Introducing SPACE ID: The Multi-Chain Identity Protocol Behind ".bnb" Domains

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What is SPACE ID?

SPACE ID is developing a groundbreaking cross-chain identity protocol to solve interoperability challenges in current domain services. Their flagship product - the ".bnb" domain service - represents a significant leap toward seamless blockchain interactions, with Binance recently leading their seed funding round.

Core Features of SPACE ID Protocol

Unlike traditional domain systems (.eth, .sol) limited to single chains, SPACE ID creates a unified naming network through:

  1. Cross-chain usernames that work across all supported blockchains
  2. Decentralized identity framework serving as a single source of truth for accessing name-associated resources
  3. Custom oracle chains to enhance scalability and availability

How SPACE ID Works

Each SPACE ID (SID) identifier begins with a colon (e.g., ":abmedia") and can link to:

๐Ÿ‘‰ Discover how SPACE ID is revolutionizing blockchain identity

The ".bnb" Domain Service

SPACE ID launched its first product iteration in August with ".bnb" domain pre-registration on BNB Chain, achieving:

Note: Pre-registration has closed, with public registration coming soon.

Binance's Strategic Investment

Binance Labs, the exchange's venture arm, highlighted three key reasons for leading SPACE ID's seed round:

  1. Universal standard potential: Creating naming conventions for Web3
  2. Developer tools: Robust SDK for dApp integration
  3. Web2-Web3 bridging: Simplifying user onboarding

"SPACE ID's protocol brings unprecedented flexibility to Web3 interactions while closing the gap between traditional and decentralized applications," stated Nicola W of Binance Labs' investment team.

FAQs About SPACE ID

Q: How does SPACE ID differ from ENS?

A: While ENS operates primarily on Ethereum, SPACE ID offers native cross-chain functionality and broader resource linking capabilities.

Q: When will ".bnb" domains be publicly available?

A: The team hasn't announced specific dates but recommends following their official channels for updates.

Q: Can I transfer existing domains to SPACE ID?

A: Future versions plan to support domain migration tools for popular naming systems.

๐Ÿ‘‰ Learn about blockchain naming innovations

The Future of Web3 Identity

SPACE ID represents a paradigm shift in how we manage digital identities across blockchains. With its:

The protocol is positioned to become the backbone for decentralized identity solutions. As adoption grows, SPACE ID may fundamentally change how users and applications interact across Web3 environments.

Risk Disclosure: Cryptocurrency investments carry substantial risk. Prices fluctuate dramatically, and investors may lose their entire capital. Carefully consider your risk tolerance before participating.