Biweekly update 29th January — 12th February
This is not financial advice
Ontology continues to grow in their own way: paying attention mostly to the development and stability, not to social events and orderly updates on social networks. Devteam is trying to engage new members, as they need a Senior Server Development Engineer, Test Manager, Cryptography expert etc. Urgent upgrade of the MainNet went good, the working process is coherent and tight-knit. The increase in the number of holders and transactions is steady. These are substantial arguments to prove that Ontology has far-reaching plans and they will complete every point of their agenda like a house on fire.
Development
- On February 5th, 2019, the Ontology team started an urgent upgrade of the stake authorisation on the MainNet — mustsee for node operators. Read more about this upgrade here.
Social encounters
- WhiteboardSeries with the deep dive on the tech side of Scalable Blockchains.
In the 3rd episode, we had Jun Li from OntologyNetwork with Alex Skidanov & Illia Polosukhin. - BlockchainBrad speaks EXCLUSIVELY with OntologyNetwork founder Li Jun. We deeply explore this high-performance public distributed trust collaboration platform. Ont includes a series of complete distributed ledgers & smart contract systems.
- Wilson Hua, Product Manager at Ontology, on stage at KBGS in Seoul last month sharing why Ontology is the most attractive public blockchain for game developers.
Upcoming events
- 1 February — Blockchain Labs Opening Ceremony. (Tokio, Japan)
- 23 February — Ontology Harvard meeting. (Cambrige, USA)
Finance
- ONT is now available for swap on SWFT Blockchain @SwftCoin, a one-stop, cross-chain payments app that enables users to trade and pay crypto anywhere. By utilizing patent-pending cross-chain tech, users can enjoy the best rates and low fees.
- Ontology dApp Incentive Models: Receive a 60% ONG rebate from your dApp.
Roadmap
What’s next?
- Support for Mpc and more cryptographic algorithms
- Distributed community framework release
- Distributed trust collaborative platform release
- Distributed financial services release
- Support for more trust collaboration dApps
Rumors
- Ontology Global Capital Launches with 100 million dollars AUM and roadshow in US and Asia.
- Ontology’s Blockchain Went Down
This is a confirmed thing (from their Telegram chat admins/GitHub/Other Sources). Apparently, it was down due to ‘maintenance’.
This obviously means a few things:
1. $ONT is not decentralized in any way, shape or form. If a blockchain can be taken down, then obviously the developers themselves are the only ones running the blockchain.
2. This exposes the greater problem with a lot of (most) PoS-based chains — which is the fact that they are mostly centralized because they operate via a synchronous model. In other words, if the agreement threshold (67% of nodes) is not reached, a block is not produced. This means if more than 1/3 of the nodes simply fail to validate / operate (like what happened yesterday), then the blockchain stops operating.
3. Knowing what was stated in #2 is true, it’s fair to state that $ONT controls >1/3 of the total nodes (47) that are on the network.
- ParityGame to use Ontology for Existing Products and a new Platform. Learn more here. ParityGame’s first VR blockchain-based game “The Isolated City” will be launched on Ontology. The game is built with Unreal Engine 4 that supports DX11, PhysX, APEX, and NVIDIA 3D technology, which brings ultra-high definition image quality. Its game preview received over one million views on video sharing website Bilibili.
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.
