Cronos ID, what is it? Discover the features and different applications that this ecosystem offers as well as its website.
Cronos ID is a decentralized identity and communication layer built on Cronos.
This project is the result of a need for communication and identity infrastructure on Cronos. In web3, users are identified by long and unintuitive address strings.
Long wallet addresses will be a thing of the past
Individuals rely on off-chain applications to communicate, which can be prone to exploits. With the increasing adoption of web3, there is a critical and urgent need to optimize the use of web3 at all levels. Those interested in DeFi news will certainly welcome such a project.
Cronos ID, introduction:
On a broad level, Cronos ID will give users the ability to send and receive information onchain, powered by human-readable identifiers.
To achieve this, Cronos ID is powered by 3 key subprotocols:
- Starting with our Domains, every user will have a unique onchain identity, allowing you to find friends and exchange crypto with ease. The goal of Cronos ID’s identity layer is to map human-readable names like “Jack.cro” or “Jill.cro” to machine-readable identifiers – such machine-readable identifiers include onchain addresses, metadata, IPFS hashes and content hashes.
- The Notifications service will help the community keep track of key protocol events, alerts, NFT bids and more – gone are the days of manually checking your DApps for bids or collateral factors. A web3 enabled notification service has its value deeply rooted in the fact that onchain activities cannot be tracked easily by users. Currently, it requires users to either run their own scripts or to periodically pull information manually. A service like Cronos ID will be increasingly crucial as web3 gains adoption and popularity – the large majority of users will likely be less tech-savvy and more reliant on abstracted technologies like the notification service.
- Finally, by leveraging Messaging, users and projects will be able to connect and communicate with each other in a safe and verifiable environment. In current ecosystems, there is a lack of a proper communication channel for users to reach out to each other or connect with teams in a safe and secure manner. Whilst traditional web2 communication mediums serve the purpose of providing a platform to convey a message, the safety of said platforms in the web3 context are often questionable. Cronos ID Messaging Service is a sub protocol of Cronos ID that enables users to reach out to other individuals via wallet addresses or domain names, providing both parties greater assurance of the identity of the person they are communicating with.
The CROID token is the native and governance token of Cronos ID that will be used in its ecosystem.
Within the platform, users will be able to use CROID tokens to purchase 3 and 4 character names at a discounted price.