Fractal ID x Avalanche: Bringing Decentralized Identity to the Avalanche Ecosystem
We are proud to announce that we will be deploying Fractal ID on Avalanche, the open, programmable smart contracts platform for decentralized applications (dApps).
Fractal ID is supporting Avalanche by bringing DIDs to the Avalanche ecosystem, enabling users to seamlessly jump from one dApp to another.
Seeing the opportunity in Avalanche
Avalanche is one of the fastest smart contracts platforms in the blockchain industry, as measured by time-to-finality. Avalanche is known for being highly interoperable, allowing for the creation of different subnets, with its blockchain serving as a common platform. Moreover, it enables high scalability; 4,500 transactions per second (TPS) at low gas fees.
These interoperability and scalability features present significant opportunities for developers and end users to grasp, and this is where Fractal ID DID can further simplify jumping to these opportunities.
Fractal ID DID for Avalanche ecosystem
Unlike previous implementations where Fractal ID was implemented with individual platforms, implementing DIDs for the whole Avalanche ecosystem unlocks features for dApps on Avalanche that are unique in the crypto space.
No-touch open DID registry
The DID registry is a privacy-preserving identity verification commons that enables direct on-chain identity verification.
As soon as the user connects their wallet, the dApp will be able to toggle the registry and discover the user’s identity credentials. That’s it. That’s how easy onboarding even for full identification requirements or proof-of-personhood use cases can be, maintaining the user’s privacy while providing a safe web3 environment for building. (See Figure 1.)
One login, access to all Avalanche dApps
Leveraging Fractal ID DID provides users with the ability to use different Avalanche dApps. Moreover, the DID registry is open not just for Fractal ID credentials. That means, whether you have Fractal ID or starting your KYC journey from scratch, you can still connect to the DID registry to access Avalanche’s networks.
Once a user verifies their identity for a dApp, they are instantly ready to use any other dApp without needing to go through a new KYC journey as Fractal ID verifiable credentials (VCs) are interoperable across all Avalanche networks. (See Figure 2.)
Benefits of Fractal ID deployment on Avalanche
Fractal ID deployment on Avalanche aims to create a safe and privacy-preserving ecosystem for builders and users alike.
This implementation brings significant benefits to Avalanche ecosystem users, including:
- Enabling Avalanche to seamlessly tap one of the broadest web3 communities with access to 150k+ pre-verified Fractal ID users who can be seamlessly onboarded with a click of a button.
- Ensuring a regulatory-compliant ecosystem that protects users’ privacy as well as the network’s reputation.
- Bringing back data ownership to users by providing them with reusable, selectively-disclosable verifiable credentials.
About Avalanche
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low-cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Don’t believe it? Try Avalanche today.
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About Fractal ID
Fractal ID is the leading identity solution provider for web3 ecosystems. We are building a vertically integrated identity stack that works for everyone, everywhere. To transform decentralized identity adoption into reality, Fractal ID is currently building the idOS — the identity layer of web3.
If you are interested in exploring how web3-native identity solutions (DIDs) can help your business, book a meeting with our team.
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This article does not include elements of any contractual relationship. This article shall not be deemed to constitute a prospectus of any sort or a solicitation for investment or investment advice; nor does it in any way pertain to an offering or a solicitation of an offer to buy any securities in any jurisdiction.
For the avoidance of doubt, please note that the Protocol has not been fully developed. Any statements made about the Protocol are forward-looking statements that merely reflect Fractal ID’s intention for the functioning of the Protocol. There are known and unknown risks that can cause the results to differ from the forward-looking statements.
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Fractal ID’s intended purpose of the Tokens is to be used as a means of payment for the services that will be offered within the Protocol (the “Services”). The purchase, ownership, receipt, or possession of Tokens carries no rights, express or implied, other than the right to use Tokens as a means to enable usage of Services in accordance with the then-applicable terms of use relating to the Services offered within the Protocol. The Tokens do not represent or confer any ownership right or stake, share, security, or equivalent rights, or any right to receive future revenue shares, intellectual property rights, or any other form of participation in or relating to the Protocol, Fractal ID, Service Providers or any of their corporate affiliates, other than any rights relating to the provision and receipt of Services, subject to the applicable terms, conditions or policies that may be adopted by participants in the Protocol.