OneID, developed by Ninety Eight (formerly Coin98 Finance), is an advanced solution in the field of decentralized identity management. This is a unique tool that allows users to create and manage their identities across various chain in the Crypto space.
What does OneID offer and how does it differ from other Web3 products? How to buy ID on OneID platform?
What is OneID?
OneID is an advanced multi- chain digital identity solution, built on the Viction blockchain (formerly TomoChain) and developed by Ninety Eight (formerly Coin98 Finance) . OneID is a cross chain decentralized identity solution, OneID allows users to create a unique ID that can be used on any blockchain. This means you can use OneID to sign in to your favorite Web3 apps and games without having to create and manage multiple individual accounts.
Currently, OneID supports more than 70 blockchains, allowing users to purchase an ID that represents their identity and wallet address on more than 70 blockchains.
Why is OneID needed?
A variety of dApps and utilities are contributing to the rapid growth and expansion of the Web3 space. With the advent of ENS (Ethereum Name Service), Name Service has emerged as one of the applications of interest to the crypto community. Gives users the ability to set a name (ID) for their wallet address. They are more comfortable to use and easier to remember. However, ID users still encounter certain difficulties because each user's ID only corresponds to their wallet address on the chain that the project supports, and projects sometimes run independently on each blockchain chain. . So they have to buy multiple IDs from multiple chain.
OneID, One Click, All Chains
Follow these easy steps and get your own universal identity now! #UseOneID #OneID pic.twitter.com/It8pFTVcje— OneID (@useOneID) November 2, 2023
This can lead to the following problems:
- A user may own a domain name on one chain (e.g. abc. ETH), but may not be able to own the same name on another chain (e.g. abc. BNB) because someone else bought it first there.
- Costs increase when having to purchase each ID on each chain separately.
- It's inconvenient to have to Mnemonics many different domain names and extensions for each chain to use.
And OneID has emerged to solve all of the above challenges, focusing on providing Multi-Chain technical identity solutions.
How does OneID work?
OneID brings a unique experience to users, with the concept of Chain ID (MID).
Users have the ability to send, receive and participate in dApps without regard to network, EVM compatibility, Solana, Cosmos, and many other aspects.
OneID provides a unique Top-level ID (TLID) for partners, such as “. C98”, “.binance”, etc., and provides SDKs and APIs for easy integration for developers across blockchains.
OneID has 2 main components: OneID SDK and Contract
OneID SDK facilitates partners (blockchain, CEX, DEX, etc.) to easily integrate OneID Services, solving all the complex chain issues and facilitating the creation of more user-friendly blockchain products with users. Currently, OneID Non-Fungible Token uses VRC-725 (Viction) and OneID Service supports over 70 chain with just one setup step.
OneID provides 2 types of SDKs:
Inspect SDK : allows Wallets/dApps to integrate and use OneID Services. Popular like connecting a wallet (Linked Wallet) with ID Name and integrating 70 chain. After that, users do not need to care about the chain or wallet address anymore, just use the ID Name to make transactions
Core SDK : allows platform users to register and use OneID directly on their dApp. With the integration of OneID, these platforms will Chia revenue.
Highlights of OneID
- One identity on every blockchain : IDs on OneID establish an instant connection with multi- chain wallets, Vai as the user's identity representation on all chain the project supports. Identity management is quick and easy because users do not have to individually link each ID to each blockchain.
- Fully decentralized and autonomous identity : OneID is developed on blockchain technology, ensuring that no intermediary or third party can manage or manipulate users' identity information. Users have complete ownership and control of all information related to their identity.
- Flexible integration capabilities : OneID is compatible with the Web3 ecosystem, wallets (in addition to Coin98 Super Wallet), dApps and blockchain. Furthermore, OneID will be automatically added to the ID that users have purchased whenever a new blockchain is supported.
- ID Diversity : Compared to conventional decentralized identity platforms that only allow registration of a single ID, OneID provides many different ID options such as . C98, .bitcoin, .crypto, .hodl, .wagmi to serve a variety of user needs and preferences.
- One-time Fee : Users can purchase a single ID and use it across all chain , saving money and effort by eliminating the need to purchase multiple IDs on separate chain .
- Providing OneID SDK & API: The project provides an SDK and API toolkit to support developers in building on- chain identity applications.
- OneID is a standard VRC-725 Token NFT on the Viction blockchain and is transferable.
- Zero Gas Mechanism VIC tokens are not needed for any user activity on OneID to cover Gas Price
Therefore, when connecting OneID to a multi- chain wallet, users do not need to worry about which wallet address or blockchain to send Token to. Instead, simply knowing the recipient's unique OneID is enough to make transactions quickly and conveniently
ID classification on OneID platform
OneID classifies ID names into four distinct categories, including:
Regular: This type of ID allows users to register easily without encountering problems or paying high fees.
Protected: This type of ID is reserved for projects and brands.
Governed: This type of ID contains sensitive, inappropriate words and violates OneID policies. Users cannot register IDs of this type.
Premium: Is a type of ID that contains a special or common name, and the registration fee for these types of IDs may be higher than for regular ID types.
ID name states
Available: Available: User can purchase ID name if not registered.
Registered: Another person has registered this ID name. This ID name can be used by the owner to create a profile. The Registered status will change to Grace Period upon expiration.
Grace Period: Status valid for 30 days, during which the user can re-register for an ID name but cannot edit his profile. Users will lose ownership of the ID name if they do not re-register after this time. ID name changed to reflect premium payment period. Premium Period: The ID name will be issued after the Grace Period and anyone can apply for the Premium Period.
Fees on OneID
- Base fee: Based on the number of characters in the ID, users have to pay different fees.
- Service fee: Fixed fee is 1 USD.
- Premium Name Fee: Fee when a user registers for a Premium ID, fixed at 500 USD.
