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The lack of regulation in the crypto space brings freedom but also comes with scams.
Addressing trust issues in anonymous scenarios becomes crucial. This can significantly
reduce trust costs and, consequently, increase productivity in the crypto world.
brc-soul can effectively solve decentralized trust issues and have important
applications in scenarios such as:
1. Lending platforms can adjust corresponding collateral ratios based on the credibility of addresses, thereby improving capital utilization efficiency.
2. Individuals can assess the credibility of a project based on the reputation of the project initiator's address and decide whether to invest or not.
3. Individuals can develop their social circles in the crypto world based on the credibility of addresses.
4. The decentralized relationship can be stored on the chain forever, without restriction of any centralized app.
5. Every app use the same data, we would never need build our social network and reputation again and again.
6. and so on...
Why should use the Bitcoin chain?
1. Applications on Bitcoin are just emerging, and there is lack of related protocol for DID and Social, What is an important area in the crypto community.
2. Bitcoin is currently the most secure chain, and personal identity information is the most important information for everyone, so it should be stored on the most secure chain.
3. The various DID identity systems on different chains have caused severe fragmentation in the ecosystem. Bitcoin's position is the most hopeful for standardizing DID identity systems.
4. With the Bitcoin halving, miner revenues decrease, and Bitcoin's hash power is threatened, new applications can ensure sustained hash power.
website: https://bitsoul.xyz
twitter: https://twitter.com/bitsoul_xyz
medium: https://medium.com/@bitsoul
github: https://github.com/bit-soul
telegram: https://t.me/bitsoul_xyz
discord: https://discord.gg/3MjNRBhuRv
email: coffeeking001@outlook.com
issues: https://github.com/bit-soul/bit-...
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This concept around BitSoul is intriguing, @coffeeking! How do you plan to ensure the credibility assessment of addresses is reliable and free from manipulation? Additionally, for newbies in crypto who might not understand the complexities of DID systems, what resources or support will be available to help them navigate this decentralized social network? The potential to unify social identities across platforms sounds promising, but what are your thoughts on the initial adoption challenges?
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Maker
@ezshine
1. BitSoul builds a Decentralized Social Network on BitCoin chain, everyone can choose different algorithm to evaluate the credibility according to the network's Weight
2. There is some plan in our roadmap that may help people use it more easily, and be helpful for the initial adoption. But there is so much work to do, so we are seeking for more resources.
[1] https://bitsoul.medium.com/bitso...
