, transactions, and more.
- Ontology MainNet, with TEEX, to be the First to Support Private Smart Contracts. Ontology has announced its cooperation with computing platform TEEX, in which both parties will work on on-chain data privacy/security and secure client private key solutions. A TEE (Trusted Execution Environment) is a black box in a computer chip which protects code and data running in it from being tampered with or stolen by any external software, even privileged access software such as operating systems. At the same time, TEE provides remote verification functions, so that users can actively verify whether user behavior conforms to expectations and ensure that users do not obtain any private data while providing effective proof of work.
Rumors
- HyperDragons Is Leaving Ethereum for the Ontology Network. Ontology, together with MIXMARVELGAME, is launching HyperDragons Go! over Christmas, an upgraded version of MixHyperDragons which will go live on the Ontology public chain! Earn a 20 ONG worth gift pack with successful registration. Learn more here.
- Wontology — a dice game powered by Ontology. There you can invest as a banker and earn service fees, or set the wager and roll the dice.
- ONTO Candy Box Halloween Gold Pumpkin Swap Guidelines. A Golden Pumpkin can be swapped for a rare Halloween Dragon. Halloween Dragons are a special species in HyperDragons Go!.
- The cartoon from @musuko_crypto.
Finance
There is a sharp increase in number of token holders and transactions over the last month.
- The Ontology token swap ended on December 31st, 2018.
Social media metrics
The graph above shows the dynamics of changes in the number of Ontology Facebook likes, Reddit subscribers and Twitter followers. The information is taken from Coingecko.com.
