Ontology Marks Five Years Since Its MainNet Debut: A Glimpse Into Year 5

Welcome, Ontology community! As we approach the half-way point of 2023, it’s time to celebrate the 5th anniversary of the MainNet launch, and reflect on the progress we’ve made so far and the exciting developments that await us in the remainder of the year.

Recent Developments

Over the past year we have made significant strides in our roadmap, and have been relentless in our pursuit of removing barriers and creating a more open and accessible Web3 experience for developers and users alike. We are proud to highlight some of our notable achievements:

• Fostering Collaboration: Through the incubation of Goshen Network, a layer 2 Optimistic roll-up, we have brought Ontology and Ethereum developers closer together. This collaboration breaks down silos, promotes interoperability, and expands the possibilities for decentralized applications, unlocking new frontiers in Web3 innovation.
• Empowering Stakers: We have made significant enhancements to our staking ecosystem, focusing on clarity, ease of use, and increased accessibility. Our efforts have resulted in a revamped user experience that simplifies the staking process, empowering users to actively participate in securing the network and earn rewards. Additionally, our ongoing development of liquid staking (stONT) provides flexibility and liquidity, allowing users to maximize the potential of their staked ONT tokens.
• Optimizing Performance: With a commitment to continuous improvement, we have achieved remarkable milestones in optimizing Ontology’s infrastructure. The completion of ONT staking optimization ensures a seamless and efficient staking experience for all participants. Our ongoing efforts in high ledger memory usage optimization and EVM bloom bit index optimization are aimed at enhancing performance, scalability, and overall network efficiency, further solidifying our commitment to providing an open and high-performing Web3 environment.

Partnerships and Collaborations

Ontology’s commitment to empowering users and developers in the world of decentralized technologies is evident through our strategic partnerships and collaborations. These initiatives open up new possibilities and enhance the Ontology ecosystem in various ways.

• iZUMi Finance: Ontology has joined forces with iZUMi Finance, a DeFi protocol providing a decentralized exchange for the Ontology EVM. This collaboration aims to facilitate the seamless swap of ONG to ONT, simplifying the user experience within the decentralized exchange. By working together, Ontology and iZUMi Finance are empowering users to navigate the world of decentralized finance and unlock new opportunities.
• Alchemy Pay: To further enhance accessibility and usability, Ontology has partnered with Alchemy Pay, a leading crypto payment gateway. This collaboration offers convenient on-ramp solutions, as well as allowing users to seamlessly convert their digital assets into real-world purchases. By integrating Alchemy Pay’s payment infrastructure, Ontology users can enjoy frictionless transactions and expand the utility of their cryptocurrencies across a diverse range of merchants.
• ONTO Wallet: Serving as the gateway to owning and controlling your decentralized identity (DID), ONTO Wallet allows users to securely manage their digital identities across multiple platforms. With ONTO Wallet, individuals have full control over their personal data and can seamlessly interact with decentralized applications. It acts as a key component in realizing the vision of self-sovereign identity, putting users in charge of their digital presence.
• Orange Protocol: Building on top of the robust foundation provided by ONT ID, Orange Protocol takes decentralized identity a step further by introducing cross-chain reputation management. By leveraging the capabilities of ONT ID, Orange Protocol enables the establishment and verification of reputations across different blockchain networks. This breakthrough collaboration brings greater trust and transparency to the decentralized ecosystem, fostering a reliable environment for users and businesses alike.

These partnerships exemplify Ontology’s dedication to removing barriers for developers and users, making Web3 a more open and inclusive experience. By combining the power of ONTO Wallet, Orange Protocol, collaborations with industry leaders like Alchemy Pay, and the integration with iZUMi Finance, we are driving the adoption of decentralized technologies and paving the way for a decentralized future.

We also continue to encourage the development of partnerships via the OntologyEVM Development Fund. This fund provides vital support and resources to developers building on the Ontology EVM, ensuring the availability of cutting-edge tools, documentation, and technical assistance. By nurturing the development of EVM-based projects, we aim to foster innovation, expand interoperability, and drive the advancement of Web3.

Ontology Community Growth

We take pride in our growing and vibrant community. The MainNet now hosts 164 total dApps, and the total number of dApp-related transactions on MainNet broke 7.6 million. Our community engagement activities include the Weekly Community Call Series and Telegram weekly Community Discussion led by Ontology Loyal Members — a great testament to the unwavering commitment demonstrated by our community.

As we move forward, we remain committed to our vision of a decentralized future where everyone has control over their own data. We are thankful for your continued support and are excited to see what the rest of 2023 holds for Ontology and the broader Web3 industry.

Conclusion

As we celebrate the 5th anniversary of Ontology’s MainNet launch, we reflect on our remarkable progress and the profound impact we have had on the Web3 industry. Over the past year, we have made significant strides in our roadmap, focusing on optimization, decentralized identity, and ecosystem development. Through strategic partnerships and collaborations, such as iZUMi Finance, Alchemy Pay, ONTO Wallet, and Orange Protocol, we have expanded possibilities, enhanced accessibility, and fostered trust in the decentralized ecosystem.

Looking ahead, Ontology remains dedicated to our vision of a decentralized future where individuals have control over their own data. We are committed to removing barriers for developers and users, creating a more open and inclusive Web3 experience. With our ongoing efforts to optimize performance, empower stakers, and foster collaboration, we are shaping the future of Web3 and driving the adoption of decentralized technologies.

We extend our heartfelt gratitude to our growing and vibrant community for their unwavering support. Together, we have achieved significant milestones, and we are excited to see what the future holds for Ontology and the broader Web3 industry. As we embark on the next phase of our journey, we invite you to join us in building a decentralized future where innovation, trust, and empowerment are at the forefront.