Controlling your Digital Identity with Litentry

BY
Bitskwela
/
Jul 6, 2024

Have you ever had to create several social media accounts and input the same details over and over? It’s definitely quite a hassle. Nowadays, most people need to do this with their digital identities scattered across different platforms. If, for example, they were verified or received an achievement on one platform, they wouldn’t be on another. Fortunately, Litentry offers a solution! By aggregating information from different accounts and allowing users to choose what they share – we get to control our digital identity! 

Problems with Centralized Identity Management

Traditional identity management is filled with problems. Data is often siloed across platforms, meaning it is only effective where it is stored. Think about inputting an address and phone number in a Facebook account, only to have to do it again for X (formerly Twitter). These centralized companies also control access and usage of our data, leading to privacy issues through hacks, misuse, or selling the data. 

Litentry disrupts this norm by empowering users to control their own digital identities. Built on the Polkadot blockchain, it serves as a decentralized identity aggregator, collecting and managing user data across various blockchains. If a user has a profile on Blockchain A, Litentry lets them enjoy the benefits of it on Blockchain B, C, and so on.  

Features of Litentry 

Here are some of Litentry's core features:

  1. IdentityHub: IdentityHub is the main interface of Litentry. It functions as a decentralized Web3 personal data management tool. Here, users aren’t just able to transfer funds like a normal wallet, but they can also aggregate their identity attributes from various blockchains. It also allows users to generate Verifiable Credentials, which are like digital certificates that prove something such as academic qualifications. Moreover, it lets users choose which specific credentials to share with applications and services, maintaining control over their data privacy. Various Web3 projects also have access to IdentityHub and can use it to connect with users. 
  2. Trusted Execution Environments (TEEs): TEEs are secure enclaves built into modern processors, separate from the main operating system. Think of them as a secure vault within your computer, specifically designed to protect confidential information. When users connect their various accounts to IdentityHub, the linked account information is stored within the TEE. It protects this data from unauthorized access and uses it to help generate verifiable credentials. 
  3. Shielding Keys: Litentry's shielding key concept safeguards user privacy while enabling attribute verification. This cryptographic mechanism allows users to prove they possess certain attributes without revealing the underlying data itself. For example, during age verification, a user can prove they are above 18 without disclosing their exact birthdate.
  4. Identity Scores: Litentry calculates identity scores based on verified activities on the blockchain. These scores represent a user's reputation and trustworthiness within the ecosystem. Think of them like people’s credit scores but in Web3. Several things affect it, like verifiable credentials, engagement with dApps, reputation within DAOs, responsible borrowing and lending within DeFi, and so on. 

Benefits of Litentry 

Litentry fosters a win-win situation for both users and projects within its ecosystem. 

Users benefit from a unified, cross-chain identity that simplifies online interactions. They would no longer need to manage separate identities using different platforms. Furthermore, Litentry selective data sharing and shielding keys protect user privacy, letting them choose who can access their information. 

Projects on the other hand, can leverage verifiable credentials to target the right audience and ensure only eligible users participate in their offerings. By analyzing user behavior and verifiable credentials, projects gain valuable insights to personalize user experiences, develop targeted marketing campaigns, and ultimately drive project growth. Litentry's secure and user-friendly identity management platform can also help attract new users to projects and foster a more engaged user base through identity scores. 

Use Cases in Different Industries 

Litentry's decentralized identity solutions extend far beyond traditional identity management. It can be used in different sectors, such as: 

  • DeFi: Litentry enables secure and verifiable demonstrations of creditworthiness, facilitating access to borrowing and lending services within the DeFi space. Users can share verifiable credentials to prove their credibility without compromising sensitive financial data.

  • DAOs: DAOs often require membership verification to ensure only eligible individuals participate in governance decisions. Litentry's verifiable credentials streamline this process, ensuring only authorized members can vote on proposals and shape the future of the DAO.

  • Gaming: In-game achievements and assets often lack verifiable proof of ownership, creating vulnerabilities to fraud. Litentry allows gamers to showcase verified achievements and in-game items, fostering trust and enhancing their overall gaming experience.

  • Social Media: Social media platforms can use Litentry to build a more efficient reputation system. Users can build their social identity based on verifiable credentials, enabling platforms to offer exclusive features and rewards to reputable users. Litentry also offers more ways for influencers to interact with their followers such as through gifting certain verifiable credentials for certain achievements. 

Through Litentry, online profiles will be much easier to manage and with way more security. Build digital identities and manage them in one place. 

Bitskwela
Education Company

Bitskwela is a Filipino-led edutech platform that strives to make Bitcoin and cryptocurrency education accessible to all Filipinos of any ethnicity.

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