Bridging Users and Web3 Projects: The Strategic Vision of IdentityHub for DID Solutions

Litentry
3 min readApr 17, 2024

--

1. Background

The Litentry DID project, IdentityHub, serves as a pivotal connection between “Data” and “Revenue.” At the Data level, it addresses the issue of user persona, while at the Revenue level, it resolves the challenges of monetizing user data assets and facilitating transactions through more dimensional information. The underlying technology ensures user privacy and security through Blockchain TEE technology and enhances the product’s scalability, while simultaneously reducing user costs by integrating AI large model technology.

1.2 Challenges in the DID field we are facing

The current DID market faces two major unresolved issues:

  • Too far from “money”

In the blockchain market, the vast majority of users are still profit-oriented (which is also fundamental to blockchain). However, as a foundational infrastructure application, DID is still distant from directly benefiting users financially.

  • Too far from “C-end users”

The current DID application scenarios are still relatively narrow, limited to a few uses such as Airdrops and KYC authentication. Consequently, users currently struggle to perceive the true value that DID can offer them. This creates difficulties in practical implementation, and challenges in generating economies of scale to encourage mass adoption.

1.3 IdentityHub solution

The essence of IdentityHub is to act as a bridge connecting “Data” and “Revenue.” In the current market, the dimensions of “Data” and “Revenue” for users are completely separated. Users gather data from major media and social platforms, while transactions occur primarily on major CEX and DEX exchanges, with no direct connection between the two.

Therefore, for IdentityHub, our initial focus is on using “user benefits” as an entry point. By incentivizing benefits, we aim to understand users across multiple dimensions, creating a universal and user-controlled user profile (Persona). Subsequently, we apply this user profile to various high-frequency user scenarios (such as Staking, Airdrop, Social, Gaming, etc.), further monetizing “identity” or “user profiles” and delivering greater value to users. This approach aims to address the two major unresolved issues mentioned earlier to a certain extent.

1.4 Roadmap for the next six months

Our main focus will be on three major aspects for the next six months:

  • Product Direction Adjustment with a Focus on C-end Users: We will tailor a universal and unified scoring system for users, representing their identity in the blockchain market. This system will use multiple identity dimensions to address the blockchain paradox where large holders dominate the majority of benefits, and it will incorporate AI functionality to enhance scalability.
  • Expanding Usage Scenarios by Collaborating with Major Public Chains and Leading dApps: We will move beyond the Polkadot ecosystem and integrate more with ecosystems like Solana, Bitcoin, as well as emerging ones like Ton and RWA ecosystem.
  • Exploring More Application Scenarios: We will delve deeper into high-frequency user scenarios such as Staking, Airdrop, Social, etc., integrating identity further and unlocking its value, bring greater benefits to users.

About Litentry

Litentry is a privacy-preserving Identity Aggregation protocol that enables granular access to and control of data. Featuring a DID indexing protocol and a Substrate-built distributed DID validation blockchain, Litentry provides a decentralized, interoperable identity aggregation service that mitigates the difficulty of resolving agnostic DID mechanisms. Litentry provides a secure vehicle through which users manage their identities and dApps obtain real-time DID data of an identity owner across different blockchains.

Stay in touch with us!

Discord | Telegram | Twitter | Github | Website | Newsletter

--

--

Litentry
Litentry

Written by Litentry

Make your identity tangible without being seen. | Discord: discord.gg/litentry

No responses yet