Why we need cross-chain identity for Web 3.0

  • A common problem for new blockchain projects is how to attract real users. Blockchain projects always use air-drop, but projects cannot prevent a user from creating multiple accounts to get the rewards. For example, Uniswap’s generous token gifting to all the historical liquidity providers does not have any differentiation of the users.
  • A missing point in the DeFi world is credit loan. Without the credit or financial history of users, financial institutes need to charge a collateralized deposit for issuing a microloan or flash loan.
  • In the on-chain governance of a Proof of Stake(PoS) network, the voting power is mainly decided by the distribution of tokens, the network will need sophisticated algorithms to make sure the voting power is not controlled by individual major stakeholders.
Cross-Chain Identity
  • How to link an account from a different chain to a Litentry account.
  • How to evaluate a specific credit, and which parameter to use.
  • From which resource should the parameter be fetched.

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