Litentry Expands Decentralized Identity into the Bitcoin Ecosystem
In Brief
Litentry will expand decentralized identity capabilities to the Bitcoin ecosystem by integrating BRC20 through the use of the Unisat wallet.
Decentralized identity solution, Litentry, announced plans to expand decentralized identity capabilities to the Bitcoin ecosystem. Litentry aims to integrate BRC20 through the use of the Unisat wallet, enabling users to verify their assets through IdentityHub using their Bitcoin address and receive corresponding leaderboard rankings.
The introduction of BRC20 on IdentityHub, facilitated by integrating with the Unisat wallet, aims to bring advanced digital credential features–Ordinals NFT and Bitmap–to the Bitcoin ecosystem. This enhancement promises users a more robust, secure, and innovative decentralized identity management experience.
Ordinals are non-fungible tokens (NFTs) directly inscribed onto the Bitcoin blockchain through the Taproot upgrade’s witness data. This transforms the Satoshi, a subunit of Bitcoin into a novel asset category capable of holding unique data, effectively becoming an NFT.
These Bitcoin NFTs can incorporate various types of data, such as images, videos, texts, and more, attached to an individual satoshi on the base Bitcoin blockchain. Unlike their predecessors, ordinal NFTs don’t exist on a separate layer from Bitcoin. Instead, they utilize an arbitrary but logical ordering system called ordinal theory to assign a unique number to each satoshi.
Litentry is a privacy-preserving Identity Aggregation protocol, offering granular access and control of data. Utilizing a decentralized identifier (DID) indexing protocol and a Substrate-built distributed DID validation blockchain, Litentry delivers a decentralized, interoperable identity aggregation service, addressing the challenges associated with resolving agnostic DID mechanisms.
Litentry Plans for Transforming Bitcoin Ecosystem
The project further plans to leverage this innovation by introducing decentralized identity, anticipating a transformative impact on the Bitcoin ecosystem.
Ordinals NFTs find utility in the DID world as they can store verifiable credentials. These credentials, issued by trusted entities, can be presented for verification without dependence on intermediaries.
Litentry’s integration of BRC20 into the Bitcoin ecosystem promises to revolutionize decentralized identity management. This strategic enhancement, featuring advanced digital credentials like Ordinals NFT and Bitmap, not only ensures a more secure and robust user experience but also propels Litentry to the forefront of innovation within the Bitcoin landscape.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
