July 22nd, 2024 – Coinscribble by Coinbound / Ontology Network, a pioneering blockchain platform, marks its 6th anniversary of MainNet launch with a celebration of milestones and a vision for the future of Web3 and decentralized identity.
Since its inception in June 2018, Ontology’s blockchain has evolved from a system focused on digital identity and data solutions to a comprehensive Web3 infrastructure. Over these six years, Ontology has achieved significant milestones, continually improving its blockchain around staking, governance, access, and user experience. These advancements reflect Ontology’s commitment to innovation and community growth.
A Journey of Innovation and Growth
2018: The Beginning
- June 30, 2018: Ontology’s MainNet version 1.0 was launched, introducing the dual-token system (ONT and ONG) and tools for developers to build decentralized applications (dApps) and smart contracts.
2019: Enhancing Scalability and Interoperability
- June 30, 2019: Ontology introduced sharding technology and launched its cross-chain TestNet, improving scalability and cross-chain compatibility.
2020: Boosting Transaction Efficiency
- June 30, 2020: Ontology MainNet 2.0 was released, integrating layer-2 technology to enhance transaction speed and efficiency.
2021: Expanding Smart Contract Support
- June 30, 2021: The launch of the Ontology Ethereum Virtual Machine (EVM) test network enabled support for multiple smart contract types, making Ontology one of the most versatile public-chain platforms.
2022: Strategic Expansion
- Ontology EVM Fund: Ontology launched a $10 million EVM fund to support global developers. This was followed by a global online hackathon in April 2022, fostering innovation within the Ontology ecosystem.
Recent Milestones and Future Prospects
2023: Scaling and Staking Innovations
- Goshen Network: The incubation of the Optimistic-rollup-based Layer 2 solution further enhanced scalability. Also, the bitcoin L2, providing more intermobility to Ethereum and Bitcoin ecosystems.
- Liquid Staking: Introduction of stONT provided ONT token holders with more flexibility and liquidity in staking.
- More partners join the network as Consensus Nodes: Bwarelabs, StackUp
- TestNet Faucet: Bwarelabs provides its faucets for ONT and ONG test tokens on Ontology and Ontology EVM
- Developer Relations: Ontology and StackUp’s campaign focusing on removing barriers for the developer community
2024 (coming soon): Enhancing Security and User Experience
- Slash Mechanism: Implementation of a slash mechanism for consensus nodes to bolster security and stability.
- Improved Staking Experience: Optimized ONT staking and node operation experience in the ONTO Wallet to make participation more user-friendly.
Celebrating Achievements
Ontology’s blockchain has reached significant network statistics, showcasing its growth and adoption:
- Block Height: 17,649,850
- Total Transactions: 19,479,340
- Unique Addresses: 1,541,273
- ONT ID Registrations: Over 1.6 million
*The figures were calculated on 06/29/24
These metrics reflect Ontology’s active usage for decentralized identity management and data solutions, contributing to its status as a high-performance, secure public blockchain platform.
Looking Ahead
Ontology remains dedicated to building a secure, scalable, and user-friendly Web3 infrastructure. The network aims to continue fostering innovation through strategic partnerships, developer support, and community engagement. As Ontology celebrates its 6th anniversary of MainNet launch, it looks forward to a future where decentralized identity and data solutions are integral to everyday digital interactions.
Join the Celebration
Ontology Network extends its gratitude to the community, developers, and partners who have been part of this incredible journey. Together, we look forward to many more years of innovation and growth in the blockchain space.
Ontology has several exciting campaigns planned for the coming months. These initiatives aim to further involve our community and reward our dedicated supporters. Stay tuned for:
- Staking Incentives: Opportunities for stakers to gain a little extra as a thank you.
- Node Operator Rewards: Will you be a lucky node operator who wins an extra stake to your node?
- Community Events: Sessions to educate and empower users about Web3, decentralized identity, and Ontology’s ecosystem.
Follow Ontology:
Ontology website / ONTO website / OWallet (GitHub)
Twitter / Reddit / Facebook / LinkedIn / YouTube / NaverBlog /Forklog
Telegram Announcement / Telegram English / GitHub / Discord
About Ontology Network: Ontology is a high-performance, open-source blockchain specializing in decentralized identity and data solutions. With its unique dual-token system and comprehensive suite of developer tools, Ontology aims to create a robust and scalable infrastructure for Web3 applications.
