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Ontology Weekly Report (October 11–17, 2022)


Ontology released the first OWN Insights AMA review, focusing on “Four key points of DID implementation” shared by Shrey Jain, a famous Microsoft Web3 Researcher.  

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 90% done with the Rollup L1<->L2 cross-layer communication.
  • We are 91% 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 70% done with the L2 blockchain browser.  

Product Development

  • ONTO App v4.3.9 now supports the Arbitrum Nova Chain, adding Go + security reports, and the red pocket function now supports the IoTeX Chain.
  • ONTO hosted an online Quiz event with FitR and an AMA in the CherrySwap Discord community. 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 17th, 2022.
  • 7,182,720 total dApp-related transactions on MainNet, an increase of 4,476 from last week.
  • 18,011,570 total transactions on MainNet, an increase of 14,145 from last week.  

Community Growth

  • We held our weekly Community Call, focusing on “Ontology Glossary”. The host popularized ontology-related blockchain terms, such as “node”, “smart contract”, and “browser”, to help global members better understand and quickly join the Ontology ecology.
  • We held our Telegram weekly Community Discussion led by Ontology Loyal Members. There were lively discussions on the functions, performance, ecological development and future trends of the encryption tool SNARK based on a16z’s latest article “Measuring SNARK performance: Frontends, backends, and the future”.
  • As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.  

Global News

  • Ontology has reached cooperation with famous Cryptocurrency Exchange, global users can now participate in Ontology staking through FMFW to earn 16% APY.
  • Multi-chain wallet Guarda Wallet now supports Ontology staking in both web and desktop, try a generous 25% staking APY with Ontology on Guarda Wallet now.

Ontology in the Media

Cointelegraph — Web3 is the solution to Uber’ s problem with hackers 

“Uber’s data breach is not anything out of the ordinary — Web2 apps are ubiquitous, ever reaching further into our lives, and many of them, from Facebook to DoorDash, have suffered breaches as well. The more Web2 apps proliferate across the consumer space and beyond, the more often we will get such incidents in the long run.

The only true solution to the problem is also the most radical one — consumer apps should embrace Web3, restructure their data and payment architectures to grant users more security and privacy, and welcome this new era of the internet.”