Highlights

This week saw lots of work around Ontology technical developments, as work continues on preparing Ontology chain’s EVM. Good progress is being made to ensure the launch happens in quarter 1 of this year. As always, the community has been active across a number of platforms, discussing the progress of Ontology and looking at what the future of Web3 could look like.

Latest Developments

Development Progress

• We have completed the development survey and testing on the improvement of the ONT and ONG decimals.
• We are 95% done with the survey on the RISCV’s simplified instruction set architecture.
• We are 85% done with the truebit challenge design survey.
• We are 53% done with the Rollup VM design.

Product Development

• ONTO hosted various online activities such as the NFT lottery campaign with Samurai、Haku Swap、Spartan Protocol and Move Network. Participating with ONTO will earn rewards such as NFTs. Follow the @ONTO Wallet Official Announcement in Telegram for more details!  

On-Chain Activity

• 125 total dApps on MainNet as of February 14th, 2022.
• 6,893,839 total dApp-related transactions on MainNet, an increase of 3,564 from last week.
• 17,060,139 total transactions on MainNet, an increase of 25,031 from last week.

Community Growth

• We held our weekly Discord Community Call, with the theme “Does Ontology realize interoperability?”. Ontology Harbingers shared the current progress of Ontology EVM. At present, Ontology has NativeVM, NeoVM and WasmVM, which can provide support for applications built on these three virtual machines. Most applications for Web3 are developed on Ethereum. The integration of the EVM will greatly improve the interoperability of Ontology, thereby providing the blockchain infrastructure and DID for both Web2 and Web3 applications. Ontology EVM will be officially launched on the mainnet soon, stay tuned.
• We held our Telegram weekly Community Discussion, led by Benny, an Ontology Harbinger from our Asian community. He shared the progress of the Valentine’s Day special event: more than 150 community members submitted three-line love letters, which will be officially delivered by Ontology to the recipients designated by the participants.
• As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.

Global News

• Coin Rivet, a well-known blockchain media outlet, published an article “Web3 will transform the internet we know today, says Ontology founder”. Ontology’s founder Li Jun said “Web3 refers to the next era of the internet, a decentralised online ecosystem built upon blockchain, where data is collectively stored. Therefore, to become a Web3 application infrastructure, Ontology not only needs to provide high-quality DID and data solutions, but also needs to achieve high interoperability. We are looking forward to launching our EVM as it will increase cross-chain interoperability, which is key for Web3, and will expand our DID solutions across the ecosystem.”

Ontology in the Media

The World Economic Forum — Web3: The hype and how it can transform the internet

“The current internet, Web 2.0, relies on systems and servers owned largely by big corporations, raising concerns over system vulnerability and control. When Meta’s associated platforms suffered a global outage in early October — exacerbated by the centralization of its servers — there were calls to adopt Web3 and its decentralized architecture.” In Web3, network interaction and data storage will rely on the decentralized network formed by blockchain, and DID technology will allow users to independently manage their own identity and data. At the same time, technical interconnection and interoperability will also become a key step to open up all systems of Web3 and allow data to flow throughout the entire network and value chain. In this process, Ontology will play the role of infrastructure provider, providing the best DID and data solutions for Web3, and providing the decentralized platform required for application construction.