ENS Labs, the corporate behind the open-source blockchain naming protocol, Ethereum Title Service, is collaborating with Dentity, a number one digital identification supplier, to combine verifiable credentials on-chain.
The brand new integration permits ENS customers to hyperlink their on-chain identification with their real-world identification, giving them the ability to resolve the scope of the data they share, the businesses stated in an announcement on Wednesday.
The event may have far-reaching implications for the way forward for on-line identification. ENS customers can preserve management over publicly accessible personally identifiable data whereas making certain that no such data is saved on-chain.
Khori Whittaker, Govt Director of ENS Labs, famous how the 2 firms are trying to bridge the hole between off-chain and on-chain identities by enabling customers to have one true digital identification.
“Along with Dentity, ENS is broadening the capabilities of Web3 naming, making on-chain identities actual and usable throughout numerous functions,” Whittaker stated. “By linking real-world identities with on-chain personas, Web3 customers can personal a verified identification to entry real-world companies with out compromising on decentralization.”
Equally, Dentity customers can now join their identification credentials to their ENS area utilizing the newly developed integration pathway.
Jeffrey Schwartz, the Founder and CEO of Dentity, remarked that “the following billion blockchain customers received’t be crypto natives, and so they probably received’t even know they’re on-chain.”
He elaborated that these customers will make the most of companies that require real-world identification verification, comparable to accessing academic credentials, skilled licenses, and healthcare data.
“Subtle DeFi or conventional monetary companies will want real-world identification verification, as they exceed what nameless or pseudonymous blockchain transactions can supply,” Schwartz stated per the assertion.
By linking digital and bodily identities, this integration may assist facilitate the adoption of Web3 applied sciences throughout numerous sectors.
Roughly 14,997 .eth names had been registered in July, marking a 25.5% lower from the 20,131 registrations recorded in June, on-chain knowledge exhibits.
The registration rely additionally represents a 48% decline from the Might peak of 28,949 registrations.
The dip in registrations underscores the significance of initiatives just like the ENS-Dentity partnership by trying to spice up the enchantment of ENS domains to a wider consumer base.
On Monday, Ethereum co-founder Vitalik Buterin registered a brand new Ethereum Title Service area named “dacc.eth” for 0.187 ETH, value roughly $500.
The transfer precedes Buterin’s upcoming dialogue on “defensive accelerationism” at an X Areas discovery occasion slated for August 22.
Edited by Sebastian Sinclair
