Highlights

After careful consideration, we decided to reopen the “Cyberspace 4 Philosophers’’ Limited Edition NFTs activity in order to allow even more of our community members to participate in Ontology’s 4th anniversary celebration. This time, the quota was released in four rounds to meet the needs of community members all around the world. Within 7 days, all 10,000 NFTs were fully sold out, demonstrating the extraordinary enthusiasm of Ontology community members. Congratulations to everyone who managed to mint their NFTs. The staking is about to begin, so please stay tuned!

Latest Developments

Development Progress

• We have completed the launch of Ontology’s EVM TestNet. At the same time, the “Security Vulnerabilities and Threat Intelligence Bounty Program’’ launched by Ontology and SlowMist is in progress.
• We are 100% done with the survey on the improvement of the decimals of ONT and ONG and we are 65% done with testing.
• We are 65% done with the survey on the RISCV’s simplified instruction set architecture.
• We are 40% done with the survey on the truebit challenge design.
• We are 15% done with the design of the Rollup VM.

Product Development

• ONTO Web hosted a campaign with IoTeX. The first 500 participants will earn rewards. The event is in progress, and will end at 17:00 (Singapore time) on December 26th.
• ONTO hosted a NFT Giveaway campaign with OpenBiSea. Participants who complete tasks such as downloading the ONTO App had the opportunity to earn special NFTs. The event has successfully concluded, with more than 400 participants.
• ONTO hosted a campaign with AcryptoS. Participants who complete related tasks had the opportunity to earn rewards. The event has successfully concluded, with more than 300 participants.
• ONTO hosted a NFT Giveaway campaign with HashLand. Participants who complete tasks such as downloading the ONTO App had the opportunity to earn special NFTs. The event has successfully concluded, with more than 400 participants.

On-Chain Activity

• 122 total dApps on MainNet as of December 20th, 2021.
• 6,838,307 total dApp-related transactions on MainNet, an increase of 3,014 from last week.
• 16,853,206 total transactions on MainNet, an increase of 25,525 from last week.

Community Growth

• We held our weekly Discord Community Call, led by Ontology Harbinger Polaris. He focused on “what is trust?”. Since there is no authority to guarantee trust in Web3, we need to re-define it. We believe that a “Trustless” decentralized network should be able to protect the privacy of users through DID, and achieve anonymous and secure interactions by integrating the reputation system on the chain.
• We held our DeID Summit, led by Humpty Calderon, our Head of Community. He invited bloXmove CEO Sophia Roediger and CTO Harry Behrens to discuss the application of DID technology in the field of mobile travel. The fragmentation of the urban transport industry means there is a great need to fortify user security and data through decentralized technologies. By integrating Ontology’s DID and data solutions, the whole ecosystem of bloXmove will be made more private, more secure, and will be easier to navigate.
• We held our Telegram weekly Community Call, led by Benny, an Ontology Harbinger from our Asian community. He discussed with community members about Ontology’s 4th anniversary NFT event, the development of the Internet, the development goals of Web3, and the role of Ontology in the construction of Web3. Community members expressed their opinions enthusiastically.
• As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.

Ontology in the Media

Forbes — 《How Decentralized Identity Is Reshaping Privacy For Digital Identities》

“More and more, our lives require verification of our identities: buying a car, applying for a mortgage or signing up for a new service. Yet, the current systems for authenticating users and establishing trust online are inconvenient for users and onerous for business. More importantly, the current approach forces users to surrender their privacy, while the security and trust of online transactions barely clear the bar of “good enough.”

In the face of the advent of decentralized networks, redefining trust and reshaping the network system is a top priority. The decentralized identity solution launched by Ontology is a key part of this: Users can use DID for one-click login. Secret key authorization meets the needs of privacy protection, and simplifies the process of login authentication and authorization. The reputation system protects user information while giving users trust in anonymity.