HomeCoinsOntology (ONT)Ontology Weekly Report (September 14–19, 2022) | by The Ontology Team |...

Ontology Weekly Report (September 14–19, 2022) | by The Ontology Team | OntologyNetwork | Sep, 2022

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Li Jun, Founder of Ontology, was invited to join the Ethereum Merge Watch Party hosted by Crypto Slate, sharing in-depth insights on the Ethereum Merge and the follow-up development of Web3.

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 RISCV EVM actuator.
  • We are 87% done with the Rollup L1<->L2 cross-layer communication.
  • We are 89% done with the Rollup L1<->L2 Token Bridge.
  • We are 99% done with the L1 data synchronization server.
  • We are 94% done with the L2 Rollup Node.
  • We are 59% done with the L2 blockchain browser.

Product Development

  • ONTO App v4.3.6 brought support for Aptos Blockchain, upgraded WalletConnect features, brought support for filtering dApps by chain type in the Discover section, swapping tokens on Optimism and Arbitrum, and improved UI for the search feature.
  • ONTO hosted a giveaway with Apeiron, 80 Battlepass Limited NFTs up for Grabs! Follow the @ONTO Wallet Official Announcement in Telegram for more details!

On-Chain Activity

  • 154 total dApps on MainNet as of September 19th, 2022.
  • 7,163,286 total dApp-related transactions on MainNet, an increase of 4,209 from last week.
  • 17,953,133 total transactions on MainNet, an increase of 12,688 from last week.

Community Growth

  • We held our weekly Community Call, focusing on “Ethereum Merge”. Community members discussed “What impact will the Ethereum Merge bring to the Web3 landscape” and “How Ontology should deal with this impact”, and talked about the future development of Ontology.
  • We held our Telegram weekly Community Discussion led by Ontology Loyal Members. There were lively discussions on “Why Ethereum Merge”, “Differences After Merge”, and “Benefits of Merge”: Reduced energy consumption and improved network performance.
  • Ontology held the second Twitter Spaces of OWNInsights, invited Ben Yorke and 0xYond from WOO Network and SnapFingers DAO, discussing “The disconnect between a DAO and developers”, “DAOs in the real world”, “Obstacles for DAOs and what are the next big changes that bring adoption”.
  • As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.

Global News

  • Li Jun, Founder of Ontology, was invited to be a guest at the YouTube Watch Party All Day Livestream of the well-known blockchain media Crypto Slate, shared his thoughts on “Why Ethereum converted to PoS”, “Network security after Merge” and “What is the impact to Web3?”.
  • Ontology Head of Community Humpty and Americas Ecosystem Lead Erick were invited to join Twitter Spaces hosted by famous blockchain media Crypto Sapiens, and shared views of “Key Challenges of DID Construction” and “The Composition of Web3 Reputation”.

Cointelegraph –What is decentralized identity in blockchain?

“With a decentralized identity, users can control their own PII and provide only the information that is required to be verified. Decentralized identity management supports an identity trust framework where users, organizations and things interact with each other transparently and securely.”



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