What is SpaceID?
Space ID is a service that supports domain name registration on the BNB Chain ecosystem. Normally, BNB Chain wallet addresses will consist of a very long string of alphanumeric characters, making it difficult for users to remember their wallet addresses. Space ID will be a simple task. Turn those complex addresses into simpler address that is easier for users to remember.
Space ID is intended to give users a unique identity for all chains. On Space ID, usernames can be associated with their identities across multiple blockchains. SpaceID will also allow users to connect their identities from the Web2 world, including Twitter, Email addresses, and Github accounts, to Web3.
One domain for all chains: Space ID helps users to register and use their unique domain name without depending on a certain blockchain.
More than just a user domain: Space ID is not just a user domain but a proprietary database for locating resources on any string.
Security and Availability: Space ID is powered by Lucas, a special blockchain that connects and stores user data on different chains. Two other components implemented in the SPACE ID architecture to enhance security and availability are Jedi and Yoda.
- Jedi is a smart contract that runs on various chains for name registration and resolution. It only accepts valid domain names from Yoda.
- Yoda is an Oracle that guarantees the uniqueness of domains registered across multiple chains. It will collect registration events from different chains, merge information, and issue authenticator signatures to users who want to register or bridge domains on any Jedi.
SpaceID (SID) is more than just a domain name.
With Space ID (SID) it will be not just a regular domain name; it will be a multi-chain identity of users in the metaverse: trading crypto, lending tokens, minting NFTs, and buying tickets or even buying a house in a future decentralized world easier using just one ID. And all data privacy related to ID will be owned by the ID owner.
Space ID’s goal is to be the gateway between decentralized identity and the physical/digital world and the key to finding solutions to the challenges facing all current domain name services. face. And the SID is built around features:
Feature 1: Generic Domain Name
- Build your brand: Space ID’s vision is for a multi-chain future. When existing blockchain users are looking to secure the same identity on different blockchains, once that name is used, they lose their personal brand. With SID, will provide the owner with a unique identity for all chains.
- Simplify interactions: No need to double-check your address. On Space ID, your domain name can be associated with your identity on multiple blockchains. For example, if you take the name satoshi, that name can be used as satoshi on BNB, satoshi on Ethereum and shatosi on Cosmos.
- Connect domains from other social networks: Space ID also allows you to connect the identities of users on other social networks like your Twitter username, email address, Github account.
Feature 2: Customizable Top Level Domains (premium domains)
Community-unique usernames: Even if you have a common ID, that doesn’t mean you don’t need multiple identities in different communities. Therefore, SPACE ID supports a custom Top Level Domain in the form of BAYC: or ETH: this will be equivalent to the .eth domain later on.
Seamless NFT Integration: Assuming BAYC wants to airdrop a larger number of APE tokens to holders, those holders must send funds to all BAYC: XX subdomains. You don’t need to know other aliases or even their common names, it will automatically be sent to the owner’s address of BAYC: XX.
Combining Top Level Domain and Multi-chain: There are many advantages to combining Top Level Domain and multi-chain domain services. If the common domain is set to : satoshi, the user can also set his identity to:
- On BAYC: 001
- On ETH: satoshi (satoshi.eth)
- On BNB: satoshi (satoshi.bnb)
- On Twitter, if the username is @satoshi, you can also use Twitter: satoshi as one of your domains to interact.
Feature 3: One SDK for all
Domain name service aggregator: Using the SDK software development kit, integrating the Space ID’s SDK will only take about 30 minutes, plus Space ID has a Top Level Domain that can be used to analyze and resolve other domains and domain name services.
This means that developers only have to integrate the Space ID SDK with all other major domain name services. No more integrating more than one domain name service while keeping an eye on new name services to stay relevant.
With the information that Coincu News provides, hopefully, everyone will have more information about the project and make the right decision in their investment! Coincu News posts are for informational purposes only and are not investment advice.
Find more information about: SpaceID
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