Ethereum News Today: Eight-Year Quest for Web3: Ontology's v3.0.0 Upgrade Drives Sustainable Ecosystem

Ontology, a blockchain infrastructure provider, has launched its v3.0.0 MainNet upgrade, marking a pivotal step in its eight-year journey to establish a decentralized, identity-driven Web3 ecosystem. The upgrade, announced by founder Li Jun, introduces significant changes to the platform's token economics, network performance, and governance mechanisms, aiming to enhance long-term sustainability and user utility.

Central to the v3.0.0 upgrade is the refinement of Ontology's dual-token model (ONT and ONG). The total ONG supply has been reduced from 1 billion to 800 million, with 100 million tokens permanently locked to curb inflation and stabilize the asset's value. Additionally, 80% of newly issued ONG will now be allocated to ONT stakers, while 20% will support liquidity and ecosystem expansion. This shift balances incentives for network security with growth-oriented initiatives, aligning with broader industry trends toward economically sustainable blockchain models according to the founder's letter.

Network performance improvements include enhanced consensus protocols, gas management systems, and compatibility with Ethereum's EIP-7702 standard. These updates are designed to boost transaction throughput, reduce latency, and improve interoperability with Ethereum-based applications. The integration of ONT ID directly into the EVM environment further unlocks decentralized identity use cases across DeFi, gaming, and social platforms, addressing a critical gap in cross-chain identity management.

Governance has also been strengthened, with all tokenomics adjustments approved through on-chain voting. Over 117 million votes were cast in favor of the ONG tokenomics proposal, underscoring community alignment with the platform's strategic direction. Li Jun emphasized that these changes reflect Ontology's commitment to decentralized governance, positioning the network as a "community-governed infrastructure layer" for Web3.

Product enhancements include the launch of an encrypted instant messaging solution later this year, leveraging zero-knowledge proofs and decentralized identity to protect user privacy. The ONTO Wallet has also been upgraded with improved identity management and payment functionality, while the Orange Protocol's zkTLS framework advances privacy-preserving reputation systems. These tools aim to bridge the gap between blockchain technology and real-world applications, particularly in identity verification and secure communications according to the latest upgrade announcement.

The upgrade coincides with a broader campaign to celebrate Ontology's eight-year anniversary, including a "Your Story" initiative that rewards users for sharing their experiences with the platform. A node campaign is also underway, inviting participants to contribute to network security and governance. These efforts highlight Ontology's focus on fostering a vibrant ecosystem through community engagement and developer incentives.