What is exactly is DotBit?

DotBit platform provides a worldwide unique naming system with a .bit suffix that can be used in different scenarios, such as cryptocurrency transfer, domain name resolution, identity authentication, etc. As AssurePro formed a Partnership with DotBit.

.bit is the first decentralized account system with broad compatibility, allowing users to register and manage their .bit accounts with any public chain address or even email.

The core elements of a .bit account contain the owner/manager, and the record (i.e. the data associated with). Unlike ENS, the owner/manager of .bit can be any public chain private key or even email; unlike DNS, .bit supports any type of record.

.Bit Five Main Components

1. Core Protocol – This refers to a series of Lock Scripts and Type Scripts deployed on Nervos CKB. They define .bit accounts and the related operational standards for .bit accounts and are the concrete implementations of the .bit core protocols.
2. Keeper – a set of off-chain programs that can be run by anyone without permission, and is responsible for triggering a series of transactions that conform to the core protocol. Running a Keeper earns .bit system rewards.
3. Resolution Service – It resolves the global state of .bit based on the transactions on Nervos CKB and provides account resolution service to the public in the form of an interface.
4. Client SDK – Includes SDKs in various languages to simplify the integration of mobile wallets, web wallets, server wallets and other .bit-related applications.
5. Dapp UI – Users ultimately use various features of .bit through a variety of application interfaces. These applications can be used directly in the browser or can be integrated into popular wallet software.

.bit Ecosystem

• Registrars – They provide interfaces for users to register/manage/trade .bit. Their role in the .bit ecosystem is just like GoDaddy in the internet domain ecosystem.

• Data Providers – They provide all kinds of data about .bit for users to track the performance of .bit.

• Marketplaces

• Applications – They integrate .bit to better serve their customers. Some of the apps are even born for .bit.

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About AssurePro

Assure is a Web3.0 multi-chain crypto aggregation service platform, dedicated to becoming the traffic portal for millions from Web2.0 to Web3.0. Assure is not merely a wallet for crypto assets management but also carries the web3.0 users’ fancy vision for the multi-functional interactive wallet

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While they remain stern on their journey to push the boundaries of Web3 through cutting-edge cross-chain innovations, they are also at a phase where they aim to tap into the essence of formidable partnerships and vision-oriented projects, gradually expanding the mission for an integrated Web3 ecosystem.

This is why they are pleased to announce this partnership with .bit, the world’s first multi-chain decentralized identity (DID) system. Leveraging its leading technical infrastructure, .bit fosters a decentralized approach for both blockchain and non-blockchain users to take control of their digital identities, establishing the awareness of identity sovereignty worldwide.

This partnership aims to infuse the flexibility of identity sovereignty with the composability of Teleport products to deliver an all-encompassing decentralized & multi-chain Web3 experience.

What to Expect from this Partnership

Teleport Network has continuously honed its resources — internally and externally — to deliver tenable cross-chain & interoperable solutions across the blockchain ecosystem — one of which is the TeleWallet. TeleWallet is the first ever multi-identity & multi-verse wallet with support for both EVM & Cosmos networks. On the other hand, .bit positions itself as an open-sourced decentralized identity protocol built on the blockchain. Committed to providing permissionless and irrevocable decentralized identity for individual users, dApps, and DAOs.

With this partnership, Teleport will integrate with .bit infrastructure; thus enabling the support of .bit accounts within the Teleport Wallet as well as user-generated teleport.bit sub-accounts. This will bring all the associated benefits of .bit accounts (such as unified usernames and customizable wallet addresses) to TeleWallet users. This integration will also further allow the introduction of new features and bring improved functionality to the Teleport Wallet.

Additionally, Teleport and .bit will embark on several joint marketing efforts, delivering rewarding campaigns, AMAs, and Spaces for users of both projects in the coming weeks.

About .bit

.bit provides a globally unique account system with the .bit suffix. The leading technical architecture of .bit allows both blockchain and non-blockchain users to use it without permission. .bit is a combination of a cross-chain feature and cryptographic-level security, giving users the ability to adopt .bit accounts as their decentralized identity and switch across chains. As a DID system, .bit meets the ultimate requirements of Web3.0.

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About Teleport

Teleport Network is an innovative interoperability platform geared with a mission to accelerate dApps and crypto assets towards multi-chain future. And it constantly implements new approaches to accomplish this. Teleport Network consists of a cross-chain messaging protocol developed for Teleport bridge implementation. It an omni-chain wallet (TeleWallet), and developer SDKs for cross-chain dApp integration.

The network is designed to facilitate cross-chain communication amongst disparate blockchains as well as provide infrastructure. And framework support for building interoperable dApps for the Web 3 economy. Granting users access to explore all chains, dApps, NFT projects, and other emerging markets within the industry.

This partnership with .bit further demonstrates their commitment to bringing an optimal Web3 & multi-chain experience to their products, embodying the ideals of decentralization and spurring the development of chain-agnostic solutions across the blockchain industry.

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SOURCE: MEDIUM

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.bit, an open-sourced decentralized identity protocol built on the blockchain is committed to providing permissionless and irrevocable decentralized identity for individual users and DAOs, establishing the awareness of identity sovereignty around the world.

With the joint effort from the development team and the community during the past year, .bit has achieved a breakthrough from 0 to 1 and reached rapid growth for both user and active developer communities. So far, more than 38k independent addresses have registered for more than 110k. The .bit accounts, and nearly 100 mainstream wallets and Dapps have integrated with .bit.

Users have never really controlled or even owned our identity online or offline. In the Web2 world, social accounts used to present who they related to others are stored on centralized tech giants, who can easily revoke or tamper with the data. Platforms can block their accounts at any time. Refuse to provide services, and thus remove users from their own social graphs.

.bit is excited and confident to be a part of the challenging work. Building the infrastructure for Web3 identity protocol.

To construct the leading decentralized identity system and expand the adoption of the decentralized identity.

.bit team will apply the funds and resources to the following areas

Cross-chain

.bit believes that Web3 is not only about blockchain, and blockchain is not only about one specific public chain. As Web3 citizens, they need a cross-chain unified decentralized identity solution. What makes .bit stand out from its competitors is a combination of cross-chain features and cryptographic level security. It means any public chain or even non-blockchain users can adopt .bit as their decentralized identities and switch their accounts among chains.

.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.

The Cross-culture

The world is culturally diverse with multiple languages and writing systems. People should be able to register their decentralized identities with the languages they prefer for daily use. However, similar characters shared among different writing systems provide possibilities for fraud.

Furthermore, .bit team commits to the challenging task of supporting all the writing systems in the world while preventing scams and frauds as much as possible so that users from different cultures in the world can own reliable decentralized identities and get an equal chance to enter the Web3 ecosystem safely.

Cross-verse

Cryptocurrency transfer, decentralized domain resolution, personal profile display, etc. are only parts of the usage scenarios of .bit. As an identity protocol, .bit could be widely used as membership and credential management for DAOs, brands and IPs, celebrities and fans, clubs and communities, etc.

.bit is a unified identity for users to take into different spaces including centralized and decentralized applications. The team will build a series of robust tools to help all types of application developers to integrate with .bit easily, which ultimately provides users with an exceptional experience.

ABOUT .bit

.bit is a blockchain base, open source, decentralize cross-chain account system.  Provides a worldwide unique naming system with a .bit suffix. Use in different scenarios, such as cryptocurrency transfer, domain name resolution, identity authentication, etc. The .bit to its core is a set of smart contracts on blockchains, but as a product, it comes with a strong ecosystem.

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RESOURCES

Medium

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The .bit users can convert any of their accounts to an Ethereum standard NFT that can be traded on OpenSea, LooksRare, X2Y2, Rarible, and other trading platforms, and can be checked on data platforms such as NFTScan, NFTGo, etc.

Background

Ever since the launch of .bit, users on the Ethereum ecosystem are eager to obtain their own high-value .bit accounts that can be displayed and traded on the Ethereum network.

In an ideal world of the blockchain community, all assets, including tokens and NFTs, should be able to flow freely: from one server to another, from a user to another. There is no barrier and no postponement.

Nevertheless, in reality, they have to confront several problems: first, data does not interflow among chains; second, the underlying techniques of public chains are different; third, the infrastructure of one chain cannot be applied to another.

Mission

The .bit, constructed based on Nervos CKB, allows being held by any public chain address. It is a pioneering undertaking within Decentralized Identity (DID) field.

However, since the contract programming model of Nervos CKB is different from those of other public chains, there is a threshold for asset liquidity.

In order to lower the bar for users to register and trade, the .bit team and its ecosystem partners have developed a series of registration and trading platforms, such as did.top, dename.com, gogodas.com, however, its mission is way beyond this.

Due to the natural cross-chain characteristics of .bit, we hope to embrace more possibilities for our ecosystem, which Ethereum is our first goal.

ERC-721

After conversion, the .bit account will be presented as a standard Ethereum NFT which satisfies the ERC-721 protocol. It will improve the composability of .bit as a Web3.0 infrastructure.

Users can check their .bit accounts in their ETH wallets, and trade on all the marketplaces that support Ethereum NFT trading, such as OpenSea, LooksRare, X2Y2, Rarible, Element, etc.

Users can convert .bit accounts on Ethereum back to Nervos CKB. If they want to enjoy a free gas fee for .bit administration and multi-chain holding capacity.

Convert Bridge

To realize converting .bit accounts to Ethereum NFTs, the .bit team constructs a highly efficient, elegant, and safe convert bridge, actualizing the two-way transformation of .bit accounts between Nervos CKB and Ethereum.

Safety

The Convert Bridge is developed based on several safety mechanisms, such as Multisig, and Notary schemes. It also includes Distributed private key control, separation of Cold Wallet and Hot Wallet, etc. Safety is strictly guaranteed during the converting process.

This Convert Bridge is operated by several reputable partners from the .bit ecosystem, ensuring that even. The .bit team members themselves are not able to control the cross-chain assets from users.

* The security mechanism is basically identical to force-bridge.

Please refer to “Convert your .bit to NFT on Ethereum now!”.

ABOUT .bit
The .bit to its core is a set of smart contracts on blockchains. But as a product, it comes with a strong ecosystem.

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RESOURCES
Medium

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