HomeCoinsOntology (ONT)Ontology Weekly Report (November 1–8, 2021) | by The Ontology Team |...

Ontology Weekly Report (November 1–8, 2021) | by The Ontology Team | OntologyNetwork | Nov, 2021

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The Ontology Team
Ontology Weekly Report (November 1–8, 2021) | by The Ontology Team | OntologyNetwork | Nov, 2021

Recently, Ontology announced that it has further deepened its cooperation with ROCKI, a next-generation music streaming service and music NFT platform built on Binance Smart Chain. Ontology provides ROCKI with a decentralized identity-based batch verification solution. ONT TAG ensures ROCKI users’ data remains secure and artists are rewarded for the work they produce.

Development Progress

  • We have completed the launch of Ontology’s EVM TestNet and are 86% done with testing. At the same time, a large number of community developers are actively participating in the “Security Vulnerabilities and Threat Intelligence Bounty Program”, launched by Ontology and SlowMist.

Product Development

  • ONTO App v4.1.0 was released, adding a list display of NFTs on multiple chains and supporting NFTs on Ethereum, Ontology, BSC and Polygon.
  • ONTO hosted a campaign with O3 Swap. The first 300 users who use ONTO to participate received rewards. All participants who met the conditions had the opportunity to participate in the lottery. The event successfully concluded, with about 1,000 participants.

On-Chain Activity

  • 121 total dApps on MainNet as of November 8th, 2021.

Community Growth

  • 2,722 new members joined our global community this week. The newly launched community activities have attracted a large number of new members to join us.

Global News

  • Ontology, Nervos and QuarkChain jointly organized the “EVM Autumn Concerto’’ blockchain technology seminar. Ontology Technical Director, Ning Hu, shared Ontology’s research on VM technology and the possibility of future development in the field of VM. Blockchain technology experts discussed the development and future of EVM together.

CoinDesk — Why US Policymakers Should Embrace Web 3

Big tech has been embroiled in an unending series of controversies over the past decade, ranging from poor stewardship of consumer data and privacy breaches to disinformation and algorithmic bias. But these platforms are now being disrupted and disintermediated by Web3. For instance, decentralization has opened up the possibility of a world in which people can own their data and grant applications permission to use it on a limited basis, rather than having that data littered across hundreds of centralized databases.

When people talk about Web3, it is often difficult to circumvent a puzzle: how to protect their own identity and privacy data while also being connected with the real world? In order to solve this confusion and to prepare people for the Web3 explosion, Ontology proposed the decentralized digital identity (DID) solution, ONT ID. ONT ID is a decentralized identity framework based on the W3C commendations for decentralized identifiers and verifiable credentials, using blockchain and cryptographic technology, that can quickly identify and connect people, data, and services. It is decentralized, self-sovereign, privacy-preserving, and easy to use, enabling users to fully control their own data and identities.



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