High-performance, high-speed blockchain developer Ontology (ONT) released its weekly report, ending May 11, 2021.
Ontology, which develops digital ID solutions and various other distributed ledger technology (DLT) applications, Remarks this SURE and bloXroute announced a partnership to offer ETH front-running protection to wallet users (an initiative to “protect and protect users from market manipulation”).
Ontology’s report also revealed:
- 90% of the design integrated into Ontology EVM “has been completed, which will make Ontology compatible with the Ethereum smart contract ecology.”
- 80% of Layer 2 integration complete, exploring Ethereum Layer 2 integration on Ontology MainNet. “
- ONTO and ApeSwap “are currently carrying out a joint campaign to extract liquidity”.
- Decentralized applications or dApps:
- 115 dApps were “launched on MainNet”.
- 6,579,524 transactions “were closed on MainNet, an increase of 25,362 from last week.”
As reported earlier this month, the founder of Ontology Li Jun explains how blockchain and Self Sovereign ID solutions can protect user privacy online.
“Users clearly want to protect their personal information and place barriers between companies and their data if necessary. So it’s up to tech companies to provide them with the right tools and information to do so. Blockchain can play a major role in putting consumers in the driver’s seat of data privacy, allowing them to control private information on a network that only authorized people can access.
Jun also explained why decentralized finance or DeFi needs a more reliable credit scoring system.
“What the DeFi industry lacks is a credit scoring system that provides a comprehensive picture of an individual’s various crypto assets across different wallets and channels. To build trust and reputation for lending and borrowing through DeFi, we need a system that supports cross-chain interactions and verifiable credentials. By connecting user identities to person accounts, users can link their digital assets and contact addresses, making it easier to perform due diligence. “