Ontology Weekly Report (August 9–15, 2022)

Highlights

The latest installment of OWNInsights has been published, written by Humpty Calderon, our Head of Community, as he talks about, “DAOs Being The Next Unlock in Web3”.

Latest Developments

Development Progress

• We are 98% done with the Rollup RISCV EVM actuator.
• We are 70% done with the Rollup L1<->L2 cross-layer communication.
• We are 79% done with the Rollup L1<->L2 Token Bridge.
• We are 95% done with the L1 data synchronization server.
• We are 85% done with the L2 Rollup Node.
• We are 40% done with the L2 blockchain browser.

Product Development

• 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 “dApp Week” campaign, come and join to share 2,000 ONG+1,000 USDT ONTO Red Packets!
• ONTO hosted various online activities such as the free giveaway campaign with MetaForest Game and Vision. Participating in ONTO will earn Token, NFT rewards. Follow the @ONTO Wallet Official Announcement in Telegram for more details!

On-Chain Activity

• 154 total dApps on MainNet as of August 15th, 2022.
• 7,135,801 total dApp-related transactions on MainNet, an increase of 5,459 from last week.
• 17,867,094 total transactions on MainNet, an increase of 19,792 from last week.

Community Growth

• We held our weekly Community Call, discussing 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.
• We held our Telegram weekly Community Discussion led by Benny, an Asian community Harbinger. He discussed with community members how to effectively participate in the ecological governance of Ontology nodes, introducing the stability and high returns as well, come and join us now!
• As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.

Global News

• 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.

Ontology in the Media

VentureBeat — Decentralized identity may be critical for the success of Web3

The possibilities for Web3 are endless. The convergence of the physical world and Web3 would create an immersive virtual-reality experience supported by decentralized identity. Decentralized identities could make our digital and physical world much safer and more convenient, providing an immersive space for all, free from the negative externalities presented by big tech giants.

DIGIT — ‘Crypto Winter’ Offers a Chance to Refresh Global Ecosystem

Despite the challenges presented by this crypto winter, Humpty Calderon, Head of Community at Ontology, holds an optimistic outlook on the future of the global crypto community. This period, he believes, offers a chance for the global community to reflect, refresh and draw upon the resilience it has cultivated during the previous bull market.