Ontology Celebrates Four Years Since Its MainNet Launch: A Look Back At Year 4

Providing inclusive trust infrastructure for Web3

June 30th has significant meaning for Ontology.

On June 30, 2018, Ontology MainNet version 1.0 was officially launched;

On June 30, 2019, Ontology sharding and cross-chain TestNet were launched;

On June 30, 2020, Ontology MainNet 2.0, integrating Layer 2 technology;

On June 30, 2021, the Ontology EVM virtual machine test network was launched.

With the support of global developers, contributors, and community members, four years on since the MainNet launch of the Ontology blockchain, we have continued to innovate and remain committed to bringing trust, privacy, and security to Web3 through decentralized identity and data solutions. Let’s look back on year four and see what we have achieved.

Enhancing Trust and Collaboration in Web3 Through the OWN Infrastructure

Web3 is here to revitalize the way in which our entire society operates, ushering in a new era of trust and collaboration Building trust in Web3, and facilitating collaboration based on this trust, is Ontology’s overarching goal.

We recently announced the launch of the OWN (Ontology Web3 Network) Infrastructure, which is a series of general blockchain protocols and products created by Ontology for Web3 applications. This infrastructure includes public chain protocols, Layer2 protocols, Web3 protocols (ONT ID and reputation management) and general-purpose tools (Web3 gateway, ONTO). The OWN Infrastructure provides the blockchain ecosystem with seamless, interoperable decentralized digital identity and data management solutions. Developers can choose the components they need for varied scenarios.

The emergence of the OWN infrastructure allows Web3 developers to quickly build applications without building basic functions from scratch. Individual users can also easily access Web3 applications by using the freely available OWN products. Furthermore, the OWN infrastructure, built around the decentralized identity DID framework, promotes cost-free trust collaboration through the underlying public chain, protocol layer and application layer. This three layered approach enables applications to fully protect their private data and bring users more rights to independently manage data and assets.

EVM Helps to Achieve On-chain Universality and Compatibility

We recently completed the integration of the Ontology EVM, which supports four types of smart contracts, as well as multi-chain and cross-chain collaboration. Supported smart contracts include Native; NeoVM; WasmVM; and EVM. This makes Ontlogy the public chain platform supporting the largest number of development languages ​​and virtual machines, greatly improving the Ontology chain’s compatibility and interoperability with other chains and projects. Through the Ontology Bridge and ONTO Wallet, intercommunication between Ontology and Ethereum digital assets is permitted. Various decentralized applications including Wing Finance, Unifi, and cBridge have also been extended to the Ontology EVM network.

In March, Ontology launched an EVM Fund of US$10 million for global developers and then in April, held a global online hackathon with DoraHacks, the world’s leading developer community. There were both in an effoort to continue to empower the Ontology blockchain platform alongside the entire Web3 ecosystem. At present, a total of 26 projects have participated in this hackathon and applied for incentives, which cover many popular Web3 fields including NFTs, DAOs, and domain names.

ONT ID Upgrades Provide A Better Development Experience

ONT ID is a decentralized identity framework based on the W3C recommendations for decentralized identifiers and verifiable credentials. It can be seamlessly integrated into both Web2 and Web3 applications, saving developers time and money when it comes to identity system development.

ONT ID continues to grow in popularity, with registrations in excess of 1.6 million. In May 2022, the ONT ID Ontology decentralized identity framework was upgraded in order to achieve widespread deployment and seamless access for users. Ontology VC SDK series DID tools are now open source, including two categories of two development languages ​​and a total of four sets of tools, that can save the development cost involved in the implementation of DID. Enhancements have also been made to the ONT ID product suite, including Mercury — a secure, trustless, DID-based peer-to-peer communication protocol — ONT Login — a trustless universal authenticator — and ONT TAG — a trust anchor gateway.

Celebrating Major Milestones in Year Four

Ontology’s Global Community Now Exceeds Over 100,000

The Ontology proof of stake network continues to be popular amongst node operators of all sizes, alongside an enthusiastic staking community. The global Ontology community is an integral part of the Ontology ecosystem, with members now exceeding 100,000. We remain committed to building and developing our global community across a variety of language regions and languages. As of May 2022, the Ontology global community serves users in over 30 languages.

We Opened A New German Office.

In January, we announced the opening of our new European office in Berlin, Germany. This announcement showed our alignment with Europe’s efforts to increase data privacy and protection through legislation, including GDPR. Europe is one of the largest hubs for blockchain related services and Web3 innovation worldwide, with much of the action happening in Berlin, which has seen over $13 billion of investment since 2016. As such, we chose Berlin as a key strategic location where it will aim to expand its reach and capitalize on the incredible talent and resources available. Having a presence in Europe allows Ontology to expand its digital identity solutions, Web3 infrastructure, and decentralized solutions to both users and regulators alike.

Cross-Industry Partnerships

Over the last year, Ontology has partnered with a number of leading organizations across the automotive, music, and consultancy spaces to provide DID technologies, including bloXmove, the decentralized car platform; ROCKI, the music streaming platform; and AP.LLC, the Japanese consulting company.

Attended Multiple Industry Events

Ontology is gradually expanding its global influence and seeking new opportunities through industry events and conferences. From Consensus in the US to its participation in the Wanxiang Blockchain conference, to the SME Finance Forum and Binance Live and TwitterSpaces with Blocklike and Cointelegraph and etc., all have proven to further our overall mission.

The Future of Web3 is Coming, and the Road Ahead Looks Promising

Mainstream awareness of Decentralized Society (DeSoc) has been rapidly growing, and it is beginning to look like an inevitable trend in the development of Web3. With the growth of DeSoc, DID will become a key component for Web3. The combination of DID and other decentralized technologies, as well as related protocols and products, will further build trust and collaboration in a decentralized society. Ontology will continue to provide dApp developers with a platform that can host projects and equip developers with the necessary protocols and tools to remove barriers to accessing Web3, whilst simultaneously providing individual users with data privacy and protection, alongside increased autonomy.

About Ontology

Ontology is a project designed to bring trust, privacy, and security to Web3 through decentralized identity and data solutions. It is building the infrastructure to provide trusted access to Web3, allowing individuals and enterprises to rest assured through regulatory compliant digital identity solutions.

The Ontology blockchain is a high-speed, low-cost public blockchain. It is designed to bring decentralized identity and data solutions to Web3, with the goal of increasing privacy, transparency, and trust. To achieve this, users and enterprises are provided with the flexibility to build blockchain-based solutions that suit their needs, while also ensuring regulatory compliance. Through Ontology’s Ethereum Virtual Machine (EVM), Ontology ensures frictionless compatibility with Ethereum, the first step in creating the Ontology Multi-Virtual Machine and further interoperability for the chain.

Follow us on social media!

Ontology website / ONTO website / OWallet (GitHub)

Twitter / Reddit / Facebook / LinkedIn / YouTube / NaverBlog / Forklog

Telegram Announcement / Telegram English / GitHub / Discord

Ontology Celebrates Four Years Since Its MainNet Launch: A Look Back At Year 4 was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.