Ontology Weekly Report (February 7–13, 2023)

Highlights

Ontology’s Philippines Harbinger Alvin Abalos was interviewed by Ontology, and shared some of his insights about the development of Ontology.

Latest Developments

Development Progress

• We are 100% done with the Rollup VM design. The White Paper will be published soon.
• We are 98% done with the Rollup L1<->L2 cross-layer communication.
• We are 98% done with the Rollup L1<->L2 Token Bridge.
• We are 99% done with the L1 data synchronization server.
• We are 92% done with the L2 blockchain browser.
• We are 18% done with the optimisation of EVM Bloom Bit Index.
• We are 18% done with the optimisation of Ledger memory usage.
• We are 5% done with the optimisation of ONT staking liquidity.

Product Development

• ONTO has partnered with MetisDAO, holding an exciting Hold2Earn campaign.
• ONTO has partnered with PlatON, holding a Giveaway campaign.

On-Chain Activity

• 160 total dApps on MainNet as of February 13th, 2022.
• 7,326,537 total dApp-related transactions on MainNet, an increase of 18,744 from last week.
• 18,325,309 total transactions on MainNet, an increase of 34,918 from last week.

Community Growth

• We continued our Weekly Community Call with the theme of “What is Web3? Part III”. Besides the definitions of Web3, Ontology contributors also shared their thoughts on how physical and social identities could be translated into the Web3 ecosystem. Users expressed their insights around these and actively engaged.
• We held our Telegram weekly Community Discussion led by Ontology Loyal Members, discussing how decentralized identity runs as the underlying infrastructure in the VR & AR world. 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

• Ontology published the latest #OWN101, introducing the TestNet. Get a chance to learn what is “TestNet”.

In the Media

Silicon Republic - Time for a reality check: Decentralised identities in AR and VR

Excitement about the immersive, mixed medium capabilities of augmented and virtual realities should be tempered with concern about the potential data and privacy risks of the technology, cautions blockchain expert Li Jun.

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