Tucows, Hiro, Trust Machines launch Orange Domains to bridge Web3 and Web2

Trust Machines, a company building an ecosystem of Bitcoin apps, has announced it is launching Orange Domains to bridge Web3 with Web2 in partnership with Tucows and Hiro Systems. The aim of Orange Domains is to expand the functionality of the Bitcoin Name System and develop new top-level domain (TLD) services to bridge the traditional DNS with Web3 digital identities.

The internet currently has no direct connectivity to blockchains and Web3 apps. Users must install software and go through a multi-step process to get access. By connecting DNS directly to BNS, Web3 domains can function as a digital identity and act like an NFT, enabling users to build websites, secure finances, use email, and more, from one domain on the blockchain, the partners say.

Tucows will contribute its expertise in DNS and web registry, while Hiro will provide its knowledge on digital assets and dApps. Trust Machines will lead development and market strategies for the product.

The BNS namespace is built on Stacks, a Bitcoin L2, for smart contracts, and allows anyone to purchase a.btc Web3 identity. Registrations are finalized on the Bitcoin blockchain.

BNS is rising in crypto, and over 312,000 digital identities registered organically as of March 11, according to Orange Domains GM Don Ruiz.

Concordium launches Web3 ID

Concordium has announced the launch of its ZK Web3 ID in a Medium post.

Concordium is the only Layer 1 blockchain that integrates a built-in, self-sovereign identity (SSI) feature, preserving privacy in authentication while preserving speed, security, and cost-effectiveness, according to the post.

With centralized and federated identity management systems, user data is often stored and managed by a single provider, creating security risks. Self-sovereign identity puts users in control of their own data.

The Web3 ID allows entities to issue fraud-proof verifiable credentials using cryptographic signatures. This mitigates cyber attack risks that centralized databases face and facilitates regulatory compliance. ID holders can verify statements about themselves using zero-knowledge proofs (ZKP).

Car sharing companies can verify licenses and medical certification boards can issue licenses as verifiable credentials, among other applications. Web3 ID can also be used for proof of humanity checks and passwordless authentication.

nChain CIO on importance of digital ID to Web3

nChain CIO Christine Leong says digital identity is the foundation of Web3.

CoinGeek Backstage spoke with her at Gitex Global in Dubai on nChain’s role in the Web3 space, and published the interview this week.

Digital identity is the foundation for owning one’s own data, deciding who it is shared with and whether to monetize it, Leong argues. Currently, nChain is working on developments in digital identity, as well as on-chain document signing.

Leong says the firm is currently focused on building Teranode, a distributed network of nodes in collaboration with the BSV Association. Technical testing for the network began last month. The BSV blockchain will be able to process up to 1.1 million transactions per second, making it a leading network for efficiency.

Article Topics

blockchain  |  Concordium  |  digital identity  |  nChain  |  Orange Domains  |  self-sovereign identity  |  web3