.bit (did.id) has raised $13 million to construct a cross-chain decentralized id protocol. The Collection A spherical, accomplished one 12 months after the startup’s launch, was from CMB Worldwide, HashKey Capital, QingSong Fund, GSR Ventures, GGV Capital, and SNZ.
.bit’s open-source blockchain protocol will present permissionless decentralized identification for particular person customers and DAOs. Over the previous 12 months, the venture’s consumer and developer communities have skilled robust progress. Nearly 100 mainstream wallets and dApps have already built-in with .bit and greater than 38okay unbiased addresses have registered for greater than 110okay .bit accounts.
Within the web2 period, social profiles are saved on centralized databases by tech giants who can revoke entry or alter information at will. Accounts could also be blocked or deactivated at any time, resulting in censorship and deplatforming. Using web3 know-how, .bit will empower people to really personal and management their information. Customers will take pleasure in id sovereignty, each as personal individuals and as company entities.
Preliminary purposes for .bit’s decentralized id protocol embody Cryptocurrency switch, decentralized area decision, private profile show, and many others. It’s anticipated that .bit will ultimately be used as membership and credential administration for DAOs, manufacturers and IPs, celebrities and followers, golf equipment and communities.
Additional use circumstances for .bit’s decentralized id product embody supporting the one billion residents who lack authorized identification. This makes it unimaginable for them to show their id, get hold of primary authorities advantages or healthcare, enroll in training, or train their proper to vote.
As a cross-chain answer, .bit has supported Ethereum, Tron, Binance Good Chain, Nervos CKB, and Polygon. Sooner or later, .bit will cowl all mainstream public chains comparable to Bitcoin, Dogecoin, Polkadot, Solana, and many others., in addition to software program and {hardware} gadgets that help uneven encryption algorithms.
Forthcoming options below improvement additionally embody NameDAO, which can assign a portion of .bit protocol’s income to DAOs and sub-accounts that might be issued to DAO members, model adopters, and dependable supporters to strengthen web3 communities, and additional decrease the brink for registering accounts, 4-9 digits account obtainable to 100% and open up Three digits accounts, which can announce the precise guidelines on the official Twitter very quickly.
About .bit
.bit is a cross-chain decentralized id protocol launched in July 2021. It has boasts over 110okay accounts and built-in with 100+ wallets and dApps comparable to Belief Pockets, Torus, TokenPocket, imToken, iToken, BitKeep, AlphaWallet, HyperPay, MathWallet, WePiggy, NFTSCan, NFTGO, Relation, ShowMe, UneMeta, Dtools, Evolution Land, UniPass, Mail3, Link3, Quest3, 0xEcho, Transit Swap, 5Degrees, cc0.community, COCH, SeekDID, DASLA, SuperDID and lots of others. The startup contains a small staff of ten unfold throughout the U.S., China, and Singapore, led by Tim Yoeh, Specer Shaw, Jeff Jin, Kyle Wright, who have been colleagues at Tencent. Most of .bit’s members have in depth expertise in the Web3 business.
For extra data, discover .bit on-line:
Web site: https://did.id
Twitter: @dotbitHQ
Discord: https://discord.gg/did
GitHub: https://github.com/dotbitHQ
Workforce Weblog: https://weblog.did.id
Discussion board: https://speak.did.id
Medium: https://medium.com/@dotbit
NameDAO Web site: https://namedao.xyz
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