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Ontology Weekly Report (October 18–24, 2022)


Li Jun, Founder of Ontology, was interviewed by the well-known media outlet Crowdfund Insider to share his views on the Ethereum Merge Performance Enhancements and Ethereum user experience change.  

Latest Developments

Development Progress

  • We are 100% done with the Rollup VM design. The White Paper will be published soon.
  • We are 99% done with the Rollup RISCV EVM actuator.
  • We are 91% done with the Rollup L1<->L2 cross-layer communication.
  • We are 92% done with the Rollup L1<->L2 Token Bridge.
  • We are 99% done with the L1 data synchronization server.
  • We are 96% done with the L2 Rollup Node.
  • We are 72% done with the L2 blockchain browser.  

Product Development

  • ONTO published its September Monthly Report, summarizing a series of functional optimizations, various exciting activities and cooperations, as well as the progress of its global ecosystem growth.
  • ONTO and Vision cooperated to hold a Quiz Campaign; ONTO was invited to participate in Caduceus Twitter Spaces to share the security function of ONTO and answer questions from users. Follow the @ONTO Wallet Official Announcement in Telegram for more details and the latest information!  

On-Chain Activity

  • 157 total dApps on MainNet as of October 24th, 2022.
  • 7,186,310 total dApp-related transactions on MainNet, an increase of 3,590 from last week.
  • 18,020,818 total transactions on MainNet, an increase of 9,248 from last week.  

Community Growth

  • We held our Weekly Community Call, focusing on “The Humanized Web3 Community”. Community members discussed various benefits granted by our Web3 community and “how to enhance the initiative of people” together.
  • We held our Telegram weekly Community Discussion led by Ontology Loyal Members, discussing the NFTfi. In addition to collecting and circulation, NFT can expand its value to DeFi through “trust”, DID and Web3 credit system can be a key means to building decentralized trust.
  • As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.  

Global News

Ontology in the Media

Crowdfund Insider -Founder of Ontology Says Ethereum Merge Performance Enhancements May Take A Few Years to Become Apparent

“First of all, the expected ‘Sharding brings network expansion’ is not the main feature of the current merger, so the new generation of public chains is still competitive. Second, we have always been and firmly believe that the future Web3 field will be subdivided by scenarios, and each field will have a corresponding public chain matching with it. For example, Ontology provides OWN Infrastructure services based on decentralized identity and reputation systems.”