Blockchain
In a world where digital interactions are becoming more common, the importance of decentralized identities is growing exponentially. As data breaches and identity theft continue to threaten the privacy and security of individuals, several leading blockchain companies are joining forces to accelerate the adoption of decentralized identity solutions. In a recent blog post, Chainlink welcomed a new member to its BUILD program, Altverse, to accelerate its decentralized digital identity (DID) solution.
Altverse’s approach to decentralized digital identity
Altverse, a pioneer in the decentralized identity space, has officially announced its partnership with Chainlink under the BUILD program. This collaboration aims to accelerate the long-term growth and adoption of decentralized identity solutions, giving users greater control over their digital identities and privacy.
#ChainlinkBUILD
In return, the project will make 7% of its own token supply available to Chainlink service providers, including strikers:… pic.twitter.com/1fYE8Vvtfw
— Chainlink (@chainlink) May 4, 2023
Participating in the BUILD program significantly enhances Altverse’s partnership with Chainlink. This partnership offers additional benefits, including priority support for the Chainlink ecosystem, increased opportunities to connect with dApps seeking decentralized identity solutions, and stronger alignment of incentives between the Chainlink and Altverse communities.
Altverse’s mission is to create a comprehensive decentralized digital identity (DID) solution that allows users to own their skills, achievements, and credentials. The platform facilitates seamless transactions between different parties, such as freelancers, contributors, and projects, based on digital identities owned by users with robust authentication.
At the heart of Altverse’s offering is a digital identity profile that contains a user’s credentials and performance. Users can earn these through the Altverse platform by completing missions that verify professional skills, engaging in social media interactions, and more. Completing a quest rewards users with a soul-bound NFT as proof of their skills or interactions.
Altverse maximizes benefits with Chainlink BUILD
Altverse is strategically partnering with Chainlink’s BUILD program to leverage the unparalleled security and reliability of Chainlink’s Oracle infrastructure. This partnership ensures that Altverse benefits from a variety of key services, including the integration of Chainlink Automation, which streamlines custom dynamic NFT experiences for users. In addition, Chainlink’s Verifiable Random Feature (VRF) ensures fair reward distributions and exclusive access to new alpha and beta versions of Chainlink products, providing a competitive advantage.
To answer these valuable services, Altverse has committed to allocate 7% of its native token supply over time to Chainlink service providers, including strikers. This unique arrangement promotes mutually beneficial economic incentives, allowing both communities to thrive and grow while supporting each other’s endeavors.
Jesse Lee, Altverse CEO, said, “We are excited to join Chainlink BUILD to gain access to industry-standard oracle services, technical support, and a robust cryptoeconomics model that enables us to build decentralized identity solutions with greater security guarantees. We look forward to continuing our partnership and welcoming the passionate Chainlink community to the Altverse ecosystem.”
The dynamic partnership between Altverse and Chainlink’s BUILD program marks a major milestone in decentralized digital identity. Combining their expertise and resources, these innovative companies aim to shape the future of privacy and data autonomy by providing users with secure, transparent and user-centric solutions. As the partnership unfolds, users can anticipate a ripple effect across the industry, inspiring further growth and setting a new standard for digital sovereignty in the crypto market.