Several people working in the Web3 sector viewed 2022 as a year of learning. The things that were learned help people become more resilient and inspire everyone to place a greater emphasis on safety and reliability. In spite of the difficulties, there is one thing that can be said for certain: the Web3 industry is still vibrant and prepared to develop the subsequent version of the Web. The framework for Web3 that certain initiatives continue to develop requires is something that they have earned.
It requires optimization to a greater degree than it was before and is designed in such a way as to particularly encourage increased adoption. Due to the fact that it is easily accessible and user-friendly for development teams, Ontology is in an excellent position to play a significant role in the expansion of the Web3 infrastructure and ecosystem. To achieve this, Ontology has revealed its ambitious roadmap for 2023 that aims to advance the Web3 industry.
Ontology’s Commitments to the 2023 Roadmap
As is customary, Ontology’s underlying technology is always being improved in order to make it simpler for developers to get their work done and to offer users an experience that has been thoroughly perfected. In addition to that, the comprehensive decentralized identity (DID) framework that ONT ID has will be marketed to a growing network of builders and collaborators.
In order to achieve this objective, the Ontology EVM Fund will be enhanced to the extent of $10 million dollars, and a renewed commitment to integrating the subsequent generation of historically significant Web3 applications will be made. Ontology has made the following commitments for the subsequent phase of the roadmap:
1. Optimization of Ontology Technology
Firstly, Ontology’s MainNet performance, including memory utilization, storage costs, and execution performance, will be continuously optimized. Ontology will also optimize the Node and user staking function/user interface in order to improve the user staking experience. In addition, the Ontology EVM Web3 interface will be enhanced to boost development effectiveness and lower EVM project access costs.
Moreover, Ontology will streamline technical documents and third-party documents to increase development productivity and decrease developer learning expenses, thereby making it more developer-friendly. In addition, Ontology aims to keep a focus on Layer 2 by monitoring the development of associated technologies, advancing the research and development of the implementation and usability of Layer 2 and related ecosystem tools, and working towards system integration with Layer 2 projects.
Additionally, the platform intends to concentrate on security by intensifying research on cryptographic innovations such as zero-knowledge proof, particularly the coupling of zero-knowledge proof and decentralized identity and data. Last but not least, Ontology will actively iterate various OWN Infrastructure capabilities to adapt to the ever-changing Web3 infrastructure requirements.
2. Exploration of Additional DID Use Cases
Ontology was able to see a relatively complete and comprehensive ONT ID and data framework as a result of the ongoing efforts that were put into developing the decentralized identity framework. Some of the products that make up this framework are ONT Login, ONT Tag, Mercury, and OScore. There are currently applications driven by Ontology in many different industries, including automotive, music, payments, and more.
In the year 2023, Ontology will make a concerted effort to promote decentralized identities and data and will keep looking into more use cases. Ontology will deliver value-added services for a wider variety of projects, allowing for more integration of decentralized identity, data, and reputation management, as well as increased protection for user privacy and data.
3. Development of the Ontology Ecosystem
The release of the upgraded $10 million Ontology EVM Fund will be dedicated to streamlining the onboarding process, which will make it easier for developers to build on the Ontology EVM. At the same time, Ontology will keep developing and strengthening the ecosystem advancement of its underlying blockchain and OWN infrastructure.
A Significant Step Ahead for the Web3 Industry
The Ontology blockchain is a fast, affordable public blockchain that offers Web3 users decentralized identity and data solutions. Ontology is designed to provide consumers and businesses the flexibility to develop blockchain-based solutions that are tailored to their specific requirements, with the end goal of improving privacy, transparency, and trust.
Developers are capable of migrating conveniently across other EVM-based ecosystems such as Ethereum, BNB Chain, and Polygon using Ontology’s Ethereum Virtual Machine (EVM). They are also able to seamlessly build applications while taking advantage of Ontology’s low gas fees, fast block production, and decentralized identity and data toolkits. With the unveiling of Ontology’s roadmap for 2023, the platform has made a significant step ahead in the Web3 industry.
