Ontology

Ontology Gas

<p>Ontology, a leading blockchain platform focused on building a high-performance Web3 infrastructure, has released its monthly report for February 2023. The report highlights <a href="https://blockchainreporter.net/ontology-announces-ambitious-roadmap-for-2023/" rel="noopener noreferrer nofollow">Ontology’s Roadmap 2023</a> about the progress in optimizing its Web3 infrastructure and product offerings, as well as on-chain activity and community growth.</p><p>Ontology has been making significant strides toward optimizing its blockchain infrastructure and improving user experience, and the February report provides a detailed overview of the platform’s recent achievements and future plans. Let’s dive into the key highlights of the Ontology monthly report for February 2023.</p><h2 id="header-0">Significant Development Progress</h2><p>The report revealed that Ontology has completed 100% of the Rollup VM design, L1&lt;-&gt;L2 cross-layer communication, L1&lt;-&gt;L2 Token Bridge, L1 data synchronization server, and L2 Rollup Node. The team is currently 93% done with the L2 blockchain browser, 20% done with the EVM bloom bit index optimization, and 20% done with the high ledger memory usage optimization. Additionally, Ontology is working on optimizing ONT staking liquidity and L2 Sequencer Service, with 7% and 5% progress, respectively.</p><h2 id="header-1">Ontology’s Product Development</h2><p>Ontology’s ONTO Wallet has been updated to v4.4.7, integrated SUI (devnet), Neon (devnet), and Findora chains. The team has also optimized the “Address Book” function, improved the feature for adding new addresses, and added support for selecting from recent transaction addresses. ONTO also joined an AMA Twitter Space with <a href="https://twitter.com/ontowallet/status/1626222124607369218" rel="noopener noreferrer nofollow">Nuls</a>.</p><p>Ontology’s collaboration with <a href="https://twitter.com/ontowallet/status/1626563984605282304" rel="noopener noreferrer nofollow">KuCoin</a> marked a significant event for the platform and ONTO also partnered with <a href="https://twitter.com/ontowallet/status/1623985136235683840" rel="noopener noreferrer nofollow">PlatOn</a> to provide users with another opportunity to join a giveaway event and share $2000 USDT. Moreover, ONTO has partnered with <a href="https://twitter.com/ontowallet/status/1623260353567105026" rel="noopener noreferrer nofollow">Metis</a> to host a Hold2Earn event with prizes of $1,000 USDC &#43; 50 ONTO Pass Cards as rewards. Similarly, it partnered with <a href="https://twitter.com/ontowallet/status/1628349711483834368" rel="noopener noreferrer nofollow">PMG</a> to hold an airdrop event, sharing $1000 USDC &#43; 10 ONTO Pass Cards as rewards.</p><h2 id="header-2">Increasing On-Chain Activity</h2><p>Ontology’s MainNet currently has 160 total decentralized applications (dApps) as of February 28th, 2023. The total dApp-related transactions on MainNet have increased by 73,788 from last month, with a total of 7,367,465 transactions. The total transactions on MainNet have increased by 126,228 from last month, with a total of 18,390,050 transactions.</p><h2 id="header-3">Ontology’s Community Growth &amp; Bounties</h2><p>Ontology’s community members have actively participated in several community calls and discussions held on Discord, <a href="https://t.me/OntologyNetwork" rel="noopener noreferrer nofollow">Telegram</a>, and <a href="https://twitter.com/OntologyNetwork" rel="noopener noreferrer nofollow">Twitter</a>. The topics of discussion included “How Decentralized Identity facilitates VR &amp; AR?”, “How Tiktok benefits non-crypto users?”, “What is Web3?”, and “The notable events of Crypto that happened during 2022”.</p><p>The community members of Ontology shared their views, and participants also got the chance to win Loyal Member NFTs. In addition, Ontology’s Monthly Quiz led by Ontology Harbinger Benny was successfully held, and community members actively raised questions and shared 100 ONG rewards.</p><h2 id="header-4">Growing the Ontology Team</h2><p>Ontology is actively looking to expand its team and is currently <a href="https://ont.io/join" rel="noopener noreferrer nofollow">looking</a> for ambitious and hardworking individuals to fill open roles. The team has recently hired a senior director of operation and is now looking for a Technical Director, Senior Front-End Engineer, Golang Developer, and BD Director.</p><h2 id="header-5">Major Developments for ONT</h2><p>Ontology has been making strides in different areas this month. It is now possible to trade ONT with all the benefits of the Ontology social metrics available to you at LunarCrush. ChangeNow now offers the option to buy or sell <a href="https://twitter.com/search?q&#61;%24ONT&amp;src&#61;cashtag_click" rel="noopener noreferrer nofollow">ONT</a> using your credit card, making it easier to keep your portfolio on track. In a recent interview with John Larkin at Automotive Industries, Li Jun discussed how Web3 and DID can transform the motoring experience.</p><p>Additionally, it is now possible to use ONT in the UQUID shop for both physical and digital products and both<a href="https://twitter.com/search?q&#61;%24ONT&amp;src&#61;cashtag_click" rel="noopener noreferrer nofollow"> ONT</a> &amp;<a href="https://twitter.com/search?q&#61;%24ONG&amp;src&#61;cashtag_click" rel="noopener noreferrer nofollow"> ONG</a> are now live on<a href="https://twitter.com/hashtag/Guardarian?src&#61;hashtag_click" rel="noopener noreferrer nofollow"> #Guardarian</a>, enabling users to easily purchase<a href="https://twitter.com/hashtag/tokens?src&#61;hashtag_click" rel="noopener noreferrer nofollow"> #tokens</a>, using their local currency! <a href="https://twitter.com/blockchainrptr/status/1628732916640407555?s&#61;20" rel="noopener noreferrer nofollow">Ontology has also collaborated with Blockchain Reporter</a>, bringing extra exposure and value to the Ontology ecosystem development updates and news!</p><h2 id="header-6">The Way Forward</h2><p>In conclusion, Ontology‘s February 2023 monthly report showcases the platform’s unwavering commitment to driving innovation and growth within the blockchain ecosystem. Ontology’s extensive development progress, on-chain activity, and community engagement demonstrate the platform’s growing relevance and appeal to businesses, developers, and investors alike.</p><p>With its continued focus on optimizing its Web3 infrastructure and expanding its product offerings, Ontology is well-positioned to meet the needs of the rapidly evolving blockchain market. As we move forward in 2023, Ontology’s innovative approach to decentralized technology is sure to make a significant impact in shaping the future of blockchain.</p>

Ontology’s Web3 Infrastructure Progress and Product Development in Focus in February Report

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