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Ontology: Partnership with MovieBloc, Q&A transcription, new listing, TestNet update to v1.6.0-beta.2

Biweekly update 12th March — 26th March

This is not financial advice.

During the last two weeks Ontology development progress was not so tangible, but they are still moving forward on the roadmap. Nevertheless, they made a decision on partnership with MovieBloc and this decision seems to be a good one. This is a great use case that should help to validate the approach Ontology is using with their enterprise-grade, high-performance, distributed-trust, blockchain collaboration platform. It puts their technology in the hands of millions of users (800 million+ downloads of KMPlayer), as well as a rapidly growing advertising network. This partnership can demonstrate the ability of blockchain technology to ensure transparent revenue share, while incentivizing and rewarding viewers to take certain actions. Moreover, Obntology team attended several meetups, including Token2049 and Algorand’s Shanghai meetup, they also plan to arrange Saigon meetup on 28th of Maarch. Binance Launches $125K Ontology Gas Trading Competition. TOP Network, an Ontology incubated project plans to release new platform in Q2 2019. Finally, there are positive dynamics in growth of community and social networks subscribers. Keeping our hands on the holster for new updates!

Development

GitHub metrics
Developer activity (from Coinlib.io)
  • Ontology Stake Authorization FAQ addition: The Ontology Foundation bonus is only manually rewarded to those staking in Phecda, Dubhe, Merak, Mixar, Alkaid, Alioth, and Megrez. Read more here.
  • Q&A Transcription
  1. Question: Identity theft is a major problem causing billions of dollars in losses. Is Ontology a potential effective and secure solution to this plague?

: Ontology is an effective solution to this plague. ONT ID, Ontology’s decentralized identity protocol, is compatible with @w3c standards and does not collect and store personal information. They are nearly finished developing an extended account system for ONT ID.

2. Question: What are the Ontology Plans for Growing and sustaining a long-term developer community?

Answer: Our dApp incentive plan first provides comprehensive technical and marketing services to developers to build their dApps, and then reimburses them with the transaction fees their dApps collect. — Li Jun, Founder of Ontology.

3. Question:What is the origin of the name Ontology? How did the name come about? Please do tell us the story behind it.

Answer: The origin of the name Ontology is related to both the philosophical study of being and IT (through the Semantic Web), reflecting the nature of blockchain technology. — Li Jun, Founder of Ontology

4. Question: How does Ontology differentiate itself from other competing blockchains offering similar services?

Answer: One way Ontology differentiates itself from other competing chains is its flexible and scalable high-performance infrastructure. The other is the trust collaboration platform which helps link businesses and legal systems with Ontology. — Li Jun, Founder of Ontology

5. Question: Is scalability only achieved through sharding or is there any other way in which scalability can be achieved besides implementing sharding on the Ontology Blockchain?

Answer: Scalability is not only achieved through sharding. Besides sharding we are also working on layer 2 solutions as well as other chains for horizontal scalabilility. — Li Jun, Founder of Ontology

6. Question: What is set to be the biggest accomplishment for Ontology in 2019?

Answer: Ontology’s biggest accomplishment for 2019 is to implement real business applications in different industries — other than gaming and entertainment that Ontology’s infrastructure is currently quite popular for. — Li Jun, Founder of Ontology

  • Polaris TestNet will update to v1.6.0-beta.2 from 03:30 to 04:00 (UTC). After the update, TestNet nodes should update to the latest version to avoid data inconsistency. If you have any questions, please ask the team at http://discord.ont.io .
  • What is new Candy box? — With the new Candy Box, they are giving you more options and respecting the option of wanting a third party custodian to backup your private key. However, they will continue to offer you to manage your own private key to master your data or assets in ONTO and Cyano. ONTO requires users to store their own ONT ID private key, which cannot be recovered if lost and is inconvenient for some users to store.

Social encounters

Source: Ontology twitter
  • Tiffany Li, VP of Ontology Global Capital, speaks at @token2049, “Writing the cheque is the easy part, helping entrepreneurs build and grow by connecting them to right resources is key to successful investment”. More info here.
Source: Ontology twitter
  • Talking with CNBC, Li Jun mentioned Fosun has finished their Ontology-based loyalty points solution, improving their system which has 100 million users. He also shared that Ontology is working with Lanxess on chemical supply chain tracking.
  • Honglei Cong, Senior Blockchain Expert at Ontology, is at @Algorand’s Shanghai event discussing Ontology verticle and horizontal scalability.
Source: Ontology twitter
Source: Ontology twitter
Source: Ontology twitter

Upcoming events

  1. March 28 — Ontology Saigon Meetup

Finance

Token holders and the number of transactions dynamics (from Explorer.ont.io)
Source: coingecko
Source: coingecko
  • Ontology (ONT) Price Jumps 13% as Founder Teases Movie Distribution Deal with MovieBloc. More via link.
  • New Listing Update: The Ontology Gas wallet is open, and trading will begin shortly on Bittrex. For more information about Ontology Gas (ONG) visit their web-site.
  • Binance Launches $125K Ontology Gas (ONG) Trading Competition. More info here.
  • You can now buy ONG through O3 Swap, check it out — You can also buy NEO/ONT/GAS with other currencies.
  • ONT is now available for limitless non-custodial swaps with more than 160 crypto’s on @ChangeNOW_io — account-free, worry-free, faster than light. More info here.
  • Banko Wallet now supports ONT, ONG, and Ontology dApps. Banko Wallet brings along its 7,000+ active dApp users and provides quality crypto asset management services and user experience for the Ontology community. Read more and download here.
Source: Ontology twitter

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

  • At a speakers’ banquet hosted by Ontology on the eve of the token2049, Ontology announced a partnership with MovieBloc, a new film distribution platform driven by KMPlayer and Pandora TV. MovieBloc will use Ontology infrastructure for their new platform and Ontology will support MovieBloc with capital, marketing, and operations as a core partner. MovieBloc is a reverse ICO project driven by the Korean video streaming platform Pandora.tv. Founded in October 2004, Pandora.tv runs and operates three major content-related services: the first video streaming platform Pandora TV, the most-downloaded multimedia player KMPlayer (with over 800 million downloads), and the fast-growing advertising network and exchange PRISM. With these services, experiences, and Ontology blockchain technology, MovieBloc aims to create the biggest and most participant-centric film ecosystem.
Source: Ontology twitter
  • What’s to come for $TOP Network, an Ontology incubated project — read on medium. Upon TOP Network’s public blockchain release in Q2 2019, Dingtone, CoverMe, and SkyVPN, along with their existing user bases exceeding 50 million, plan to migrate to the new platform. These apps will get rid of their centralized communication layer and start to operate on TOP Network’s decentralized cloud communication network, a shift that will make them the first pack of dApps using the TOP Network.

Rumors

  • Come to the new HyperDragons Go! Dragon Arena and compete with players from all over the world.
  • To celebrate @topnetwork_top, an Ontology incubated project, being the 1st to be listed through Huobi Prime, we are giving away 50,000,000 $TOP. More airdrops to come you can find here.
  • What is Ontology coin? by Crypto Kid — watch here.
  • Cryptocurrencydesign made an overview on Ontology, paying attention to the partnerships — read here.

Social media metrics

Social media dynamics
Social media dynamics
Social media activity

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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