Ontology Weekly Report (June 1–5, 2023)

Highlights

Ontology’s very own Raindy has been featured on HackerNoon! Dive into her excellent piece on the essential role of Web3 for a glimpse into our digital future. Well worth a read for everyone interested in blockchain and its potential!

Latest DevelopmentsDevelopment Progress

● We are 90% done with the high ledger memory usage optimization.

● We are 90% done with the EVM bloom bit index optimization.

● We are 85% done with the optimization of ONT liquid staking.

Product Development

● ONTO launched a giveaway event together with Type!t.

● ONTO collaborated with TABI.

On-Chain Activity

● 164 total dApps on MainNet as of June 5th, 2023.

● 7,581,275 total dApp-related transactions on MainNet, an increase of 15,294 from last week.

● 18,754,891 total transactions on MainNet, an increase of 22,462 from last week.

Community Growth

● We held our Weekly Community Call Series. We talked about the big events and updates on blockchain. Users expressed their insights around this and actively engaged.

● We held our Telegram weekly Community Discussion led by Ontology Loyal Members, discussing:“The Promise of Bitcoin Is About Much More Than Financial Freedom”. Participants got the chance to win Loyal Member NFTs.

● As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.

Global News

● In this week’s OWN101 series, we explore ‘Soft Fork’ — a crucial concept in #blockchain technology. Soft Forks help maintain network consensus within #Web3, without breaking compatibility.

We published the monthly report for May, with progress on EVM optimization, AMA’s with leaders in the space, new partnerships like with iZUMi, OKX Wallet, and our community reaching 30k on CoinMarketCap.