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Ontology Weekly Report (June 14–20, 2022)

Li Jun, founder of Ontology, published “Technology and System — Which is the primary productive force?”, discussing the development factors of Web3 from the aspects of “technology” and “system”, as well as the problems and solutions in practice.

Latest Developments

Development Progress

  • We are 100% done with the Rollup VM design, the White Paper will be published soon.
  • We are 100% done with the Ontology EVM that supports the filter function.
  • We are 80% done with the RISCV instruction set contract implementation.
  • We are 80% done with the Rollup RISCV EVM actuator.
  • We are 85% done with the Rollup L1<->L2 cross-layer communication design.
  • We are 20% done with the Rollup L1<->L2 Token Bridge.
  • We are 40% done with the L1 data synchronization server.
  • We are 30% done with the L2 Rollup Node.

Product Development

  • ONTO App v4.3.0 brought support for the zkSync chain, Optimism chain and asset swap on Polygon.
  • ONTO integrated the automated Web3 protocol TARS Protocol, providing trusted on-chain solutions for investment relationships.
  • ONTO has published the May monthly report, summarizing a series of functional optimizations, various exciting activities and cooperation, as well as the progress of global ecological construction.
  • ONTO hosted various online activities with CLV, Ivy Market, NEAR Protocol, Sealem, Eternity Halo, Antmons and Alpha Quark. Earn rewards by participating with ONTO. Follow the @ONTO Wallet Official Announcement on Telegram for more details.

On-Chain Activity

  • 136 total dApps on MainNet as of June 20th, 2022.
  • 7,057,733 total dApp-related transactions on MainNet, an increase of 15,048 from last week.
  • 17,641,695 total transactions on MainNet, an increase of 66,426 from last week.

Community Growth

  • We held our weekly Discord Community Call with the theme “OWN Infrastructure”. Having recently launched the OWN Infrastructure template for the building of Web3, community members discussed the possible development direction of Web3 facilities and related issues such as compliance.
  • We held our Telegram weekly Community Discussion led by Benny, an Asian community Harbinger. He invited two Loyal members to share the latest development of Ontology, discussed topics “How OWN realizes scenario-based trust collaboration from multiple aspects” and “How to achieve sustainable community development”.
  • As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.

Global News

  • “Technology and System — Which is the primary productive force?”, the first edition of OWN Insights from Ontology Founder Li Jun was published on Odaily, a well-known blockchain media platform. He is more willing to define Web3 as a comprehensive product of technology and systems, the concept of Web3 also arouses people’s hope, love and vision from the two aspects of technology and system.
  • The Ontology Grant Hackathon with DoraHacks Applicant Demo showcase is in progress, the projects will showcase their applications and operation Demos to global users, join to share your opinions or ask questions about DID and user data security are all welcomed!

Ontology in the Media

MarTech Series — “Decentralized Identity Solutions Are Key To Web3 Advancement”

“Over a number of years we have witnessed incredible growth across the web with regards to privacy and data ownership. We must ensure that security is at the forefront of innovation as security holds the power to create an efficient and reliable ecosystem, without which, Web3 will falter.” Blockchain transactions are both transparent and immutable. With this in mind, decentralized identity (DID) solutions can ensure every effort is employed to uphold the integrity of users’ data, providing new safeguards for users. DID solutions can verify identities, authenticate traceability, validate digital assets, and in turn increase the overall security of the internet. Through DID applications, users can successfully manage their own digital identities, where they can log in securely to different systems without exposing their private information.