KEY3.id recently announced the support of multi-chain transactions, including major public chains such as Ethereum, BSC, TRON, Polygon, BNB Chain, Solana and more. As the only DID on Ethereum chain to support multi-chain transactions, KEY3.id gained the support and access from wallets such as KuCoin Wallet, CoinHub Wallet and Wallet3 and exchanges such as Yibi to jointly launch the 2023 Lucky Transaction Campaign.
The campaign generated mass buzz on Twitter, reaching over 30,000 participants for the draw to transfer 0.2023 USDT to the appointed DIDs of the wallet partners (2023kuwallet.did, coinhub.did, dagen.did) using the partnership wallets.
Users now can directly access DApps from different chains using KEY3.id’s .did domain name and blue-chip NFT bound DID to make transactions and send and receive tokens as well as NFTs.
DID (decentralized identity) is a popular concept in Web 3.0. Traditional identity management systems have long relied on a centralized medium that publishes, holds and controls identifiers and proof of identity.
This means that users have no control over personally identifiable information and no way to determine who has access and how much access they have. To address these issues, DID has emerged where it provides solutions for users to create highly readable and easily remembered identities without relying on a centralized organization.
According to statistics, the global decentralized identity market is valued at $181.8 million in 2021 and is expected to reach $46,457.5 million by 2030, growing at a CAGR of 89.1% during the forecast period.
Kory Pak, CEO of KEY3.id, said,
“DID is like a business card in the Web 3.0 world, representing the identity of individuals, organizations and brands. KEY3.id wants to lower the entry threshold of DID and meet the needs of users for accessing all chain applications. Supporting multiple chains with the same domain name resolution means higher utility, and users can use it in more Web 3.0 application scenarios.”
According to the official announcement, KEY3.id launched .did domain name in the first phase with intention to provide a permanently free DID for every user who wishes to enter Web 3.0, and to empower users to get a free-to-own DID Web 3.0 experience.
Users don’t have to pay anything upfront to claim a DID, while being neutral and inclusive enough to solve the problem of fractionalization in the current mainstream DID projects.
Moreover, KEY3.id also launched the industry’s first asset-bound tokenlue-chip NFT-bound DIDs to lead Web 3.0 users to have ‘asset as your DID.’
Currently, there are over 20 blue-chip NFT communities working together with KEY3.id including BAYC, Azuki, Clone X, Doodles, Mfers, Mimic Shhans and Moonbirds.
KEY3.id is also planning to set up an ecosystem to support more public chains, deploy more chains using KEY3.id’s DID and integrate with various types of ç, expand the user base of the domain and commit to providing users with more Web 3.0 application scenarios.
KEY3.id is a distributed, open and extensible naming system based on the Ethereum blockchain. .Did is the first DID launched by KEY3.id, aimed to provide users with decentralized identity in Web 3.0, with the features of free-to-claim, free-to-renew and free forever.
KEY3.id also supports the DIDs of 20 other blue-chip NFT-bound domain names, including .bayc, .mfer, .mimic, .doodle, .moonbird and more.