Ethereum Updates Today: Ontology's v3.0.0 Release Fuels an Eight-Year Journey Toward a Lasting Web3 Ecosystem

Ontology Unveils MainNet v3.0.0: A Major Leap Toward Decentralized Web3

Ontology, a leading provider of blockchain infrastructure, has rolled out its MainNet v3.0.0 upgrade, representing a significant milestone in its eight-year pursuit of a decentralized, identity-centric Web3 environment. Founder Li Jun announced that this latest update brings substantial revisions to Ontology’s token structure, network efficiency, and governance framework, all designed to promote long-term viability and enhance user benefits.

Revamped Token Model and Economic Adjustments

The v3.0.0 release introduces notable improvements to Ontology’s dual-token system, ONT and ONG. The overall supply of ONG has been trimmed from 1 billion to 800 million, with 100 million tokens permanently locked to help control inflation and maintain price stability. Furthermore, the distribution of newly generated ONG has shifted: 80% now goes to ONT stakers, while the remaining 20% is allocated to liquidity provision and ecosystem development. This new approach aims to balance rewards for network security with incentives for growth, reflecting a broader movement in the blockchain sector toward sustainable economic models.

Enhanced Network Performance and Identity Integration

Performance upgrades in this version include improved consensus mechanisms, advanced gas management, and support for Ethereum’s EIP-7702 standard. These enhancements are expected to increase transaction speeds, lower latency, and facilitate smoother integration with Ethereum-based platforms. Additionally, the direct incorporation of ONT ID into the EVM environment enables new decentralized identity applications across DeFi, gaming, and social networks, addressing key challenges in cross-chain identity solutions.

Strengthened Governance Through Community Participation

Ontology has reinforced its commitment to decentralized governance by ensuring all changes to tokenomics were approved via on-chain voting. The proposal regarding ONG’s new economic model received over 117 million votes in favor, highlighting strong community support for the platform’s direction. Li Jun noted that these developments underscore Ontology’s vision of becoming a “community-governed infrastructure layer” for the Web3 era.

Product Innovations and Privacy Enhancements

Among the new features, Ontology plans to introduce an encrypted instant messaging service later this year, utilizing zero-knowledge proofs and decentralized identity to safeguard user privacy. The ONTO Wallet has also been updated, offering enhanced identity management and payment options. Meanwhile, the Orange Protocol’s zkTLS framework pushes forward privacy-focused reputation systems. These advancements are intended to bridge blockchain technology with practical, real-world uses, especially in secure communication and identity verification.

Anniversary Initiatives and Community Engagement

The MainNet upgrade coincides with Ontology’s eighth anniversary celebrations, featuring the “Your Story” campaign that rewards users for sharing their experiences. Additionally, a node campaign encourages community members to participate in network security and governance. These initiatives demonstrate Ontology’s dedication to cultivating a dynamic ecosystem through active community involvement and developer support.