Litentry enters SpaceID Ecosystem

Mische Martinete — Wed, 29 Nov 2023 06:42:20 +0000

Litentry enters SpaceID Ecosystem a universal name service builder network with a one-stop identity platform.

IdentityHub has recently integrated SpaceID’s SDK and completed domain resolution without any issues. This collaboration will allow both teams to elevate decentralized identity management within the Web3 ecosystem.

SPACE ID is developing a universal name service network that provides a convenient one-stop identity platform. This platform will allow users to discover, register, trade, and manage web3 domains. Additionally, developers across blockchains will have access to a Web3 Name SDK & API. The platform also offers a multi-chain name service that makes it easy for anyone to build and create a web3 identity.

The SPACE ID 3.0 platform empowers communities with robust resources to launch their desired Top-Level-Domain without requiring any development effort.

The Web3 Name SDK is equipped to support various TLDs like .eth, .lens, .crypto, .bnb, .arb, and the verified domains that are launched through the SPACE ID Toolkit. Additionally, it dynamically supports new TLDs as they are verified, ensuring seamless integration for domain name resolution and reverse resolution.

Litentry: Pioneering the Decentralized Identity Revolution

Litentry is at the forefront of the decentralized identity revolution, linking networks through a one-of-a-kind privacy-preserving Decentralized Identity system. Litentry strives to strengthen DID aggregation, verification, and utility for the future of digital identity.

Litentry is a revolutionary cross-chain identity aggregator that empowers users to link their identities in a secure and private context. Its objective is to provide users with complete control over their data and enable them to receive social and economic benefits. Its protocol has numerous applications, including on-chain reputation, governance, DeFi, and customized data services.

The Litentry platform is revolutionizing identity-based social and economic innovations by unlocking verifiable personal data securely and privately.

LIT is the native cryptocurrency of the Litentry, including Litmus parachain on Kusama and Litentry parachain on Polkadot with the following utilities:

Pay transaction fees in the network.
Incentivize collators and fund promotion campaigns to support Litentry parachain
Empower governance mechanisms in the chain, including proposing referendums, the election of council members, voting in a referendum, etc.
Serve as the utility token for identity products or services.
Collator staking

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Lit Protocol Raised $13M

Mische Martinete — Sun, 25 Sep 2022 11:50:15 +0000

Lit Protocol raised $13M in a seed funding round led by 1kx Network. When an individual has agency over their wallet’s private key, that person can participate in the decentralized web (e.g. DeFi, NFTs, DAOs), communicate securely, and retain control and ownership of their data and digital finances.

Lit recognizes that the data, security, and monetization model of the internet today is extractive and broken.

Furthermore, Lit Protocol aims to bring about a more humane and fair internet. Something John Perry Barlow called the “Civilization of the Mind in Cyberspace”, as quickly and securely as possible. In its digitally mediated society, each person should have the right to own and control their digital property, including data and finances. We can have an internet that treats each individual with dignity.

To that end, Lit is delighted to announce Programmable Key Pairs (PKPs) which let developers create applications where user-controlled keys can sign in to the decentralized cloud, based on applications the user installs. Today, developers are building new interactions at the intersection of non-custodial keys. The automation potential opened up by the ‘always-on nature of this network.

Functionally, Lit’s PKP offering is a network-powered application development platform for web3 automation. An imperfect web2 analogy would be decentralized AWS Lambda Functions with a decentralized key management service.

In addition to supporting developers building on this infrastructure, at the time of this writing the team at Lit is focus on decentralizing the network.

INTRODUCING THE $13M SEED FUNDING

In order to further accelerate Lit’s development and ecosystem, they share that Lit has raised a $13 million round led by 1kx. With participation from 6thManVentures, A Capital, Eniac Ventures, Figment, Filecoin, and the LAO. Lattice Capital, OpenSea Ventures, Slow Ventures, Spaceship, Valhalla Ventures, Village Global, and Visary Capital are also present.

It also received support from Balaji Srinivasan, Baptiste Grève, Christina Beltramini, David Phelps, Francis Haugen, Gregory Rocco, and James Parillo. Mr. Josh Goldbard, Lauren Feld, Marc Bhargava, and Marius Barnett were also there to support the project. With the special participation of Michael Sena, Noah Jessop, Patricio Worthalter, Raj Gokal, Ryan Li, Ryan Selkis, Stani Kulechov, Stefaan Vervaet, Tom Trowbridge, and Tristan Harris.

Furthermore, Lit Protocol assembled a team of motivated, thoughtful, and experienced people to build Lit and make it easier for developers to innovate in Web3.

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Litentry enters SpaceID Ecosystem