News from the LIT Coin Development team on September 28, 2022
Born out of passion and a strong belief in privacy & the right to true pseudonymity, Litentry sets itself the mission to empower Web2 users to regain control of their digital identity. In line with its mission, Litentry has been devoting to building a solid foundation, i.e. Litentry Parachain, and joining hands with other projects to connect to broader users.
Up till now, three Web3 native projects — Web3Go, AdMeta, and TDF Labs — have joined Litentry’s orbit to power the Web3 space with a solid foundation in data analysis, advertising, and project building.
A Closer Look into the Orbit
Web3Go is a multi-chain all-in-one data platform providing rich web3 data services to users, developers, and project owners, including Go Analytics, Go Push , Go ID, built-in communities and data APIs.
AdMeta is a privacy-preserving advertising platform tailored for Web3 and Metaverse, offering customized advertising services without compromising user privacy.
TDF Labs is a brand-new entity. As an independent company, it aims to bring more projects to a decentralized future and inspire more innovation in the Web3 space. TDF is the acronym for the decentralized future.
💫 The three stellar projects were all initiated within Litentry, but then kept separate at the very beginning. This is done with intention and based on good reasons.
Different development stage
Founded in 2019, Litentry has been in the blockchain space for three years. Although it is still a startup with goals and visions underway to realize, it has completed its initial fundraising, having a full-stack team concentrating on building and marketing.
Web3Go is a relatively nascent project. Started in 2021, it is now in its final stage of initial fundraising and is actively recruiting new members. AdMeta and TDF Labs are still in their early setup stage.
Different product focus
Litentry envisions its role as being the infrastructure for cross-chain identity generation and verification, with its work focusing on building an identity layer that connects users and dApps. Although the three projects have its facet to do with privacy, they do not directly serve as an identity layer connecting users and projects together.
Web3Go focuses on providing on-chain data solutions for projects. AdMeta concentrates on providing advertising services that conform to Web3 standards, and TDF Labs emphasizes on inspiring creativity in the space by providing blockchain solutions and services to new projects.
Greater win for all
A combined organizational structure provides synergy opportunities, but in the long term it will distract each segments’ development focus, obscure overall operational transparency, and block more diverse investment types. Keeping projects separate, on the other hand, helps to improve and simplify internal operating structure, thus freeing up management time and bandwidth on all sides.
Such is the case with Web3Go, which has demonstrated its potential for providing data insights in recent Litentry Crowdloan with easily customizable data dashboard and leaderboard, now it has been listed in Binance MVB V program and is expected to attract more investors.
Web3Go’s fast growth is inseparable from the fact that the Web3Go team is able to give all resources — people, time, and money — to the project. For the same reason, by operating on its own, the two other projects and Litentry will be able to expand more effectively without being encumbered by the conglomerate discount effect.
For average internet users, Web3 still seems distant and unfathomable like outer space, existing beyond general understanding. Yet just like outer space, Web3 is not pitch-black, but diffuses glows that can fill people’s minds with ever-increasing wonder and awe.
Litentry is on its quest to 💫illuminate the Web3 space with a transportable, truly decentralized, and privacy-preserving identity solution. Web3Go, AdMeta, and TDF Labs will continue joining forces with Litentry to reshape current digital space and safeguard user privacy from end to end.
With the upcoming launch of Identity Hub later this year, users can expect not just an easier way to glue their fragmented identities back together, but quicker access to unlock greater benefits with their aggregated identity.💚
Litentry is a Decentralized Identity Aggregator that enables linking user identities across multiple networks. Featuring a DID indexing protocol, and a Substrate-built distributed DID validation blockchain, Litentry provides a decentralized, interoperable identity aggregation service that mitigates the difficulty of resolving agnostic DID mechanisms. Litentry provides a secure vehicle through which users manage their identities and dApps obtain real-time DID data of an identity owner across different blockchains.