VentureBeat, a leading technology media outlet, published Decentralized identity may be critical for the success of Web3, written by Li Jun, founder of Ontology. ONT ID also received attention as it was highlighted in a report by Huobi Research.  

Developments/Corporate Updates

Development Progress

• We are 100% done with the Rollup VM design. The White Paper will be published soon.
• We are 98% done with the Rollup RISCV EVM actuator.
• We are 81% done with the Rollup L1<->L2 cross-layer communication.
• We are 83% done with the Rollup L1<->L2 Token Bridge.
• We are 99% done with the L1 data synchronization server.
• We are 91% done with the L2 Rollup Node.
• We are 51% done with the L2 blockchain browser.  

Product Development

• ONTO App v4.3.4 fully upgraded its Red Packet functionality. It is now supported by Ontology, Ontology EVM, BNB Chain, Polygon Chain and Optimism Chain assets.
• ONTO has published its July monthly report, summarizing a series of functional optimizations, various exciting activities and cooperations, as well as the progress of its global ecosystem growth.
• ONTO launched the Web3 Relay campaigns. Trying out deposit, swap & bridge, dApps and collecting NFTs in ONTO can earn a share of a 6,000 ONG prize pool!
• ONTO hosted various online activities such as the free giveaway campaign with MetaForest Game,Vision,CHILL,HALO Network. Participating in ONTO events will earn rewards. Follow the @ONTO Wallet Official Announcement in Telegram for more details!  

On-Chain Activity

• As of August 24, 2022, there have been 154 dApps launched in total on MainNet.
• There have been a total of 7,142,792 dApp-related transactions completed on MainNet, an increase of 34,361 dApp-related transactions compared to the past month.
• There have been a total of 17,890,282 transactions completed on MainNet, an increase of 113,410 transactions compared to the past month.  

Community Growth & Bounties

• This month, several Ontology Community Calls and discussions were held on Discord and Telegram, focusing on topics such as Ontology Consensus Rounds, “how to choose the right node”, helping global members to correctly realize the distribution of node income and other income-related reference indicators, and encouraging users to continue to participate in node governance.
• Ontology organized an AMA and invited community Harbinger Dumont to share his rich experience in Ontology staking and answer the questions encountered by community members.
• As always, we’re active on Twitter and Telegram where you can keep up with our latest developments and community updates. To join Ontology’s Telegram group and keep up to date, click here.  

New Team Members

We are delighted to welcome our newest members of the Ontology team. This month, we welcomed an Operations Associate, and an Operations Associate Analyst.  

Recruitment  

At Ontology, we are always looking to expand our team. We currently have a list of open roles and are looking to hire ambitious and hardworking individuals (see below). Check out our website for full details.  

• Blockchain Test Development 
• EngineerEngineer, iOS
• Engineer, Research
• Front-end Engineer
• Blockchain Quality Assurance Engineer
• Product Manager
• Marketing Manager
• Operations Manager
• BD Specialist
• Content Editor
• Senior PMO  

Out & About — Event Spotlight

It was all hands on deck this month with a string of news reports and developments:  

• Ontology cooperated with TaskOn, a Web3 task collaboration platform. Humpty Calderon, our Head of Community, hosted an AMA, sharing how to effectively participate in community governance. Global users can complete relevant tasks through TaskOn and join the AMA to win ONG rewards.  
• Ontology cooperated with Multichain, a well-known cross-chain router protocol, and will soon integrate the Multichain cross-chain bridge service to provide Web3 users with efficient, safe cross-chain services.  
• Huobi Research released the latest survey report “Web3 middleware: The bet on infrastructures to accelerate Web3”. It mentioned how Web3 middleware, including decentralized identity (DID), reputation systems, node services, databases, and Oracles, will solve the problems related to the inability of blockchains to be implemented, and become the “protagonists” of the next round of ecological explosion. It introduced ONT ID, ONTO Wallet, OScore, and believed that these products can promote the prosperity and development of the Web3 ecosystem.  
• VentureBeat, a well-known technology media, published “Decentralized identity may be critical for the success of Web3” written by Li Jun, analyzing the reasons why DID has become the key to Web3’s success.  
• Humpty Calderon, our Head of Community, was invited to participate in an interview with Benzinga Crypto, a well-known YouTube channel, talking about self-sovereign identity, its opportunities and potential pitfalls, and sharing the suite of decentralized identity products that Ontology has developed.
• Ontology Harbinger Geoff Richards was invited to participate in a market discussion by Huobi Research, discussing “Web3 infrastructure” and “decentralized identity components” with experts and researchers on “Web3 middleware: The bet on infrastructures to accelerate Web3”. 
• W3C published “With FIDO2, is a passwordless future on the horizon?” related news, pointing out that the era of Web3 passwordless login has begun. The ONT Login component in Ontology ONT ID has already been built, and continues to provide a mature passwordless login mode for platforms and applications.  
• The Verifiable Credentials WG of W3C has published a First Public Working Draft for “Verifiable Credentials Data Model v2.0.”, The verifiable credentials used in Ontology ONT ID are also constructed based on the v1.0 version, and are currently open sourced to Web3 developers in Java and GO around the world.