In a world where digital interactions are becoming increasingly common, the significance of decentralized identities is growing exponentially. As data breaches and identity theft continue to threaten the privacy and security of individuals, several leading blockchain firms 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 growth and long-term adoption of decentralized identity solutions, providing users with greater control over their digital identities and privacy.
By participating in the BUILD program, Altverse’s collaboration with Chainlink is significantly enhanced. This partnership brings added benefits such as priority support from the Chainlink ecosystem, increased opportunities to engage with dApps seeking decentralized identity solutions, and a 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 various parties, such as freelancers, contributors, and projects, based on user-owned digital identities with robust verification.
At the core of Altverse’s offering is a digital identity profile that houses a user’s credentials and achievements. Users can earn these through the Altverse platform by completing quests that verify professional skills, engaging in social media interactions, and more. Completing a quest rewards users with a soulbound NFT as proof of their skills or interactions.
Altverse Maximizes Benefits With Chainlink BUILD
Altverse has strategically partnered with Chainlink’s BUILD program to harness the unparalleled security and reliability offered by Chainlink’s Oracle infrastructure. This collaboration ensures that Altverse benefits from a variety of key services, including the integration of Chainlink Automation, which streamlines custom dynamic NFT experiences for users. Additionally, Chainlink’s Verifiable Random Function (VRF) ensures fair reward distributions and exclusive access to new Chainlink product alpha and beta releases, providing a competitive edge.
To reciprocate these valuable services, Altverse has committed to allocating 7% of its native token supply to Chainlink service providers, including stakers, over time. This unique arrangement fosters mutually beneficial economic incentives, allowing both communities to thrive and grow while supporting each other’s endeavours.
Jesse Lee, CEO of Altverse, said, “We’re excited to join Chainlink BUILD to gain access to industry-standard oracle services, technical support, and a robust crypto economic model that empowers us to build decentralized identity solutions with greater security assurances. We look forward to continuing our collaboration and welcome the passionate Chainlink community into the Altverse ecosystem.”
The dynamic partnership between Altverse and Chainlink’s BUILD program marks a significant milestone in the realm of decentralized digital identity. By combining their expertise and resources, these innovative companies aim to shape the future of privacy and data autonomy, providing users with secure, transparent, and user-centric solutions. As the collaboration 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.
