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Ontology completes EVM integration and simultaneously launches a $10 million fund to support Web3 application deployment

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It will provide seamless interoperability to many new mainstream developers and allow them to build applications in the Ontology ecosystem with lower fees and faster block generation.

Original source: Ontology

Original author: Ontology Jun, Ontology

Today, we are pleased to announce the completion of the Ontology platform The integration of the Ethereum Virtual Machine (EVM) has become the public chain platform that supports the largest number of virtual machines. At the same time, the $10 million EVM fund was simultaneously launched for global developers, and will continue to empower the Ontology blockchain platform, global developers and even the entire Web3 ecosystem.

The basic functions of the Ontology chain are even more powerful

After careful research, intensive development and multiple tests, this time EVM integration brings a huge leap forward in Ontology chain compatibility. Since then, Ontology has supported NeoVM, WasmVM and EVM. It is the public chain platform that supports the most virtual machines in the world, and the level of interoperability on the chain has reached the forefront of the industry.

On the other hand, the Ontology chain will fully add the Ethereum account system, Ethereum transaction types and Web3 API, which means that Ontology’s native digital assets do not require additional development , which can be sent directly to EVM for circulation on dApps, realizing the seamless connection and deep integration of Ontology and Ethereum ecology.

Multiple Leading Edges Empower Developers

Integrating EVM is of great benefit to developers. Developers can smoothly migrate applications deployed in Ethereum or other EVM ecosystems to the Ontology chain at a lower cost without wasting extra time and effort.

Because Ontology EVM uses ONG as the transaction fee on the chain, each interaction on the chain only consumes a small amount of ONG, so after the migration is completed, developers can enjoy lower The handling fee is lower, the block generation speed is faster, and the overall operating efficiency can be greatly improved.

Smooth access to the decentralized identity system

Under the background of Web3, as users enter the next generation The Internet, decentralized identity solutions, and privacy-preserving technologies are increasingly important to cybersecurity. Ontology has been deeply involved in decentralized digital identity technology since its inception. Therefore, after integrating EVM, Ethereum application developers can also directly use Ontology's decentralized identity and data protocol to quickly build applications and achieve breakthrough innovations.

Millions of user traffic reach and conversion

After this integration, the technical construction based on the ontology chain Developers can directly use the decentralized data client ONTO Wallet (onto.app), which already has 800,000 global users, as an application portal to effectively connect with the Web3 network environment. At the same time, it is also possible to use the ONT ID (ont.id) with more than 1.5 million users as the account system of the application to provide its users with safe and credible identity services and fully protect privacy and security.

The EVM Fund vigorously promotes the ecology

To celebrate the integration of this EVM, encourage more Many developers have deployed related applications on the Ontology EVM. The Ontology Foundation announced that it will set up a special EVM fund with a total of 10 million US dollars to support developers to build Web3 and metaverse-related decentralized applications based on the Ontology platform. Projects participating in the fund plan will also receive technical, market and business support from Ontology, and even further support these ecological projects in the form of investment incubation.

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For this major technical upgrade, Ontology founder Li Jun said, "When we enter the Web3 era, we will have the opportunity to create a safer, fairer and more decentralized Internet of Things.Given Ethereum’s broad support for smart contract creation and decentralized application development, especially its leadership in the DeFi field and its large number of world-class development teams on it, connecting the Ethereum network is bound to be Ontology’s Key strategy. By integrating EVM, Ontology will increase its interoperability across chains. With the establishment of the EVM Fund, our DID and data solutions will be able to be used by mainstream development teams based on EVM ecological development. Ontology EVM The establishment of the fund is precisely to contribute to Ontology’s own efforts in creating a decentralized, secure and fully interoperable metaverse. Therefore, the fund will focus on metaverse and Web3-related projects.”< /p>

Ontology Chief Scientist Dr. Kendall MAO believes: "Since the development was completed in June last year, Ontology EVM has undergone rigorous review and testing to ensure that developers can Experience a seamless, secure integration. Last September, we opened our EVM-compatible public beta to developers around the world, and launched a bug bounty program in partnership with renowned security experts SlowMist. Now fully audited, Ontology officially integrates EVM, providing seamless interoperability for many new mainstream developers, and allowing them to build applications in the Ontology ecosystem with lower fees and faster block generation.”