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Ontology: MainNet Updated to Version 1.6.0., TestNet Update to Version 1.6.1 Alpha, the launch of VaaS-ONT, “military-grade” formal verification service

Biweekly update 9th April — 23rd April

Ontology coped with a great amount of financial and development work during the past two weeks. They managed to operate several updates on the TestNet and MainNet, proposed Decentralized Identity System for IoF IEEE Standards — Ning Hu, Senior Architecture Expert at Ontology, introduced Ontology’s framework tailored to the IoF. Moreover, Ontology and its strategic partner Beosin (LianAn Technology) have launched VaaS-ONT, the world’s first customized formal verification platform after Ethereum’s, which is significant because it ensures a safe, secure, and reliable blockchain infrastructure. Blocks tech, BlockData, and Bitwires join Ontology as new nodes. Blocks.tech dedicates to growing into a world-leading blockchain data and information provider, Bitwires is currently China’s largest blockchain media platform in terms of user traffic, BlockData is a leading brand in blockchain research and professional services, and is a global blockchain data and analysis service provider. $ONG and $ONT were listed on new exchanges and besides, $ONT is now live on the Voyager app. Partnership with DappRadar was announced, this company provides tracking decentralised applications on Ethereum and EOS blockchains. Rankings, analysis and more. Ontology becomes more socially active, as they took part in Asian Chain Plus and they are also planning to host Digital Economy Solutions 2019 on May 19th in Amsterdam. Ontology twitter is getting more and more popular, the community keeps growing and there is a slight increase in involvement among all social networks. Keep your mind open with Paradigm!

Development

GitHub metrics
Developer activity (from Coinlib.io)
  1. Supports returning transaction fees to dApp developers as part of the dApp incentive schemes;
  2. Supports ledger consistency verification;
  3. Adds a tool for collecting information about node versions in P2P modules;
  4. Supports automatically configuring the fd limit of Ontology nodes;
  5. Adds configuration of the number of HTTP REST interface biggest links;
  6. Improves P2P message broadcasting performance;
  7. Fixes some virtual machine-related bugs.
  • Ontology Proposes Customized Decentralized Identity System for IoF IEEE Standards — The IoF connects smart farming, smart food processing and storage, smart agrilogistics, and smart kitchen. An ID system using distributed ledger technology (DLT) for IoF scenarios ensures trust traceability of data. Ontology’s ID and DDXF solutions can realize cross-system data processing and data ownership transmission, thus offering a solution for food processing, logistics, and IoF storage. IEEE-SA is the world’s largest technical professional association dedicated to advancing technology for the benefit of humanity. IEEE Standards span a broad spectrum of areas, including information technology, telecommunications, power, and energy.
  • Ontology TestNet Update to Version 1.6.1 Alpha — This update fixes the misallocation of transaction fees when node role switches in governance contract and fixes node start failure in Supervisor Mode.
  • According to Blockfolio update:
  1. Ontology and its strategic partner Beosin (LianAn Technology) have launched VaaS-ONT, the world’s first customized formal verification platform after Ethereum’s.
  2. Beosin joined Ontology’s “Co-Builder Plan” and worked with Ontology to focus on smart contract development, security auditing, and formal verification, in a bid to strengthen the security of smart contracts.
  3. VaaS-ONT is the world’s second formal verification platform customized for public blockchain, and has been deeply integrated into SmartX, Ontology’s smart contract integrated development environment.
  4. Beosin’s formal verification technology has been applied to the civil aviation and defense industry for many years, which allows VaaS-ONT to provide a “military-grade” formal verification service.

Significance: The security of smart contracts is of utmost importance to blockchain platforms offering this technology. The launch of VaaS-ONT, the world’s first customized formal verification platform (after Ethereum’s), is significant because it ensures a safe, secure, and reliable blockchain infrastructure. While others have focused on manually auditing smart contracts, the VaaS-ONT formal verification tool automates the process. It is able to precisely locate vulnerable code, quickly find out the causes, and verify common security vulnerabilities, security properties, and functional correctness. This strengthens the security of the smart contract platform significantly. Compared to conventional test methods, formal methods are able to define the required correctness and security more precisely, and ensure higher coverage. Improving upon the security and reliability of smart contract platforms will be an overall win for the blockchain ecosystem and encourage more enterprise-level adoption.

  • The Ontology Developer Community Rewards Program is now live. Complete tasks and win rewards from the 20,000 $ONG reward pool. Bounty page is here. Read more via link.

Ecosystem

  • Atlas ($ATLS), an Ontology ecosystem project, is the premiere token on Coinsuper_OFCL’s new CS Hub. Atlas was launched on 22nd April at 20:00 — CEN, ETH & ONT Sessions!
  • Blocks tech, BlockData, and Bitwires join Ontology as new nodes. Blocks.tech is an emerging fintech startup providing blockchain-related information and data services. Blocks.tech runs Winkrypto, Block123.com, ChainNews, and more. BlockData is a leading brand in blockchain research and professional services, and is a global blockchain data and analysis service provider. Bitwires is currently China’s largest blockchain media platform in terms of user traffic. With over 1,000 projects and 700 media partners signed on to their platform, Bitwires has reached two million downloads and its API cooperates with 50 high-traffic apps, covering over seven million users.
  • Ontology: Ready for all businesses.
  • Congratulations to OnCustodian on their launch day. Onchain Custdoain is an integral custody service for institutional clients and accredited investors to manage digital assets in a secure and compliant environment. Watch their video via link.

Social encounters

  • Ontology Launches $20K Dev Incentive Program & ‘First Formal Verification’ System for Blockchains.
  • Jun Li, Founder of Ontology, participating in the panel “The Decentralized Future: Interoperability And Scalability” at TOKEN2049 in March. — watch here.
  • Twitter Activity Index of ONT is very close to TRON. TRON still leads the way in Twitter Active Index. TOP 3 on Twitter Active Index Monthly — TRON, ONT, IOTA

Upcoming events:

  • On May 19th in Amsterdam, the Ontology community will be hosting “Digital Economy Solutions 2019”, an event showcasing a variety of blockchain projects with AMAs, workshops, and more.

Finance

Token holders and the number of transactions dynamics (from Explorer.ont.io)
Source: coingecko
Source: coingecko
  • Trade $ONT and $ONG on BitAsset CNYT, TWD, and USDT markets. Take advantage of it with Zero trading fee promotion.
  • New Market Update: The USDT-ONT market on Bittrex is now open for trading.
  • Coinone is listing $ONT & $ONG on KRW market.
  • HuobiWallet is going to support ONT, ONG and ONT DApps pretty soon.
  • $ONT is now live on the Voyager app. Buy & trade ONT with USD, safely, simply and commission-free. Get the Voyager app in the iOS App Store and start trading now.

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

Partnerships and team members

  • Leading EOS Community joins Ontology as a new node — Lichang, incubated by the world-leading EOS community EOS Gravity, announced that it is joining the Ontology ecosystem as one of its nodes. Lichang’s mission is to empower public blockchains through forming a community of public blockchain KOLs, users, and dApps. Lichang currently has several partners including Gravity Blockchain, EOS Gravity, Huobi Eco, Waterdrip Capital, INBlockchain, and more.
  • Announcement of a partnership with DappRadar — Tracking decentralised applications on Ethereum and EOS blockchains. Rankings, analysis and more.
  • Onchain Custodian, the Sequoia-backed digital asset custodian, announces its first customers and partners. Headquartered in Singapore, Onchain Custodian has developed a personalised and comprehensive custody service for institutional players and accredited investors to secure digital assets with institutional grade security and controls. The SAFE™ Digital Asset Custody Platform is flexibly built to meet the possible futures of digital asset custody.

Rumors

  • Ontology made a meme with a highly popular photo of a black hole in the web.

Social media metrics

Social media activity
Social media dynamics
Social media dynamics

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.

This is not financial advice.

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