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Ontology Weekly Report (November 1–8, 2021)


Recently, Ontology announced that it has further deepened its cooperation with ROCKI, a next-generation music streaming service and music NFT platform built on Binance Smart Chain. Ontology provides ROCKI with a decentralized identity-based batch verification solution. ONT TAG ensures ROCKI users’ data remains secure and artists are rewarded for the work they produce.

Latest Developments

Development Progress

  • We have completed the launch of Ontology’s EVM TestNet and are 86% done with testing. At the same time, a large number of community developers are actively participating in the “Security Vulnerabilities and Threat Intelligence Bounty Program”, launched by Ontology and SlowMist.
  • We have completed Ethereum RPC support and are 100% done with internal testing. The TestNet has been synchronized online; we are 87% done with testing.
  • We have completed 100% of Ontology’s Ethereum account system development and the TestNet has been synchronized online; we are 86% 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 86% done with testing.
  • We are 100% done with the survey on the improvement of the accuracy of ONT and ONG and we are in the process of internal testing.        

Product Development

  • ONTO App v4.1.0 was released, adding a list display of NFTs on multiple chains and supporting NFTs on Ethereum, Ontology, BSC and Polygon.
  • ONTO hosted a campaign with Landshare. The first 200 participants and top 10 participants who stake the most will receive the most rewards, and the top 100 new ONTO users who participated in the event will also receive additional rewards. The event is in progress, and will end at 17:00 (Singapore time) on November 12th.
  • ONTO hosted a campaign with CafeSwap (Polygon). Participants who meet certain conditions will have the chance to enter a lottery to win ONG rewards. The activity is in progress and will end at 17:00 (Singapore time) on November 11th.
  • ONTO hosted a campaign with Wing and ApeSwap. The first 100 participants will each win rewards and all eligible users can participate in a lottery. The event is in progress, and will end at 2:00 (Singapore time) on November 11th.
  • ONTO hosted a campaign with ButterSwap. The top 200 participants and the 3 participants with the highest participation received rewards. The first 200 new ONTO users participating in the event also received additional rewards. The event has successfully concluded, with more than 600 participants. 

  • ONTO hosted a campaign with O3 Swap. The first 300 users who use ONTO to participate received rewards. All participants who met the conditions had the opportunity to participate in the lottery. The event successfully concluded, with about 1,000 participants.

On-Chain Activity

  • 121 total dApps on MainNet as of November 8th, 2021.
  • 6,812,832 total dApp-related transactions on MainNet, an increase of 22,280 from last week.
  • 16,674,485 total transactions on MainNet, an increase of 104,115 from last week.

Community Growth

  • 2,722 new members joined our global community this week. The newly launched community activities have attracted a large number of new members to join us.
  • Ontology published the next couple of interviews in its Harbinger Series. John Francisco from our Spanish community stated that his responsibility is to provide support to Ontology’s global community partners, Munaj Hossan from our Bengali community hopes to help Ontology carry out diversified activities to develop the community.
  • Ontology Harbinger Emilio from our Spanish community, was invited to participate in an online interview organized by YouTube KOL, BCryptoDinero. He discussed how Ontology focuses on providing decentralized identity and data solutions for Web3, and shared Ontology’s vision, plan and future outlook. 
  • We held our weekly Discord Community Call, led by Humpty Calderon, our Head of Community. He introduced how to contribute to Ontology’s ecosystem; Ontology attaches great importance to actual contributors in the ecology, so we are preparing monthly Q&As, which will explore the current status of Ontology, share node operation experiences, and some new ideas.
  • We held our Telegram Staking Q&A, led by Humpty Calderon. He elaborated on the economic model of Ontology and answered staking-related questions so that interested members can participate more quickly.
  • We held our Telegram weekly Community Call, led by Astro, an Ontology Harbinger from our Asian community. He discussed with community members about Ontology’s upcoming 4th anniversary NFT event, with community members sharing their own suggestions.
  • As always, we’re active on Twitter and Telegram where you can keep up with our latest developments and community updates. 

Global News

  • Ontology, Nervos and QuarkChain jointly organized the “EVM Autumn Concerto’’ blockchain technology seminar. Ontology Technical Director, Ning Hu, shared Ontology’s research on VM technology and the possibility of future development in the field of VM. Blockchain technology experts discussed the development and future of EVM together.
  • Ontology Technical Director, Ning Hu, was invited to participate in the second hardcore technology sharing BeWater Live held by Bewater Community, top developer community of China, sharing content on the theme “From 2D Social Network to 3D Social Network” for technology enthusiasts.
  • Ontology’s Chief of Global Ecosystem Partnerships, Gloria Wu, shared her opinion in the article “Women and Web 3.0 — Experts Weigh-In On Community and Financial Freedom”, published in BeInCrypto. She said decentralized finance offers more opportunities for authentic creativity and boundary-breaking, and women’s role in the redefinition of what finance is, is key.

Ontology in the Media

CoinDesk — Why US Policymakers Should Embrace Web 3

Big tech has been embroiled in an unending series of controversies over the past decade, ranging from poor stewardship of consumer data and privacy breaches to disinformation and algorithmic bias. But these platforms are now being disrupted and disintermediated by Web3. For instance, decentralization has opened up the possibility of a world in which people can own their data and grant applications permission to use it on a limited basis, rather than having that data littered across hundreds of centralized databases.

When people talk about Web3, it is often difficult to circumvent a puzzle: how to protect their own identity and privacy data while also being connected with the real world? In order to solve this confusion and to prepare people for the Web3 explosion, Ontology proposed the decentralized digital identity (DID) solution, ONT ID. ONT ID is a decentralized identity framework based on the W3C commendations for decentralized identifiers and verifiable credentials, using blockchain and cryptographic technology, that can quickly identify and connect people, data, and services. It is decentralized, self-sovereign, privacy-preserving, and easy to use, enabling users to fully control their own data and identities.