
12/29/2022
SPACEID — .bnb is Dominating the IVM Sector
SPACEID — .bnb Domains are clearly #1 amongst Binance users!
Identity verification is a process of verifying the identity of a person or organization. This can be done for a variety of purposes, including verifying the identity of individuals or organizations for financial transactions, access to secure facilities or information, or to comply with legal or regulatory requirements. The identity verification market includes a range of products and services that are used to verify identities, such as biometric authentication systems, identity and access management systems, and identity document verification systems. These products and services may be offered by a variety of different companies, including technology firms, security companies, and financial institutions. The identity verification market is expected to grow significantly in the coming years as the need for secure and reliable identity verification increases in a variety of sectors.
The IVM sector is expected to experience significant growth in the coming years due to the increasing demand for secure and reliable identity verification in a variety of sectors. The global identity verification market size was valued at USD 8.48 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 16.7% from 2022 to 2030. This suggests that the IVM sector is expected to experience strong growth over the next few years. It is not possible to accurately predict the CAGR for the IVM sector, as it will depend on a range of factors that are difficult to forecast. Like the mass adoption of crypto currencies, and domain handles.
The adoption of cryptocurrency by a large number of people will lead to an increase in demand for identity verification services within the cryptocurrency industry. This is because many cryptocurrency exchanges and other platforms that deal with digital assets will require users to undergo identity verification processes in order to comply with regulatory requirements or to prevent fraud and money laundering most commonly associated with bots, and or botnet activities such as Swarm A.I. assaults. As such, the growth of the cryptocurrency industry is likely to lead to high drive in demand for identity verification services within the sector.
However, it is important to note that the adoption of cryptocurrency is just one factor that could influence the growth of the identity verification market (IVM) sector. There are likely to be other factors at play as well, such as technological developments, economic conditions, and regulatory changes, that could impact the growth of the IVM sector. It is therefore difficult to accurately predict the extent to which the adoption of cryptocurrency will impact the IVM sector.
The identity verification market (IVM) is a rapidly growing sector that is expected to experience significant growth in the coming years due to the increasing demand for secure and reliable identity verification in a variety of sectors. SPACEID is positioning itself at the forefront of this market. They presently have complete dominance of the Binance ecosystem. SPACEID is a multichain name service aggregator that aims to provide users with a unique identity across all blockchains.
One key feature of SPACE ID is its universal domain system, which allows users to build their own brand and maintain a consistent identity across multiple blockchains. This is achieved through the use of .bnb domains, which are designed to be more encompassing and flexible than traditional domain extensions like .eth or .com. The .bnb domain structure uses a colon “:” to separate Top-Level Domains (TLDs) from user domains, allowing for a more intuitive and user-friendly naming layout.
In addition to providing users with a unique identity across all blockchains, SPACE ID also simplifies interactions by eliminating the need to double-check addresses. With SPACE ID, users can simply use their username (e.g., :Allen) to identify themselves on multiple blockchains, making it easier for others to interact with them. Furthermore, SPACE ID allows users to connect their identities from the Web2 world, such as their Twitter handle, email address, and Github account, further enhancing the convenience and ease of use of the platform.
SPACE ID’s universal domain system and multichain name service aggregator capabilities make it a promising player in the IVM sector, and an attractive option for individuals, and organizations seeking to establish and maintain a consistent identity across multiple blockchains.
SPACE ID’s customized Top-Level-Domains (TLDs) feature is designed to provide users with greater flexibility and control over their identities within specific communities or on different blockchains. With this feature, users can choose to use unique usernames within different communities, while still maintaining their universal identifier across all blockchains.
One advantage of this feature is that it allows for seamless integration with non-fungible tokens (NFTs). For example, if a community (such as BAYC) wants to airdrop more tokens to their holders, they can simply send funds to all the BAYC:XX subdomains. This means that users do not have to know each other’s aliases or universal names in order to receive the tokens — they can simply use their TLD-specific identities.
Another advantage of SPACE ID’s TLDs is that they can be combined with a multi-chain domain service, allowing users to set multiple identities on different blockchains. For example, a user with the universal domain :Allen could also set their identities to BAYC:001, ETH:Allen (allen.eth), and BNB:Denali (denali.bnb). This allows users to have a consistent identity across multiple blockchains and communities, while still maintaining the flexibility to use different names in different contexts.
In addition to its use on blockchains, SPACE ID’s TLDs can also be used on social media platforms such as Twitter. For example, a user with the Twitter handle u/Allen could use their Twitter:Allen identity to interact with others on SPACE ID. And since everything is tied together in this way, users can also send cryptocurrency on one blockchain (such as Solana) to a .bnb domain on another blockchain.
Overall, SPACE ID’s customized TLDs feature is a powerful tool that allows users to maintain a consistent identity across multiple blockchains and communities, while still providing the flexibility to use different names in different contexts.
SPACE ID’s One SDK for All feature is designed to provide developers with a fast and convenient way to integrate the platform into their applications and services. With this feature, developers can quickly and easily implement SPACE ID’s capabilities into their products, allowing them to leverage the platform’s unique features and capabilities to better serve their users.
One key advantage of SPACE ID’s One SDK is its fast implementation time. According to SPACE ID, it only takes 30 minutes to integrate their SDK, making it one of the fastest and most convenient options on the market. This is especially useful for developers who need to quickly and easily integrate identity verification capabilities into their products.
Another advantage of SPACE ID’s One SDK is that it serves as a name service aggregator, allowing developers to easily integrate with multiple name services at once. This is useful because it means that developers do not have to integrate with multiple name services individually, which can be time-consuming and complex. Instead, they can simply use SPACE ID’s SDK to integrate with all of the major name services at once, saving them time and effort.
SPACE ID’s One SDK for All feature is a powerful tool that makes it easy for developers to quickly and easily integrate the platform into their products, allowing them to leverage the platform’s unique features and capabilities to better serve their users.
SPACE ID is a multichain name service aggregator that aims to address several challenges with current domain services. Some of these challenges include:
Segregation and limitation within a unique blockchain: Many current domain services are limited to a single blockchain, which can be limiting for users who want to maintain a consistent identity across multiple blockchains. SPACE ID aims to solve this problem by providing users with a unique identity across all blockchains.
Zero-width issues: Some current domain services have issues with zero-width characters, which can make it difficult for users to register and use certain names. SPACE ID aims to address this problem by providing users with a more flexible and user-friendly naming layout that does not rely on zero-width characters.
Lack of decentralization in connectors between blockchain identifiers: Many current domain services have centralized connectors that link users’ identities on different blockchains, which can be a security risk. SPACE ID aims to solve this problem by providing users with a decentralized connector that allows them to maintain a consistent identity across multiple blockchains in a secure and decentralized manner.
Complex registration system: Some current domain services have complex registration systems that can be difficult for users to navigate, which can discourage adoption. SPACE ID aims to address this problem by providing users with a simple and intuitive registration process that is easy to use.
Mixing of user and brand domains: Some current domain services do not clearly distinguish between user and brand domains, which can be confusing for users. SPACE ID aims to solve this problem by using a clear and intuitive naming layout that separates Top-Level Domains (TLDs) from user domains.
Arduous integration for protocols: Some current domain services are difficult for protocols to integrate, which can be a barrier to adoption. SPACE ID aims to solve this problem by providing protocols with an easy-to-use SDK that can be quickly and easily integrated into their products.
Limited to only being a name service: Some current domain services are limited to providing name services and do not offer additional features or capabilities. SPACE ID aims to address this limitation by providing users with a range of features and capabilities beyond just name services, such as customizable TLDs and seamless integration with NFTs.
SPACE ID aims to address several challenges with current domain services by providing users with a unique identity across all blockchains, a flexible and user-friendly naming layout, a decentralized connector, a simple registration process, clear distinctions between user and brand domains, an easy-to-use SDK, and a range of features beyond just name services.
A universal name service is a system that allows users to maintain a consistent identity across multiple applications and blockchains. This is important because it allows users to interact with others using a single, easily recognizable identity, rather than having to remember and use multiple different usernames and addresses.
The benefits of a universal name service are numerous. For one, it allows users to build their personal brand and reputation more effectively, as they can use a single identity across multiple platforms and communities. This can be especially useful for users who want to be recognized and interact with others in leaderboards, chat windows, wallet holdings, NFT listings, and other online spaces.
Another benefit of a universal name service is that it can help dApps (decentralized applications) achieve better interoperability and flexibility. With a universal name service, users can easily trade cryptocurrencies, lend tokens, mint NFTs, and buy tickets or even homes in a highly decentralized world, all using a single ID. This can make it easier for users to participate in a wide range of activities and interact with others across different platforms and communities.
Overall, a universal name service is an important tool that can help users build their personal brand, interact with others more easily, and participate in a wide range of activities across multiple platforms and communities. SPACE ID is one example of a universal name service that aims to provide users with a consistent identity across multiple blockchains and applications.
SPACE ID is a universal name service network that is built on the BNB Chain and aims to connect people, information, assets, and applications in the digital world. SPACEID’s mission is to create a decentralized, censorship-resistant, and open-sourced platform that is chain-agnostic and enables users to interact with others and participate in a wide range of activities across multiple blockchains and applications.
To date, SPACE ID has registered a total of 330,148 .bnb domains and has 139,636 unique .bnb holders. On average, the SPACEID user’s mint 2,063 .bnb domains per day, and there are currently 7,609 decentralized websites that have been created using .bnb domains.
In summary, Not only are they providing users with a universal name service, SPACE ID also aims to help users build their personal brand, interact with others more easily, and participate in a wide range of activities across multiple platforms and communities. SPACEID’s mission is to create a more connected and open digital world where users can easily interact with others and participate in a wide range of activities without being limited by their location or identity.