Ontology Weekly Report (February 1–6, 2023)
3 min readFeb 9, 2023
Highlights
Erick Pinos, Ontology’s Americas Ecosystem Lead, spoke to Ontology and shared some of his insights about Ontology’s development.
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 17% done with the optimisation of EVM Bloom Bit Index.
- We are 17% done with the optimisation of Ledger memory usage.
Product Development
- ONTO has partnered with iZUMi Finance, a multi-chain DeFi protocol providing one-stop Liquidity as a Service (LaaS) .
On-Chain Activity
- 160 total dApps on MainNet as of February 6th, 2022.
- 7,307,793 total dApp-related transactions on MainNet, an increase of 14,116 from last week.
- 18,290,391 total transactions on MainNet, an increase of 26,568 from last week.
Community Growth
- We held our Weekly Community Call with the theme of “What is Web3?”. The Web3 revolution is bringing rapid change. How has Web1.0, 2.0 and 3.0 evolved? What are the differences between them? What do these changes mean for normal users? As a participant, how do you get involved in Web3? Users expressed their insights around these questions and actively engaged.
- We held our Telegram weekly Community Discussion led by Ontology Loyal Members, discussing “The notable events of Crypto that happened during 2022”. This included M2E, Luna Collapse, Nomad Bridge Hack, FTX and so on. 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 MainNet. Get a chance to learn what “MainNet” means.
In the Media
Cointelegraph — Exploring the possibilities of a Web3 telecom: A look into the future
The Web3 space is rapidly taking over the crypto world, and it could soon become part of the traditional telecom industry as well. According to the latest DappRadar industry report, Web3 platforms and blockchain-based applications attracted more unique active wallets in 2022, which skyrocketed to 2.37 million from 1.58 million in 2021.
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