Ontology, a blockchain platform focused on high-performance Web3 infrastructure, has released its monthly report for February 2023. The report covers Ontology’s Roadmap 2023, progress on its Web3 infrastructure and products, on-chain activity, and community growth.
Ontology’s February report outlines the platform’s latest infrastructure and product updates. It also details recent activity and plans for the coming period.
Significant Development Progress
Ontology has completed 100% of the Rollup VM design, L1<->L2 cross-layer communication, L1<->L2 Token Bridge, L1 data synchronization server, and L2 Rollup Node. The team has completed 93% of the L2 blockchain browser, 20% of the EVM bloom bit index optimization, and 20% of the high ledger memory usage optimization.
Ontology is also optimizing ONT staking liquidity and L2 Sequencer Service. Progress on these projects stands at 7% and 5%, respectively.
Ontology’s Product Development
Ontology’s ONTO Wallet has been updated to v4.4.7. It now integrates SUI (devnet), Neon (devnet), and Findora chains.
The team also optimized the “Address Book” function, improved the process for adding new addresses, and added support for selecting recent transaction addresses. ONTO also joined an AMA Twitter Space with Nuls.
Ontology’s collaboration with KuCoin marked a significant event for the platform. ONTO also partnered with PlatOn to give users another chance to join a giveaway and share $2000 USDT.
ONTO partnered with Metis to host a Hold2Earn event. The rewards included $1,000 USDC + 50 ONTO Pass Cards. It also partnered with PMG to hold an airdrop offering $1000 USDC + 10 ONTO Pass Cards.
Increasing On-Chain Activity
Ontology’s MainNet had 160 total decentralized applications (dApps) as of February 28th, 2023. Total dApp-related transactions on MainNet increased by 73,788 from the previous month, reaching 7,367,465 transactions.
Total transactions on MainNet increased by 126,228 from the previous month, reaching 18,390,050 transactions.
Ontology’s Community Growth & Bounties
Ontology community members took part in community calls and discussions on Discord, Telegram, and Twitter. Topics included “How Decentralized Identity facilitates VR & AR?”, “How Tiktok benefits non-crypto users?”, “What is Web3?”, and “The notable events of Crypto that happened during 2022”.
Community members shared their views, and participants had the chance to win Loyal Member NFTs. Ontology Harbinger Benny also led the Ontology Monthly Quiz. Community members asked questions and shared 100 ONG rewards.
Growing the Ontology Team
Ontology is expanding its team and is currently looking for ambitious and hardworking individuals to fill open roles. The team recently hired a senior director of operation and is now seeking a Technical Director, Senior Front-End Engineer, Golang Developer, and BD Director.
Major Developments for ONT
Ontology reported progress in several areas during the month. Users can now trade ONT with access to Ontology’s social metrics on LunarCrush.
ChangeNow now lets users buy or sell ONT with a credit card. In a recent interview with John Larkin at Automotive Industries, Li Jun discussed how Web3 and DID can transform the motoring experience.
Users can also use ONT in the UQUID shop to buy physical and digital products. Both ONT & ONG are now live on #Guardarian, allowing users to purchase #tokens with their local currency.
Ontology has also collaborated with Blockchain Reporter, bringing extra exposure and value to Ontology ecosystem development updates and news.
The Way Forward
In conclusion, Ontology‘s February 2023 monthly report details the platform’s development work, on-chain activity, and community engagement. The report also shows the platform’s continued work on its Web3 infrastructure and product offerings.
Ontology plans to continue optimizing its Web3 infrastructure and expanding its products in 2023. The report outlines the platform’s ongoing development and activity across its blockchain, products, and community.
