Bondly Finance now integrates with Litentry’s upcoming Crypto Identity & Social Network product called “My Crypto Profile” that allows users to link and verify their Ethereum accounts with Twitter accounts in an automatic and transparent way. This is powered by Litentry Registrar which is an open-sourced software that focuses on automatic verifications, leveraging well-designed cryptographical challenges to further reduce human interventions.
My Crypto Profile also features NFT collections. With Bondly’s integration, NFT collectibles on Bondly will be displayed across the platform. Owners of these NFTs will be able to link their crypto assets with Twitter accounts, and prove his/her ownership over these NFTs on Twitter. Their ownerships over their crypto collectibles get to be announced via My Crypto Profile platform.
The key components of the Litentry registrar mainly includes Validators, Event Listener, ProvideJudgement Service and Database Service. It uses JSON Web Token (JWT) to construct the verification protocol, only the user who requests identity judgement, which implies his/her ownership of this Ethereum account, will receive this encrypted token. Malicious users cannot construct this token because of an unknown encryption secret, since nonce and ObjectID are encrypted. And the malicious user has no way to re-play the attacks.
When Will the Product Launch?
This product is currently under developing by the Litentry Technologies GmbH, it is expected to launch later this year in May.
In the future, this platform will be integrated in the Litentry blockchain to realize fully decentralized verification service. And the validators will also be upgraded to a permissionless distributed validation network built within the Litentry blockchian, making the verification process verifiable and eliminating centralization through the entire process.
Quote from Bondly
“As we continue to bring the NFT crypto space closer to non-crypto native users, Litentry’s product helps solve a real problem in the NFT community. As we look to build on utilities in the NFT space, this solution helps create the synergies between crypto collectibles and social network by closing the loop of Discovery — Verification — Interaction for NFTs.”
Quote from Litentry
“Bondly Finance has always been a forerunner to the next generation of digital collectibles and we are proud of our joint efforts on bringing NFTs to social network. We look forward to building social impacts for all the NFT collectors and carrying forward the fine culture of the NFT community.”
Bondly is an interoperable, transparent and portable swap protocol designed to revolutionize traditional escrow methods and make everyone into their own digital marketplace. Our family of trust-enabling products is designed to be a part of everyday buying and selling giving peace of mind for swap or online purchases. Our product BondProtect is a Defi enabled eCommerce gateway specializing in integrating into your favorite online marketplaces very simply and easily with no integration fees, just staking tokens.
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Litentry is a cross-chain identity aggregation protocol that features a Substrate-built network, mobile app and identity-related tools. The protocol enables identity linking across different networks and facilitates decentralization and transparency in identity credit computation. Litentry provides a secure vehicle through which users manage their identities and dApps obtain real-time credit/reputation of an identity owner across different blockchains.