․bit Raises $13M to Create Inappropriate-Chain Decentralized Identification Protocol

․bit Raises $13M to Create Inappropriate-Chain Decentralized Identification Protocol

․bit Raises $13M to Create Inappropriate-Chain Decentralized Identification Protocol

.bit (did.id) has raised $13 million to produce a corrupt-chain decentralized identity protocol. The Series A spherical, carried out twelve months after the startup’s originate, used to be from CMB Worldwide, HashKey Capital, QingSong Fund, GSR Ventures, GGV Capital, and SNZ.

.bit’s originate-source blockchain protocol will provide permissionless decentralized identification for particular person customers and DAOs. Over the past 12 months, the mission’s user and developer communities indulge in experienced sturdy development. Virtually 100 mainstream wallets and dApps indulge in already integrated with .bit and extra than 38ok honest addresses indulge in registered for added than 110ok .bit accounts.

In the web2 period, social profiles are stored on centralized databases by tech giants who can revoke gain admission to or alter knowledge at will. Accounts may possibly per chance moreover very effectively be blocked or deactivated at any time, main to censorship and deplatforming. Utilizing web3 skills, .bit will empower folks to truly indulge in and retain watch over their knowledge. Users will ride identity sovereignty, each and every as private folks and as corporate entities.

Preliminary applications for .bit’s decentralized identity protocol consist of Cryptocurrency switch, decentralized arena choice, private profile level to, and so forth. It is miles anticipated that .bit will in the smash be used as membership and credential administration for DAOs, manufacturers and IPs, celebrities and followers, clubs and communities.

Additional use conditions for .bit’s decentralized identity product consist of supporting the one thousand million residents who lack shapely identification. This makes it very unlikely for them to level to their identity, manufacture frequent authorities benefits or healthcare, note up in training, or utter their shapely to vote.

As a corrupt-chain resolution, .bit has supported Ethereum, Tron, Binance Neat Chain, Nervos CKB, and Polygon. In the smash, .bit will duvet all mainstream public chains similar to Bitcoin, Dogecoin, Polkadot, Solana, and so forth., as effectively as tool and hardware devices that reduction asymmetric encryption algorithms.

Coming near near aspects beneath pattern also consist of NameDAO, which is able to attach a fraction of .bit protocol’s income to DAOs and sub-accounts that may possibly be issued to DAO members, imprint adopters, and valid supporters to toughen web3 communities, and further lower the brink for registering accounts, 4-9 digits fable readily in the market to 100% and originate up 3 digits accounts, which is able to converse the explicit principles on the first rate Twitter very soon.

About .bit

.bit is a corrupt-chain decentralized identity protocol launched in July 2021. It has boasts over 110ok accounts and integrated with 100+ wallets and dApps similar to Belief 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.community, COCH, SeekDID, DASLA, SuperDID and a complete lot of others. The startup features a small crew of ten unfold all over the U.S., China, and Singapore, led by Tim Yoeh, Specer Shaw, Jeff Jin, Kyle Wright, who had been colleagues at Tencent. Most of .bit’s members indulge in intensive ride in the Web3 industry.

For added knowledge, gain .bit online:

Web site: https://did.id
Twitter: @dotbitHQ
Discord: https://discord.gg/did
GitHub: https://github.com/dotbitHQ
Crew Blog: https://weblog.did.id
Forum: https://discuss.did.id
Medium: https://medium.com/@dotbit
NameDAO Web site: https://namedao.xyz



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