Problem & Solution
- Data Fragmentation. Decentralized identity differs from traditional identity in that it is generated and managed without centralized control or oversight, using blockchains as a permissionless, distributed, and transparent database. As web3 continues to grow, more decentralized identity data will be generated and stored on the blockchain. However, this data is fragmented and lives on different networks and blockchains, making it difficult to manage and integrate.
- Data Shortage for Web3 Services. People are currently unwilling to be personally identified on the blockchain, resulting in a dearth of identity data being available for the creation of web3 products and services
Litentry allows users to move from fragmented, individual identities to aggregated identities. An aggregated identity creates a more comprehensive identity profile by creating an identity graph of the account relationships of the identity owner. This aggregated identity follows W3C DID standards and can potentially solve the problem of isolated ID registry systems that many tech companies face.
- 1.Litentry's decentralized identity pallet provides a secure and private way to link different Web3 wallets and Web2 accounts. This allows users to enhance their Web3 profiles, creating a more tangible and trustworthy digital identity.
- 2.Litentry's Trusted Execution Environment (TEE) infrastructure adds a privacy-preserving layer between raw blockchain data and data shared with a dApp. It also provides secure storage for the sensitive identity graph.
- 3.Identity Hub by Litentry enables identity management, personal data analysis, and grants granular access to control which data is shared with third parties.