Tradingfxdaily.com
  • Home
  • Forex
  • Crypto News
    • NFT News
  • World News
  • Business
  • Stock Market
  • Economic Calendar
No Result
View All Result
  • Home
  • Forex
  • Crypto News
    • NFT News
  • World News
  • Business
  • Stock Market
  • Economic Calendar
No Result
View All Result
Tradingfxdaily.com
No Result
View All Result
Home Crypto News

․bit Raises $13M to Build Cross-Chain Decentralized Identity Protocol – Sponsored Bitcoin News

tradingfxdaily by tradingfxdaily
August 15, 2022
in Crypto News
0
․bit Raises $13M to Build Cross-Chain Decentralized Identity Protocol – Sponsored Bitcoin News
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

sponsored

.bit (did.id) has raised $13 million to build a cross-chain decentralized identity protocol. The Series A round, completed one year after the startup’s launch, was from CMB International, HashKey Capital, QingSong Fund, GSR Ventures, GGV Capital, and SNZ.

.bit’s open-source blockchain protocol will provide permissionless decentralized identification for individual users and DAOs. Over the past 12 months, the project’s user and developer communities have experienced strong growth. Almost 100 mainstream wallets and dApps have already integrated with .bit and more than 38k independent addresses have registered for more than 110k .bit accounts.

In the web2 era, social profiles are stored on centralized databases by tech giants who can revoke access or alter data at will. Accounts may be blocked or deactivated at any time, leading to censorship and deplatforming. Utilizing web3 technology, .bit will empower individuals to truly own and control their data. Users will enjoy identity sovereignty, both as private persons and as corporate entities.

Initial applications for .bit’s decentralized identity protocol include Cryptocurrency transfer, decentralized domain resolution, personal profile display, etc. It is expected that .bit will eventually be used as membership and credential management for DAOs, brands and IPs, celebrities and fans, clubs and communities.

Further use cases for .bit’s decentralized identity product include supporting the one billion citizens who lack legal identification. This makes it impossible for them to prove their identity, obtain basic government benefits or healthcare, enroll in education, or exercise their right to vote.

As a cross-chain solution, .bit has supported Ethereum, Tron, Binance Smart Chain, Nervos CKB, and Polygon. In the future, .bit will cover all mainstream public chains such as Bitcoin, Dogecoin, Polkadot, Solana, etc., as well as software and hardware devices that support asymmetric encryption algorithms.

Forthcoming features under development also include NameDAO, which will assign a portion of .bit protocol’s revenue to DAOs and sub-accounts that will be issued to DAO members, brand adopters, and loyal supporters to strengthen web3 communities, and further lower the threshold for registering accounts, 4-9 digits account available to 100% and open up 3 digits accounts, which will announce the specific rules on the official Twitter very soon.

About .bit

.bit is a cross-chain decentralized identity protocol launched in July 2021. It has boasts over 110k accounts and integrated with 100+ wallets and dApps such as Trust Wallet, 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.network, COCH, SeekDID, DASLA, SuperDID and many others. The startup comprises a small team of ten spread across the U.S., China, and Singapore, led by Tim Yoeh, Specer Shaw, Jeff Jin, Kyle Wright, who were colleagues at Tencent. Most of .bit’s members have extensive experience in the Web3 industry.

For more information, find .bit online:

Website: https://did.id
Twitter: @dotbitHQ
Discord: https://discord.gg/did
GitHub: https://github.com/dotbitHQ
Team Blog: https://blog.did.id
Forum: https://talk.did.id
Medium: https://medium.com/@dotbit
NameDAO Website: https://namedao.xyz

 

 


This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.

Bitcoin.com Media

Bitcoin.com is the premier source for everything crypto-related.
Contact ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

Source link

Related articles

Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

January 31, 2023
SEC settles on security claim in LBRY case, community calls it a big win for crypto

SEC settles on security claim in LBRY case, community calls it a big win for crypto

January 31, 2023
Share76Tweet47

Related Posts

Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

by tradingfxdaily
January 31, 2023
0

The fate of the Panamanian crypto bill project, which was approved by the Panamanian National Assembly last year, now depends...

SEC settles on security claim in LBRY case, community calls it a big win for crypto

SEC settles on security claim in LBRY case, community calls it a big win for crypto

by tradingfxdaily
January 31, 2023
0

The United States Securities and Exchange Commission (SEC) admitted on record that the sale of LBRY tokens in the secondary...

Bitcoin sees most long liquidations of 2023 as BTC price tags $22.5K

Bitcoin sees most long liquidations of 2023 as BTC price tags $22.5K

by tradingfxdaily
January 31, 2023
0

Bitcoin (BTC) swapped bullish gains for chop into Jan. 31 as the end of the month saw nervous price action.BTC/USD...

Here’s how Kazakhstan aims to enhance its legacy crypto trading framework

Here’s how Kazakhstan aims to enhance its legacy crypto trading framework

by tradingfxdaily
January 31, 2023
0

Kazakhstan, one of the world’s biggest Bitcoin (BTC) mining destinations, issued a consultation paper to gauge public interest in proposed amendments to improve the...

BlockFi gets court nod to sell crypto mining assets

BlockFi gets court nod to sell crypto mining assets

by tradingfxdaily
January 31, 2023
0

Bankrupt crypto lender BlockFi has been granted court approval to sell off its crypto mining equipment as part of ongoing...

Load More
  • Trending
  • Comments
  • Latest
Short SPX: Top Trade Opportunities

Short SPX: Top Trade Opportunities

April 5, 2022
The Top 5 Metaverses to Look Out for in 2022

The Top 5 Metaverses to Look Out for in 2022

March 26, 2022
What is Leverage in Forex? Forex Leverage Explained

What is Leverage in Forex? Forex Leverage Explained

April 19, 2022

Larry Fink says globalization is over — Here’s what it means for the markets

March 26, 2022
Tesla Stock Split: What to Know as EV Maker Prepares to Split Its Stock in 2022

Tesla Stock Split: What to Know as EV Maker Prepares to Split Its Stock in 2022

March 28, 2022
U.S. securities regulator probes Didi Global’s $4.4 billion IPO By Reuters

India’s Adani rides out storm as investors rally to $2.5 billion share sale By Reuters

0

In a Less-Globalized World, Be Careful Where You Park Your Plane

0
Cardano pares most of its Q1 losses as ADA rebounds 60% in a month — What’s next? By Cointelegraph

Cardano pares most of its Q1 losses as ADA rebounds 60% in a month — What’s next? By Cointelegraph

0

Larry Fink says globalization is over — Here’s what it means for the markets

0
Natural-Gas Industry Gets Boost as Biden Shifts Stance

Natural-Gas Industry Gets Boost as Biden Shifts Stance

0
U.S. securities regulator probes Didi Global’s $4.4 billion IPO By Reuters

India’s Adani rides out storm as investors rally to $2.5 billion share sale By Reuters

January 31, 2023
Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

January 31, 2023
GM’s Fourth-Quarter Profit Soared as Supply-Chain Problems Eased

GM’s Fourth-Quarter Profit Soared as Supply-Chain Problems Eased

January 31, 2023
Japanese Yen Crushed as Bank of Japan Disappoints, Policy Settings Left Unchanged

USD/JPY Breaks Key Downtrend Line But Bulls Have Work to Do

January 31, 2023
Black woman who fought enslavement honoured with Canada Post stamp – National

Black woman who fought enslavement honoured with Canada Post stamp – National

January 31, 2023
Tradingfxdaily.com

Tradingfxdaily.com is your Forex, Stock News, World News, Crypto Currency News, Business News & NFT News Website. We provide you with the latest breaking news and videos straight from the Trading industry.

  • Home
  • About us
  • Contact Us
  • Privacy Policy

© 2022 - All Right Reserved. tradingfxdaily.com

No Result
View All Result
  • Home
  • Forex
  • Crypto News
    • NFT News
  • World News
  • Business
  • Stock Market
  • Economic Calendar

© 2022 - All Right Reserved. tradingfxdaily.com

EURUSD=X 
$1.08  -0.16%  
EURCAD=X 
$1.46  0.33%  
EURJPY=X 
$141.20  -0.19%  
GBPUSD=X 
$1.23  -0.43%  
EURNZD=X 
$1.69  0.45%  
AUDUSD=X 
$0.7003  -0.84%  
CADUSD=X 
$0.7437  -0.46%